Help to Buy ISA

What is the maximum purchase property price in order for a First Time Buyer to claim their HTB ISA outside of London?

• £150,000

• £250,000

• £350,000

• £450,000

What is the maximum purchase property price in order for a First Time Buyer to claim their HTB ISA inside a London borough?

• £250,000

• £150,000

• £350,000

• £450,000

How much does the client need to have saved in their HTB ISA account in order to qualify for the 25% bonus?

• £1000

• £3000

• £12000

• £1600

What criteria must be met in order to qualify for the HTB ISA? Select all that apply

• Property must not be a buy to let (unless in armed forces)

• Client must be a First Time Buyer

• Property price must be less than £250,000 outside or London and £450,000 inside a London borough

• The client must not have already claimed a Lifetime ISA

• HTB ISA Account must have been opened before 30th November 2019

Before a Conveyancer can apply for the HTB ISA funds, what must the client have returned? Select all that apply

• First Time Buyer declaration

• Signed Contract

• Signed TR1

• HTB ISA closing statement

Can the buyer use the HTB ISA towards their deposit?

• Yes

• No

• Depends on the circumstances of the buyer

When should the buyers Conveyancer advise the buyer about closing down their HTB ISA account?

• Roughly three weeks before the anticipated completion date

• Roughly one week before the anticipated completion date

• On Completion

• On Exchange of Contracts

When the client completes the First Time Buyer declaration, what are they confirming? Select all that apply

• That they do not own or have ever owned another property anywhere else in the world

• That they do not own or have ever owned any interest in land anywhere else in the world

• They have never received payment of a bonus under the Help to Buy ISA

• They intend to occupy the property on completion (unless in the Forces)

How long can Conveyancers hold HTB ISA funds for?

• 1 day

• 1 week

• 1 month

• 3 months

On completion of the purchase property when a client has used a HTB ISA, what must the buyers Conveyancers do? Select all that apply

• Update the HTB portal to confirm completion has taken place

• Download the government letter and send this to the client

• Within 10 working days of registration, upload the completion of registration documents to the portal

• As we have already received the HTB ISA funds, no further action is required