Closing Help To Buy ISA

NS8685

Hello
I’m currently in the process of buying my first house and my solicitor has requested a closing statement for my Help To Buy ISA. I’ve requested this from Nationwide, and they have asked where I would like the money in the Help To Buy ISA transferred to. If I do get the money transferred to a different account, would I still qualify for the 25% government bonus, or does the money need to remain in my Help To Buy ISA?
Any advice would be very much appreciated - thank you!!

FtbDreaming

I went in to nationwide the other week and they said when it comes to buying the house and claiming the bonus i need to close the account and get the money moved to another account of mine. I will then be given the certificate which the solicitor will use to claim the bonus off the government. So the bonus doesn't go into your htb isa it goes to the solicitor. 

iampetesmith

I had two HTB ISAs, one for me and one for the wife. When the time came, the solicitor gave the go ahead to close them and provide the statements.

The ISA balances were moved into my current account on closure along with the rest of the deposit needed for exchange. This is good, because when it's time to exchange then the funds are all in one place and can be sent to the solicitor without having to transfer from different accounts.

The solicitor needs the closing statements so they can work out how much your bonus is, then they request it on exchange so yes you still get the 25% government bonus.

The bonus is either refunded after completion, or they take the bonus off the final bill (deposit and legal fees) so you pay less on exchange. Our solicitor deducted the bonus from the final bill, but I think others refund it after completion.