Help to Buy ISA Scheme Extension of Bonus Deadline

HM Treasury have announced a temporary change to the Help to Buy ISA Scheme Rules.   Given the impact of the Covid-19 pandemic on the housing market, these temporary changes will initially be in force until 30 June 2020.

The most important change to home buyers is the extended timescale within which they can claim their bonus. Originally set at 12 months from the date of closure of their Help to Buy ISA Account, the deadline has been extended by 3 months.

Buyers now have 15 months from the date they closed their Help to Buy ISA Account within which to claim the bonus.

If your purchase has been delayed as a result of the pandemic, this news will hopefully bring much needed relief and provide time to get your transaction back on track.

If you think that this change affects you, please speak to one of our conveyancers to ensure that the proper paperwork is completed to make sure you don’t lose out.

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