Help to Buy ISA guide

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  • Hello,

    Does anyone know how long online applications with either Santander or Natwest (as an existing customer) take to open a new Help to Buy ISA? Will I have a chance to open and pay in the £1,200 before the end of the financial year?

    Regards,
    atreides7887
  • brynhh
    brynhh Posts: 45
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    masonic wrote: »
    Yes, you can bring your payment forward to the beginning of the calendar month.

    Thanks a lot, was always a little confused by that but that's good to know. I'll change my standing order shortly then to do the transfer tomorrow.
  • Hi, Does anyone know if I would still qualify for a HTB isa if my new partner already owns a property with someone else? We intend to buy a property together in a few years.
  • eskbanker
    eskbanker Posts: 30,384
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    Hi, Does anyone know if I would still qualify for a HTB isa if my new partner already owns a property with someone else? We intend to buy a property together in a few years.
    Yes, see point 4 at http://www.moneysavingexpert.com/savings/help-to-buy-ISA#goldenrules:
    It's an individual product, couples are treated separately

    Help to Buy ISAs are for individuals, it's not about who's buying the house, it's simply about whether you're a first-time buyer. To make it plain:

    If you're a first-time buyer, buying with someone who's owned before, you CAN open one, they CAN'T.
  • I made a wee bit of a mistake.

    I accidentally sent my £200 twice this month, forgetting that I had sent it earlier. I just called my bank and they explicitly said that it won't cause any problem and that I would still be entitled to the bonus.

    I just wanted to get some other viewpoints on this, is this really the case? What happens with the extra money that I sent?
  • eskbanker
    eskbanker Posts: 30,384
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    Damorin wrote: »
    What happens with the extra money that I sent?
    Under the rules of the scheme they aren't allowed to accept more than £200 into a HTB ISA in any given month so my expectation would be that they'll return it to you. It won't jeopardise anything with the money that's already legitimately there though....
  • Ed-1
    Ed-1 Posts: 3,867
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    Damorin wrote: »
    I made a wee bit of a mistake.

    I accidentally sent my £200 twice this month, forgetting that I had sent it earlier. I just called my bank and they explicitly said that it won't cause any problem and that I would still be entitled to the bonus.

    I just wanted to get some other viewpoints on this, is this really the case? What happens with the extra money that I sent?

    Which bank is it?

    The general customer service call handlers might not know the specifics of the account. There will be systems in place to remove the excess funds.
  • Damorin
    Damorin Posts: 3 Newbie
    edited 18 April 2017 at 4:19PM
    Ed-1 wrote: »
    Which bank is it?

    The general customer service call handlers might not know the specifics of the account. There will be systems in place to remove the excess funds.

    Barclays.

    So far it seems they have accepted it. The funds are showing up in it, but it was only yesterday so I will keep an eye on it.
  • Ed-1
    Ed-1 Posts: 3,867
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    Damorin wrote: »
    Barclays.

    So far it seems they have accepted it. The funds are showing up in it, but it was only yesterday so I will keep an eye on it.

    Most banks would initially accept a payment in where systems are not clever enough to reject it automatically. But there will be systems in place as it's a HMRC requirement to comply with the terms of the account for excess payments in to flag up and the payment will then be manually removed and they might write to you.
  • Hi I've ran into problems with my Help to Buy ISA, my solicitor didn't claim the bonus ahead of purchase and now I'm left high and dry. Solicitor has said that she tried to resolve the problem but has been unable to. I can't seem to find any contact details for the scheme. Has anyone complained/queried help to buy isa in the past? Contact details would be useful.
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