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Help to Buy ISAs & Exchange Deposit
jonesydave
Posts: 21 Forumite
We are putting a 15% deposit on a 245'000 property, both first time buyers. Both using help to buy ISAs.
We expect exchange to happen in April but property not ready to be completed until July/August.
Can we pay our exchange deposit 10% (24500) with our savings (not our HTB ISAs), and continue to let our HTB ISAs mature putting in 200 a month until funds are needed for completion? Thus making the most of the government incentive.
We expect exchange to happen in April but property not ready to be completed until July/August.
Can we pay our exchange deposit 10% (24500) with our savings (not our HTB ISAs), and continue to let our HTB ISAs mature putting in 200 a month until funds are needed for completion? Thus making the most of the government incentive.
0
Comments
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If you're only required to put down 10% for exchange deposit then I don't see why not...0
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I suspect your solicitor might ask for your closure notices at exchange of contracts. It would be a good idea to ask them.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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