Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Karen Artioli
    • By Karen Artioli 19th Apr 17, 7:16 PM
    • 5Posts
    • 2Thanks
    Karen Artioli
    Help to Buy ISA
    • #1
    • 19th Apr 17, 7:16 PM
    Help to Buy ISA 19th Apr 17 at 7:16 PM
    I've just had an offer accepted to buy a property and I was wondering if it's worth opening a Help to Buy ISA for me and my partner and put 1200£ in each to get the 25% government help, with means we would get 300£ each, 600£ total. Is it ok to opening the account and withdrawing as we will buy a property straight away? Thanks
Page 1
    • Jaglad111
    • By Jaglad111 19th Apr 17, 7:23 PM
    • 83 Posts
    • 126 Thanks
    Jaglad111
    • #2
    • 19th Apr 17, 7:23 PM
    • #2
    • 19th Apr 17, 7:23 PM
    You need to make the minimum threshold for the bonus, and the bonus won't be paid until completion, so don't plan it into your deposit, but it should be available to assist with fees afterward. Can't remember if the minimum is £1600 or £1800 to qualify.
    • ALostMachine
    • By ALostMachine 19th Apr 17, 7:32 PM
    • 11 Posts
    • 4 Thanks
    ALostMachine
    • #3
    • 19th Apr 17, 7:32 PM
    • #3
    • 19th Apr 17, 7:32 PM
    The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus.
    Seems the minimum is £1,600.
    • Karen Artioli
    • By Karen Artioli 19th Apr 17, 7:35 PM
    • 5 Posts
    • 2 Thanks
    Karen Artioli
    • #4
    • 19th Apr 17, 7:35 PM
    • #4
    • 19th Apr 17, 7:35 PM
    I've just found it: "The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus."

    Is it possible to claim the bonus after completition and have it discounted of the mortgage? Thanks
    • marliepanda
    • By marliepanda 19th Apr 17, 7:42 PM
    • 4,647 Posts
    • 9,307 Thanks
    marliepanda
    • #5
    • 19th Apr 17, 7:42 PM
    • #5
    • 19th Apr 17, 7:42 PM
    I've just found it: "The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus."

    Is it possible to claim the bonus after completition and have it discounted of the mortgage? Thanks
    Originally posted by Karen Artioli
    No. Its there to help you buy a house, not to cash in after youve already bought one.

    Unless you want to wait 3 months, youve missed the boat.
    Survey Earnings 2017 - £163
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,131Posts Today

7,931Users online

Martin's Twitter
  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Luciana is on the advisory board of @mmhpi (we have MPs from most parties) https://t.co/n99NAxGAAQ

  • Follow Martin