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
    • Dom_Fletch89
    • By Dom_Fletch89 8th Jun 17, 9:01 PM
    • 10Posts
    • 0Thanks
    Dom_Fletch89
    Help To Buy ISA
    • #1
    • 8th Jun 17, 9:01 PM
    Help To Buy ISA 8th Jun 17 at 9:01 PM
    Evening all,

    Currently have a HTB ISA and have just opened a lifetime ISA with Skipton Buidling Society. Myself and my partner are looking to utilise the Help To Buy Equity Loan in around 12months time. I was just wondering if you need to have a HTB ISA account open in order to apply for the loan or can the money come from any sort of savings account?

    Just been doing some shopping around and can get slightly better interest rates with other savings accounts compared to the HTB ISA with higher monthly pay in amounts so thinking of just transferring money out from the HTB into my Lifetime ISA and then continuing to save in a separate savings account.

    Thanks
Page 1
    • bob bank spanker
    • By bob bank spanker 8th Jun 17, 9:38 PM
    • 280 Posts
    • 400 Thanks
    bob bank spanker
    • #2
    • 8th Jun 17, 9:38 PM
    • #2
    • 8th Jun 17, 9:38 PM
    You might want to try posting this on the ISA and tax free savings board
    • kingstreet
    • By kingstreet 9th Jun 17, 8:15 AM
    • 31,454 Posts
    • 16,809 Thanks
    kingstreet
    • #3
    • 9th Jun 17, 8:15 AM
    • #3
    • 9th Jun 17, 8:15 AM
    Myself and my partner are looking to utilise the Help To Buy Equity Loan in around 12months time. I was just wondering if you need to have a HTB ISA account open in order to apply for the loan
    Originally posted by Dom_Fletch89
    No you don't.

    The two things are totally unrelated apart from HMG's unfortunate tagging of anything to do with housing as 'Help To Buy.'
    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.
    • Dom_Fletch89
    • By Dom_Fletch89 9th Jun 17, 8:33 AM
    • 10 Posts
    • 0 Thanks
    Dom_Fletch89
    • #4
    • 9th Jun 17, 8:33 AM
    • #4
    • 9th Jun 17, 8:33 AM
    No you don't.

    The two things are totally unrelated apart from HMG's unfortunate tagging of anything to do with housing as 'Help To Buy.'
    Originally posted by kingstreet
    Great, thanks so much for the reply. So I'd be OK moving my money out of my HTB ISA into a separate savings account and will still be able to apply for the equity loan when the time comes?
    • kingstreet
    • By kingstreet 9th Jun 17, 10:16 AM
    • 31,454 Posts
    • 16,809 Thanks
    kingstreet
    • #5
    • 9th Jun 17, 10:16 AM
    • #5
    • 9th Jun 17, 10:16 AM
    Yes.

    As stated, the source of deposit is irrelevant to Help To Buy - Equity Loan.
    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.
    • DumbMuscle
    • By DumbMuscle 9th Jun 17, 11:03 AM
    • 137 Posts
    • 141 Thanks
    DumbMuscle
    • #6
    • 9th Jun 17, 11:03 AM
    • #6
    • 9th Jun 17, 11:03 AM
    Great, thanks so much for the reply. So I'd be OK moving my money out of my HTB ISA into a separate savings account and will still be able to apply for the equity loan when the time comes?
    Originally posted by Dom_Fletch89
    You could, but you would be better off transferring it into your lifetime ISA (as then you will still get the bonus on the money).
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

3,352Posts Today

7,277Users online

Martin's Twitter