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Help to buy ISA - Property Price
catwood1
Posts: 12 Forumite
Hello
Both myself and my boyfriend have help to buy ISAs, we opened them knowing we would probably never get the bonus as property prices in our area are above the £250,000 limit, however we are now in the process of purchasing a house from my mother using a concessionary purchase mortgage. The property value is over £250,000 but the purchase price is below.
Does any one know if the £250,000 limit applies to the property value or the purchase price? I’ve been reading the scheme rules on the governments website and it says Purchase price.
Has anyone done this before? Many Thanks
Both myself and my boyfriend have help to buy ISAs, we opened them knowing we would probably never get the bonus as property prices in our area are above the £250,000 limit, however we are now in the process of purchasing a house from my mother using a concessionary purchase mortgage. The property value is over £250,000 but the purchase price is below.
Does any one know if the £250,000 limit applies to the property value or the purchase price? I’ve been reading the scheme rules on the governments website and it says Purchase price.
Has anyone done this before? Many Thanks
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