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Closed my HTB ISA incorrectly

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 478 views
LauraSolihullLauraSolihull Forumite
1 posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I saved just over £6000 in my HTB ISA. When it came to proving how much money I had for a deposit, I moved it all into a savings account. Apparently, because I didn't close the account properly - I wasn't entitled to the bonus. Is this correct or are Lloyds being difficult?

Replies

  • eskbankereskbanker Forumite
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    If you withdraw HTB money instead of invoking the proper account closure process then yes, it's correct that this loses the associated bonus rights, as per clause 6.9(A) of the scheme rules:
    If a Help to Buy: ISA Holder withdraws all of the funds in their Help to Buy: ISA otherwise than in a manner as described in clause 6.7 (Closing a Help to Buy: ISA – Closing Documents), from that time onwards, the Help to Buy: ISA Holder shall not be entitled to claim a Bonus in respect of such funds.
  • 20SmthngSver20SmthngSver Forumite
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    When it came to proving how much of a deposit you had, why didn't you just get a mini statement printed from the counter?

    You don't need all your money in one account to prove how much deposit you have.
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