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    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 8:42 AM
    • 254Posts
    • 33Thanks
    sugarbabe84
    Still waiting on conveyancer to send me my help to buy ISA bonus
    • #1
    • 4th Jul 18, 8:42 AM
    Still waiting on conveyancer to send me my help to buy ISA bonus 4th Jul 18 at 8:42 AM
    I completed and got the keys to my property last week. The process of buying hasn't been an enjoyable one for me, because I had a terrible conveyancer working on my behalf. I honestly have to wonder she was just doing things out of spite.

    I'm still waiting for them to send me the Help to buy ISA bonus. This is an inconvenience for me as I have various things I'm needing to pay for in order to settle into my new home.

    I sent the HTB ISA closure statement and first-time buyers declaration a long time ago. As part of completion fees I paid £50 for them to apply for the Help to buy bonus, so I'm not quite sure why they aren't sending it.

    I called the office yesterday and she said I'm on her to do list and that she would sort it out yesterday. Still nothing.

    I was wondering what my rights are in terms of expediting this?
Page 1
    • takman
    • By takman 4th Jul 18, 9:42 AM
    • 3,648 Posts
    • 3,276 Thanks
    takman
    • #2
    • 4th Jul 18, 9:42 AM
    • #2
    • 4th Jul 18, 9:42 AM
    The HTB ISA bonus is to be used for your deposit only and get's sent to your solicitor directly to use only for this purpose.

    If it wasn't on your completion statement and added to the total funds that means you have lost it and it will have to be sent back to the scheme (if they ever received it)
    • whatdoyouthink...
    • By whatdoyouthink... 4th Jul 18, 10:30 AM
    • 70 Posts
    • 34 Thanks
    whatdoyouthink...
    • #3
    • 4th Jul 18, 10:30 AM
    • #3
    • 4th Jul 18, 10:30 AM
    As above, you don't get the bonus paid directly to you, it should have been included in the completion statement you received from your solicitor.

    The bonus can't be used to buy things for your house. I think you may have been misinformed if you were told otherwise - which I was, but I was aware it couldn't be.

    As you've said you got the ISA closing statement to your solicitor in good time, and if they've not sorted it for you before completion (as you've paid them to) then I'd be looking to get the solicitor to send me a nice cheque!
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 11:44 AM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    • #4
    • 4th Jul 18, 11:44 AM
    • #4
    • 4th Jul 18, 11:44 AM
    As above, you don't get the bonus paid directly to you, it should have been included in the completion statement you received from your solicitor.

    The bonus can't be used to buy things for your house. I think you may have been misinformed if you were told otherwise - which I was, but I was aware it couldn't be.

    As you've said you got the ISA closing statement to your solicitor in good time, and if they've not sorted it for you before completion (as you've paid them to) then I'd be looking to get the solicitor to send me a nice cheque!
    Originally posted by whatdoyouthink...
    Thanks for this. This is what they said to me before completion:

    ĎGood Morning,

    I hope youíre well.

    In readiness for completion on the 29th June, please find enclosed the final completion statement for your information.

    In respect of your ISA Bonus I can advise this is not included on the completion statement as we cannot confirm this will be received prior to completion. Therefore, if you could please confirm your bank details we will transfer the bonus to you once received.

    Should you have any queries please do not hesitate to contact meí

    Do you think itís possible they have messed up and are bringing economical with the truth?

    This Help To Buy Bonus meant a lot to me and I emailed them about it on many occsssions. If thatís the case what would you suggest as my best course of action?
    • OnTheLadder
    • By OnTheLadder 4th Jul 18, 12:05 PM
    • 29 Posts
    • 14 Thanks
    OnTheLadder
    • #5
    • 4th Jul 18, 12:05 PM
    • #5
    • 4th Jul 18, 12:05 PM
    Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.
    • takman
    • By takman 4th Jul 18, 12:09 PM
    • 3,648 Posts
    • 3,276 Thanks
    takman
    • #6
    • 4th Jul 18, 12:09 PM
    • #6
    • 4th Jul 18, 12:09 PM
    Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.
    Originally posted by OnTheLadder
    This is definitely a breach of the rules and they would have to send the money back if the help to buy scheme found out this happened. What was the reason the bonus didn't arrive in time for completion?.
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 12:12 PM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    • #7
    • 4th Jul 18, 12:12 PM
    • #7
    • 4th Jul 18, 12:12 PM
    Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.
    Originally posted by OnTheLadder
    Thatís good to know. I was just about to send the conveyancer an email to enquire if there are any issues.

    Didnít you find it frustrating to receive it after completion? I was hoping to have mine on the completion statement as I had factored it into my buying costs.
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 12:13 PM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    • #8
    • 4th Jul 18, 12:13 PM
    • #8
    • 4th Jul 18, 12:13 PM
    This is definitely a breach of the rules and they would have to send the money back if the help to buy scheme found out this happened. What was the reason the bonus didn't arrive in time for completion?.
    Originally posted by takman
    I suspect they will have to breach the rules in my case. If I donít get it then Iíll have to take this up with the legal ombudsman
    • Bass_9
    • By Bass_9 4th Jul 18, 12:57 PM
    • 139 Posts
    • 162 Thanks
    Bass_9
    • #9
    • 4th Jul 18, 12:57 PM
    • #9
    • 4th Jul 18, 12:57 PM
    Can anyone post a link to the rules where it says you can only use it for a deposit? I would be interested to see this as I have heard different many people.
    • takman
    • By takman 4th Jul 18, 12:59 PM
    • 3,648 Posts
    • 3,276 Thanks
    takman
    Can anyone post a link to the rules where it says you can only use it for a deposit? I would be interested to see this as I have heard different many people.
    Originally posted by Bass_9
    From: https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

