Buying a house over 250k

Pottsy27

Hi all

The wife and I are buying our first property, with an offer accepted and going through convenyancing, we both have help to buy ISA’s but unfortunately could not get on the market for under the 250k threshold, going slightly over at 260k.

This means we miss out on the help to buy bonus and to quality for the lifetime isa bonus we need to hold it for one year. Is there anything we can do? Any advice would be appreciated.

Thanks!

bigisi

Anything you can do about what?

LandyAndy

There are conditions, you chose not to meet them. What else is there to say?

missile

I find it hard to believe there are no properties less than 250K where you choose to live?

Adereterial

The only thing forcing you to spend over £250k is... you. If you want to use the ISAs you’ll have to find a cheaper property. Either revise your expectations or look in another location.

csgohan4

clear conditions which you chose to ignore, you need to lower your budget accordingly or buy without the schemes

ReadingTim

Can't have your cake AND eat it....

theartfullodger

Pottsy27 wrote: »

Hi all

The wife and I are buying our first property, with an offer accepted and going through convenyancing, we both have help to buy ISA’s but unfortunately could not get on the market for under the 250k threshold, going slightly over at 260k.

This means we miss out on the help to buy bonus and to quality for the lifetime isa bonus we need to hold it for one year. Is there anything we can do? Any advice would be appreciated.

Thanks!

Yes, buy without the ISAs.

But surely you knew that?

You weren't fishing for some fiddle to make the price appear just below £250k by having a separate £10k deal for a tatty old carpet, were you, as that would be fraud: And anyway HMRC aren't stupid and track these things.....


But you must feel pleased to find you can afford all that expenditure!

lee111s

Pottsy27 wrote: »

Hi all

The wife and I are buying our first property, with an offer accepted and going through convenyancing, we both have help to buy ISA’s but unfortunately could not get on the market for under the 250k threshold, going slightly over at 260k.

This means we miss out on the help to buy bonus and to quality for the lifetime isa bonus we need to hold it for one year. Is there anything we can do? Any advice would be appreciated.

Thanks!

You offer 250k as your max, or, you buy at 260k and forfeit the bonus. Simples.