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Help to Buy: ISA - Purchase Failure

Help to Buy: ISA - Purchase Failure

If your property purchase doesn't go through after you have closed your Help to Buy: ISA, you can reinstate your funds into another Help to Buy: ISA to carry on saving towards your first home or into a Cash ISA if you already hold one with us.

To do this:

  1. Your solicitor or conveyancer will give you a document called a Purchase Failure Notification confirming your property purchase did not complete – you will need this.
  2. To complete the reinstatement request, you will need to complete and return the Help to Buy: ISA Reinstatement Request form,  and enclose the Purchase Failure Notice. You are allowed to pay back in the same amount held when your original account was closed, and these funds will not count as new subscriptions made towards your annual ISA allowance. As an example if you held £2,000 in your Help to Buy: ISA, you can pay back in £2,000.
  3. Upon receipt of your reinstatement request we will check the details and then pay back in the lump sum requested.
  4. You can carry on savings up to £200 per month in your Help to Buy: ISA until you're ready to buy your first home or if you open a cash ISA – you can continue saving up to £20,000, subscriptions limit per tax year.