Help to Buy ISA guide

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  • masonic
    masonic Posts: 23,275 Forumite
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    Jengles wrote: »
    I've opened an ISA and put in the £1200.

    It says I have to pay my £200 before 25th of each month. I get paid 26th/27th of each month so would be tight to pay it just before payday each month. Can I just pay early in the month or does that mean i'm going to somehow lose a month?
    If you were looking for information about your specific ISA, it might have been helpful to name it. If the terms state before the 25th, then "early in the month" would seem to fit the criteria, would it not?
  • ifu05596
    ifu05596 Posts: 21 Forumite
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    I currently own a property in my own name. Within 5years my wife and I are likely to build a property. Can my wife open the ISA? Would our joint name on new mortgage application in 5 years be an issue?
  • masonic
    masonic Posts: 23,275 Forumite
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    ifu05596 wrote: »
    I currently own a property in my own name. Within 5years my wife and I are likely to build a property. Can my wife open the ISA? Would our joint name on new mortgage application in 5 years be an issue?
    What does point 4 in the HTB ISA guide linked in the first post of this thread say about that?
  • jp02ned
    jp02ned Posts: 1 Newbie
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    Hello

    I have opened up a Help to Buy ISA with Halifax in January this year.
    As instructed, I opened the account with an initial transfer of 200GBP and then transferred the 1,000GBP deposit total within the first 20 days.
    So far so, good right?
    I will continue to top up the maximum of 200GBP each month, but is it possible to save additional money in the ISA and benefit from the 4% interest while still qualifying for the 25% back from the government when I close the account and buy a house?

    Thanks for the help
    Ned
  • jimjames
    jimjames Posts: 17,619 Forumite
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    jp02ned wrote: »
    I will continue to top up the maximum of 200GBP each month, but is it possible to save additional money in the ISA and benefit from the 4% interest while still qualifying for the 25% back from the government when I close the account and buy a house?

    Ned

    Simple answer, no. Maximum is £200 per month. Only way to get more is if you have a partner who can do the same.

    You can get 5% regular saver accounts though.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • colsten
    colsten Posts: 17,597 Forumite
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    jimjames wrote: »

    You can get 5% regular saver accounts though.
    Or even 6% ones :cool:
  • MP90
    MP90 Posts: 1 Newbie
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    My partner and I are first time buyers and the only possibility of us owning our own home is to look in to shared ownership: if we bought 30% of a house at 90,000 does this mean we would not receive the government bonus as the house value itself is over 250,000 even though there would be no possibility of us ever owning the entire 100%?
  • colsten
    colsten Posts: 17,597 Forumite
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    MP90 wrote: »
    My partner and I are first time buyers and the only possibility of us owning our own home is to look in to shared ownership: if we bought 30% of a house at 90,000 does this mean we would not receive the government bonus as the house value itself is over 250,000 even though there would be no possibility of us ever owning the entire 100%?


    You can combine various HTB schemes but the bonus on the HTB ISA is limited to properties that cost no more than £250K outside London, and no more than £450K in what's defined as London. For more info, please go to are 100% https://www.helptobuy.gov.uk/
  • mellowmarshyellow
    mellowmarshyellow Posts: 1 Newbie
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    Here's my story... I opened a Help to Buy ISA in December and saved £1,600. I then placed an offer to purchase a property which was accepted and the process of buying the property began. I closed the Help to Buy ISA based on information I read on this website and what the staff in branch told me, and handed the paperwork from the bank's branch to my solicitor. Unfortunately the seller of the property withdrew from the sale. I called the bank and they said I can't reopen my Help to Buy ISA, I would instead have to start from scratch, meaning I lose out on the £400 government bonus that I've earnt to date. Are the bank right or wrong? If they're right then this seems very unfair because I haven't benefited from withdrawing the money, and it wasn't my fault the seller withdrew.
  • htb90
    htb90 Posts: 1 Newbie
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    Hi there,

    just a quick question.
    a family member left a property for my sister and I, is and has always been in trust. with this can i still apply for the help to buy isa?

    Many thanks
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