Help to Buy ISA guide

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  • RobinHood84
    RobinHood84 Posts: 1 Newbie
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    If you have been saving your property deposit else where and are lucky enough to be able to transfer the whole £12,000 on day one a) can you? And b) would you then be eligible for the £3,000 bonus strait away?
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    a) no
    b) no

    You might find out more about the scheme if you read the HTB ISA guide.
  • Calum1990
    Calum1990 Posts: 11 Forumite
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    Hi guys, now that the first lot of subscribers to this scheme could have actually claimed their bonus what was the reality of the process?

    I ask this as we have our DIP ready with a broker and i contacted a local conveyancing solicitor to ask for a quote on a house at the top of our budget including pricing of claiming the H2B ISA for both myself and my partner when the time comes. This quote would then be used against the MA recommended solicitors quote. We both have our £1600 minimum amount in the accounts. This solicitor was then on the phone to me asking what this scheme was and was i sure it was them who would have to process this paperwork for me etc. This is pretty frightening that a conveyancing solicitor is unaware of the scheme and what it entails at this stage.

    thanks for any feedback.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    To counter-balance your experience: http://forums.moneysavingexpert.com/showthread.php?t=5409359

    What you encountered is essentially no different to bank employees being clueless about ISAs, or savers being clueless about best deals. Conveyancers/solicitors can also be clueless. When people are involved, there is always the possibility of failure.

    You could change your Solicitor, or point them at this website: https://www.helptobuyisaadmin.org.uk/conveyancers/the-scheme
  • Calum1990
    Calum1990 Posts: 11 Forumite
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    This was just a local solicitor and i certainly wont be using them if they are not up to speed with the latest schemes. Thanks for your reply
  • AmaaraKhan
    AmaaraKhan Posts: 1 Newbie
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    Hi everyone,

    I would like to know if any banks etc. offer non-interest 'help to buy' cash ISAs or if any will be willing to consider not applying interest?

    I havent had interest based accounts/transactions for quite a while and am only now considering it for a mortgage in order to buy a house, but would still like to minimise interest based earnings in all other aspects of financing.

    I really want to utilise this scheme, but don't want to do it via an interest earning account? Any alternatives?

    Many thanks in advance.

    Amaara
  • jimjames
    jimjames Posts: 17,636 Forumite
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    Calum1990 wrote: »
    This was just a local solicitor and i certainly wont be using them if they are not up to speed with the latest schemes. Thanks for your reply
    You're probably the first to ask as the scheme has just launched. I wouldn't draw any conclusions from any lack of immediate knowledge.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • masonic
    masonic Posts: 23,361 Forumite
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    AmaaraKhan wrote: »
    I really want to utilise this scheme, but don't want to do it via an interest earning account? Any alternatives?
    At present there isn't a huge list of HTB ISAs and none of the ones I've seen so far are Sharia compliant. You could contact one of the banks offering Sharia compliant ISAs, such as Al Rayan, to see if they are planning to launch a HTB ISA.
  • 7sefton
    7sefton Posts: 607 Forumite
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    Anyone else having a nightmare with the Halifax over HBISAs? They've already paid me £210 in compensation for mis-information and still nobody in branch or on the phone can give me a definite answer on the following:

    I closed my account on 1 Feb, but have only received a standard closing statement in the post. I was under the impression I would get a special closing letter/statement to give to my conveyancer to claim the bonus. But Halifax say the statement is adequate...?

    Also, if I am due to complete in the next few days (ie too late for the conveyancer to claim the bonus due to Halifax delays), can my conveyancer still claim it and then pay it to me as an account settlement a few days after completion?
  • colsten
    colsten Posts: 17,597 Forumite
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    Check on https://www.helptobuy.gov.uk for what you should do, and what they should do.

    If they fail to do what they should be doing, for the ultimate 'nuclear', escalate to antonio.osorio at lloydsbanking.com. It's what I would do if Branch & CS make no sense.
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