    Receive bonus: when you are close to buying your first home, you will need to instruct your solicitor or conveyancer to apply for your government bonus. Once they receive the government bonus, it will be added to the money you are putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction. The bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitorís, estate agentís fees or any other indirect costs associated with buying a home.
    • Bass_9
    • By Bass_9 4th Jul 18, 1:10 PM
    • 139 Posts
    • 162 Thanks
    Bass_9
    Our solicitor sent our help to buy bonus to us after completion. It totalled about £2,500 and our solicitor transferred to our chosen bank account. We therefore used it towards new things for the house. This was just over a year ago.
    Originally posted by OnTheLadder
    Many thanks takman, that's really helpful.

    But having read that, is it right that can't be used for the deposit, but it goes towards completion? Sorry the bold text made sense but the following sentence has confused me slightly.
    • OnTheLadder
    • By OnTheLadder 4th Jul 18, 1:39 PM
    • 29 Posts
    • 14 Thanks
    OnTheLadder
    Our solicitor made it clear from the start we wouldnt see it until completion so it was in line with our expectations. I seem to remember being given a few options and we chose to have the amount sent to us. I do recall being surprised it worked like that for us as I had read lots of different opinions.
    If they tried to reclaim it then I would hope the solicitor would be to blame, the advised us and did the transfer.
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 1:44 PM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    Our solicitor made it clear from the start we wouldnt see it until completion so it was in line with our expectations. I seem to remember being given a few options and we chose to have the amount sent to us. I do recall being surprised it worked like that for us as I had read lots of different opinions.
    If they tried to reclaim it then I would hope the solicitor would be to blame, the advised us and did the transfer.
    Originally posted by OnTheLadder
    Thanks. My solicitor was being difficult and didn!!!8217;t give me any options.

    I had initially hoped to include it in the deposit. That failing at completion, in the completion statement.
    • OnTheLadder
    • By OnTheLadder 4th Jul 18, 1:46 PM
    • 29 Posts
    • 14 Thanks
    OnTheLadder
    I just re-read the email chain. The bonus came in before completion (after exchange) when we had already sent across all our deposit and fees. I can only assume our solicitor used The bonus towards completion money and therefore refunded us that amount from what we had already sent?
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 1:46 PM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    Iíve emailed the conveyancer and surprise she responded straight away, which is out of character.

    I asked her to let me know if there are any issues that are causing me delay.

    She said it will be sent by the accounts team today via fast payment.
    • takman
    • By takman 4th Jul 18, 2:23 PM
    • 3,648 Posts
    • 3,276 Thanks
    takman
    Many thanks takman, that's really helpful.

    But having read that, is it right that can't be used for the deposit, but it goes towards completion? Sorry the bold text made sense but the following sentence has confused me slightly.
    Originally posted by Bass_9
    When contracts are exchanged they usually stipulate a 10% deposit to be paid at that time. The bonus gets sent after exchange so it can't be used for the exchange deposit but can be used for the mortgage deposit (if applicable).

    But sometimes people only have a 5% deposit in total so the solicitors can agree a lower exchange deposit to take into account of the bonus coming after.

    I just re-read the email chain. The bonus came in before completion (after exchange) when we had already sent across all our deposit and fees. I can only assume our solicitor used The bonus towards completion money and therefore refunded us that amount from what we had already sent?
    Originally posted by OnTheLadder
    So technically they refunded you the money you "overpaid" for your deposit and used the bonus for completion which isn't against the rules.

    Iíve emailed the conveyancer and surprise she responded straight away, which is out of character.

    I asked her to let me know if there are any issues that are causing me delay.

    She said it will be sent by the accounts team today via fast payment.
    Originally posted by sugarbabe84
    They will probably spin it like what OnTheLadder solicitors did and say they are sending you back your own money as you overpaid and are keeping the Bonus for completion funds.
    But if the bonus arrived after completion then they shouldn't really be doing it.

    But i don't think you should loose out at all because it sounds like it was their fault it all came in late. Personally they deserve to have to keep pay the bonus back and pay you out their own pocket if it arrived late due to their tardiness.
    • sugarbabe84
    • By sugarbabe84 4th Jul 18, 2:32 PM
    • 254 Posts
    • 33 Thanks
    sugarbabe84
    When contracts are exchanged they usually stipulate a 10% deposit to be paid at that time. The bonus gets sent after exchange so it can't be used for the exchange deposit but can be used for the mortgage deposit (if applicable).

    But sometimes people only have a 5% deposit in total so the solicitors can agree a lower exchange deposit to take into account of the bonus coming after.



    So technically they refunded you the money you "overpaid" for your deposit and used the bonus for completion which isn't against the rules.



    They will probably spin it like what OnTheLadder solicitors did and say they are sending you back your own money as you overpaid and are keeping the Bonus for completion funds.
    But if the bonus arrived after completion then they shouldn't really be doing it.

    But i don't think you should loose out at all because it sounds like it was their fault it all came in late. Personally they deserve to have to keep pay the bonus back and pay you out their own pocket if it arrived late due to their tardiness.
    Originally posted by takman
    Indeed. They are so unprofessional.

    I just checked my account and they finally sent it through.

    Iíll have to set a reminder to follow up on the land registry documents. The manner in which they have managed the process doesnít give me confidence.

    I emailed them on Friday to check that they will send the relevant forms and they said they have, but then also mentioned that it takes months for the processing to happen.
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