Your funds will be returned to your nominated account and you can use these funds as you choose, including towards the deposit for your first home.
Aldermore will issue you with a series of closing documents which will include your final ISA balance with any capitalised interest, confirmation that you have adhered to the Help to Buy: ISA rules and a brief description of the next steps. If you are purchasing your first property, you will need to present these to your eligible conveyancer and instruct them 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 solicitor’s, estate agent’s fees or any other indirect costs associated with buying a home.