Advice on help to buy isa bonus please

2020firsttimebuyer2020

Hi, we have just been advised by our solicitor that we will be exchanging and completing on 24th april. 

We are using my help to buy isa account as the deposit, and the remainder of the deposit needed is being gifted. 

I have now closed my htb isa account and am waiting for my closing statement. My question is, when I transfer the deposit to my solicitor, will I have to transfer the money from my htb isa along with the rest of the deposit, or will the solicitor have already received the htb isa money including the bonus when they applied for it? 

masonic

You will receive the closing balance of your HTB ISA account, so all your solicitor will receive directly is the HTB ISA bonus. You'll need to transfer the rest of the money needed for the deposit.

2020firsttimebuyer2020

masonic said:

You will receive the closing balance of your HTB ISA account, so all your solicitor will receive directly is the HTB ISA bonus. You'll need to transfer the rest of the money needed for the deposit.

Thank you. Our deposit is just over £9000 and I have £4200 in my htb isa. Am i right in thinking the solicitor will receive £1050 from the bank, then we will have to transfer the remaining 8k?

2020firsttimebuyer2020

Thank you. Our deposit is just over £9000 and I have £4200 in my htb isa. Am i right in thinking the solicitor will receive £1050 from the bank, then we will have to transfer the remaining 8k?

masonic

2020firsttimebuyer2020 said:

masonic said:

You will receive the closing balance of your HTB ISA account, so all your solicitor will receive directly is the HTB ISA bonus. You'll need to transfer the rest of the money needed for the deposit.

Thank you. Our deposit is just over £9000 and I have £4200 in my htb isa. Am i right in thinking the solicitor will receive £1050 from the bank, then we will have to transfer the remaining 8k?

Your solicitor will apply to HM Treasury for the bonus using your closing statement. They will receive £1050 based on a closing balance of £4200 yes, and you will need to provide the remainder.