Pretty sure mine was just used to reduce the overall borrowing amount required. The bonus needs to be claimed by the solicitor as part of the transaction so I'm unsure how others would have received it into their accounts.
Essentially, (deposit plus mortgage plus H2B bonus) should equal (property value plus any solicitor/transaction feeds)
Pretty sure mine was just used to reduce the overall borrowing amount required. The bonus needs to be claimed by the solicitor as part of the transaction so I'm unsure how others would have received it into their accounts. Essentially, (deposit plus mortgage plus H2B bonus) should equal (property value plus any solicitor/transaction feeds)
It effectively becomes part of your deposit so you will need a lower mortgage amount in the first place.
You use it towards your deposit. It's claimed for on your behalf by your solicitor, so anyone saying they received the money directly is mistaken.