Claiming Help To Buy ISA bonus

WLITC

Looking for a little reassurance. I am, fingers crossed, completing on Thursday (30th) this week.

Leeds have confirmed all is fine and funds will be with the solicitors tomorrow by around 5pm. Only piece of the puzzle that worries me and that could delay completion is the Help to Buy ISA bonus money. All along my solicitors said they couldn't apply for it until we had a completion date. We got that last Thursday and I asked at the time if they were going to request it as an expediated payment (so 1 day instead of 5 days) and they said yes. I've assumed they applied for this last Thursday (or Friday at the latest) and therefore it would have been with them by today, however when I checked d this morning they said they had requested the bonus be "paid to them the day before completion"?

Is that how it normally works with the bonus payments? I thought the monies from an ISA bonus would just come through whenever it cleared (i,e 1 day for expedited or 5 working days normal request), not on a future specific day or date?

Styles

Hey, can't help you much as I'm in the same boat as you, completion date was set to 31st, bank confirmed the loan will be paid to solicitors on the 30th. We were supposed to exchange on the 24th but the solicitors wont push the exchange until the ISA bonus has been received, so it is all touch and go now and we could well be in a situation where the lender has released the funds and we are still yet to exchange, let alone complete

joanars

With completion date confirmed, we closed the HTB account with Natwest on 16th February and on 18th February the hard copy of the bank statement was received by our solicitors. They then requested the funds and within two days received the bonus. On 20th February we have received updated Completion Statement showing the bonus deduction, we had to make sure the Closing Statement amount was paid and received by our solicitors ahead of the completion date set for 1st March 2019. That was all.

WLITC

Styles wrote: »

Hey, can't help you much as I'm in the same boat as you, completion date was set to 31st, bank confirmed the loan will be paid to solicitors on the 30th. We were supposed to exchange on the 24th but the solicitors wont push the exchange until the ISA bonus has been received, so it is all touch and go now and we could well be in a situation where the lender has released the funds and we are still yet to exchange, let alone complete

Oh god, you have me worried now. .. so when did your solicitors apply for the bonus? I hope it all works out for you for the 31st. I have just emailed my solicitors again (they must hate me by now), asking whether its normal to request the bonus to arrive the day before completion. I am hoping he's experienced and knows what he's doing.

WLITC

joanars wrote: »

With completion date confirmed, we closed the HTB account with Natwest on 16th February and on 18th February the hard copy of the bank statement was received by our solicitors. They then requested the funds and within two days received the bonus. On 20th February we have received updated Completion Statement showing the bonus deduction, we had to make sure the Closing Statement amount was paid and received by our solicitors ahead of the completion date set for 1st March 2019. That was all.

Thats quite quick for the payment, I wonder if they did yours as an expedited bonus request? I was told that would be the case for me from another guy at the solicitors, but I just got an email from the person who's taking me through to completion and he said it takes 5 days (so clearly they didn't submit as expedited) but that the portal for HTB Isa state that my bonus is scheduled to be paid to them tomorrow. That at least reassures me somewhat. Now just need the Housing Associations solicitors to pull their finger out so we can exchange today or tomorrow morning. So stressful with all these things happening down to the wire _pale_

Styles

WLITC wrote: »

Oh god, you have me worried now. .. so when did your solicitors apply for the bonus? I hope it all works out for you for the 31st. I have just emailed my solicitors again (they must hate me by now), asking whether its normal to request the bonus to arrive the day before completion. I am hoping he's experienced and knows what he's doing.

Thanks was done on the 24th but standard application instead of expedited. So with the bank holiday it can be go into next week if it takes 5 days. I even offered to advance the bonus and they can refund me back but they are not having it as it has to be in at completion.

Oh well can't stress too much about it now so just going to have to wait it out.

WLITC

So after worrying, my ISA bonus came through today :j

Still haven't exchanged tho and we are completing tomorrow (at least I hope so), I know you can exchange and complete on the same day but I'd rather avoid the stress. Hoping they confirm later today that we've exchanged.