Help to Buy ISA query

3 Posts

My son is buying an £110,000 flat for which he has the 10% deposit of £11,000 saved in a HTB ISA.
He has been told that the sale is likely to take 3 to 4 months to complete. If he continues to save £200 per month, will he get tbe bonus on the whole lot or only on the £11,000 which is the deposit amount.
He is aware that the solicitor applies for the bonus, but no one seems to know the answer about the rest of the savings.
Can anyone help please?
Many thanks
Mary
He has been told that the sale is likely to take 3 to 4 months to complete. If he continues to save £200 per month, will he get tbe bonus on the whole lot or only on the £11,000 which is the deposit amount.
He is aware that the solicitor applies for the bonus, but no one seems to know the answer about the rest of the savings.
Can anyone help please?
Many thanks
Mary
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His advisor thought he could put it towards fees but I have read elsewhere that he can't. So does he also need to save for fees on top of this. If so would he be better to save elswhere for the fees and just leave the £11,000 for the deposit
I am very confused!
The withdrawn £2,200, plus anything else he saves between now and completion, can go towards fees or anything else he chooses to spend it on.
I can't thank you enough.....
Regards
Mary