How do I close my Help to buy ISA

CraigSavage

How do I close my NatWest help to buy isa? Do I just go in store ?

Alexland

Did you try looking at their website?

https://personal.natwest.com/personal/savings/isa-overview/help-to-buy-isa.html

Closing your Help to Buy: ISA and claiming your bonus

When you are ready to buy your first home you must request to close your Help to Buy: ISA. You can do this over the phone, or by giving written notice to your branch either by post or by handing it in. Any withdrawals you make before closing your account will reduce the value of the bonus you can claim.

We will then arrange to close your account, which can take up to 5 working days.

Within 5 working days of your account being closed, we will send you a Closing Document, which your conveyancer (the party acting on your behalf to purchase the property) will need to claim the bonus from the UK Government.

You have up to 12 months from closing your Help to Buy: ISA to claim your bonus but this should be done as soon as possible to make sure the bonus is received before you are due to complete the purchase of your new home.

The bonus will be paid directly to your conveyancer, who will add it to your deposit and mortgage funds to make up the total purchase price of your new home.

Please note your closing balance must be at least £1,600 in order to obtain a bonus, so opening an account does not guarantee you will be entitled to a bonus. The maximum bonus you can earn is £3,000.

Sunshine012

Hi
I would like to ask how did you close your Natwest Help to buy Isa?
I went into the branch and requestex the closure.
The person has requested the closure and transferred the funds into different account and said I will receive the Closing statement within 5 working days?
Does it sound correct?
I feel worried as my funds have been moved and is that a normal procedure?
I am looking forward to claim the government bonus.

Rich2808

Have you both also discussed this with your solicitor to ensure he is registered as a help to buy isa conveyancer? If he isn’t then he won’t be able to apply for the bonus for you.
Some people have been caught out by this on here – and only find out this is a problem when its too late.
The help to buy isa closure process is standard and major banks like Natwest will be well used to the process by now – that is not generally the bit you need to worry about.

Sunshine012

My solicitor is registered as Help
To Buy conveyancer.
Thank you for your reply.

Rich2808

Sunshine012 wrote: »

My solicitor is registered as Help
To Buy conveyancer.
Thank you for your reply.

No problem - no harm in checking and its always worth asking!

george4064

Go read the dedicated Help to Buy ISA Guide here: https://forums.moneysavingexpert.com/discussion/5371330/help-to-buy-isa-guide