Help to Buy ISA is making my head hurt
Hi guys. We are in the process of buying our first property. Currently have around £13k in our HTB Isa.
Property price £190000
Deposit £9500
Mortgage £180500
I've tried getting answers from our solicitors/mortgage broker but they are just not answering my question.
When will the bloody bonus be applied/paid?
Solicitors want £10720 on exchange (deposit+fees) and this is where the confusion starts. When we close the ISA and get the money to our bank acc, give sols the closing statement, send the £10720 from the ISA money on exchange + mortgage on completion, then that will add up to £190 000. When will we get the actual bonus then and how will it be applied?
Solicitor said that it has to be used towards the deposit and can not be used towards fees, etc ... How the hell are we supposed to use it towards the deposit if the bonus won't be paid out until after the completion?
I hope you get what I'm trying to say here. Thank you fellow redditors, this is causing us so much headaches 😂