Can I use my Help to Buy ISA Bonus for my deposit?

Help to Buy ISA

NO. You cannot use government bonus as deposit on exchange. You can however use the funds in your ISA account once you have closed it

The purchase price cut off is:

• England & Wales - £250,000

• London - £450,000

If the property price is greater than this you will not be able to claim a government bonus.

The Help to Buy ISA bonus must be claimed between exchange and completion.  The bonus goes direct to your conveyancer, to put towards your balance to complete.

Lifetime ISA

YES. You may close the Lifetime ISA and the funds will be sent to your conveyancer and can be used for your deposit.

Purchase price cut off is £450,000.00 in UK

The Lifetime ISA’s bonus is paid monthly. LISA funds can be used towards any deposit requirements on exchange of contracts throughout England, Wales & Northern Ireland

You can close the lifetime ISA and the funds will be sent to your conveyancer to include in your house purchase

You cannot already own or have an interest in Property