Help to buy ISA dilemma

ruth56_2

My son and his wife have had these ISA for several years and finally are looking at buying a house. We are providing a private mortgage to them. Two questions
1. Does this funding qualify ( will be set up by solicitor)
2. The purchase limit is £250k.....pretty unachievable in our area (SE.) Is there a way to get over this or is it, as we think, a complete dodo? ML has said he is arguing re LISA but has not said this scheme is included in his campaign? 

eskbanker

https://forums.moneysavingexpert.com/discussion/6362592/lisa-with-private-mortgage discussed using a private mortgage for a LISA, which has the same requirement of a "legal mortgage" as HTB, but perhaps worth checking with the solicitor you have in mind?

However, if property values in your area render the HTB ISA useless, it's academic, although if they're buying in over a year's time they can belatedly look at using LISAs rather than HTB ISAs (it would have been better to have done this before now!).

I'm not aware of any inclusion of HTB ISAs in Martin Lewis's LISA campaign, but since the scheme was effectively superseded by the LISA, it seems unlikely that it'll be prioritised for attention, even if the Treasury were to relent on the LISA property value cap, which has always been a bone of contention (as with HTB).

ruth56_2

Just an update. My son was able to use our private  mortgage and obtained the HTB funds. He asked three different solicitors, two said not eligible and then the one he used said of course it is. Managed to find a property priced a fair bit above the £250k limit but used his HTB as a bargaining chip along with the already sorted funds which made him,in effect, a cash buyer. The vendor was in a rush and reduced the price to get a quick sale.