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Yes, you can still use your Help to Buy ISA to get the bonus, even if your partner has previously owned a home. The Help to Buy ISA eligibility is based on an individual basis, not as a couple, provided you have never owned a property anywhere in the world. Note that while you can use your ISA and claim the bonus, you will likely not qualify for first-time buyer stamp duty relief because your partner has owned a home before, unless you purchase in your sole name.

Let your solicitor know you are using a Help to Buy ISA as soon as possible, ideally when instructing them or immediately after your offer is accepted. You must close the ISA and provide the closing statement to your solicitor to claim the 25% bonus. Do not simply withdraw your money, or you may lose the bonus; you must specifically request to “close” the account for a property purchase.

There are no direct fees to open or use a Help to Buy ISA, but commonly your solicitor will often charge a small additional administrative fee (usually around £50 to £100 plus VAT) to process the paperwork required to claim the bonus and request the bonus. The bonus itself cannot be used for the initial property exchange deposit, only the final completion so you will still need to find deposit funds usually amounting to 10% of the purchase price (although the savings in the ISA can be used towards this).

If you never use your Help to Buy ISA to buy a first home, you will not lose your savings, but you will miss out on the 25% government bonus which can only be used for the purchase of your first home. The money remains your own and you can withdraw it at any time for any purpose.

You can no longer open a Help to Buy ISA however, if you have an existing account, you can save up to £200 a month until November 2029.

A Help to Buy ISA is a government-backed, tax-free savings account designed to help first-time buyers purchase a home by providing a 25% bonus on savings. Although new accounts closed on 30 November 2019, existing savers can contribute up to £200 per month until November 2029 and claim a bonus of up to £3,000 until November 2030. You can save a maximum £200 per month (except the first month when you would have been permitted a £1,000 saving) and you need to have saved at least £1,600 to get a bonus (minimum £400). The maximum bonus available is £3,000, earned on savings of £12,000.

These are a Bankruptcy Search against you (required only if you are having a mortgage) and a Land Registry Search. This search gives you priority at Land Registry to complete registration of your purchase without any further entries on the title. These searches are only undertaken just before completion.

This is your moving day. Generally speaking, the keys to the property should be at the Estate Agent’s by 2pm.

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