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Can i use a help to buy isa with the right to buy schem?

If i was to set up a help to buy isa would I be able to use this and get the bonus if i was buying a council house via the right to buy scheme?

For example a £100,000 house with the maximum discount would be £40,000
if i saved the maximum for 1 year in a help to buy isa that would be £3,600 would i also be entitled to the £900.00 bonus? or just the £3,600 plus interest at avg2% from the bank?

Any help would be greatly appreciated

x

Comments

  • kingstreet
    kingstreet Posts: 38,691
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    I can't see any reason why not.

    Other than the maximum purchase price, there are few restrictions and a HTB ISA can be used for HTB Equity Loan and Shared Ownership purchases.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • If i was to set up a help to buy isa would I be able to use this and get the bonus if i was buying a council house via the right to buy scheme?

    For example a £100,000 house with the maximum discount would be £40,000
    if i saved the maximum for 1 year in a help to buy isa that would be £3,600 would i also be entitled to the £900.00 bonus? or just the £3,600 plus interest at avg2% from the bank?

    Any help would be greatly appreciated

    x

    If you're under 40, have you also considered LISA?
  • Yes I’ve had a quick look going to watch Martin Lewis next week before I decide, however buying with my parent who is a first time buyer but over 40
  • Yes I’ve had a quick look going to watch Martin Lewis next week before I decide, however buying with my parent who is a first time buyer but over 40

    How old is your parent?
    Bear in mind that once they own a home, it may be at risk if care home fees become an issue.
    Hopefully won't happen, but keep it in mind.

    I think you can use HTB ISA and LISA and your parent can use only HTB ISA.
  • She’s a young mum only mid forties
  • She’s a young mum only mid forties

    That's good news. Mid forties is young.
  • You are in England?
  • Yes midlands both British
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