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  • FIRST POST
    • thoragunnr
    • By thoragunnr 14th Sep 17, 10:08 PM
    • 52Posts
    • 47Thanks
    thoragunnr
    Question about help to buy isa
    • #1
    • 14th Sep 17, 10:08 PM
    Question about help to buy isa 14th Sep 17 at 10:08 PM
    I have just opened a Help to buy isa.
    I was going to put £200 in that account and do this each month but I came to realise that with Christmas coming up , I wouldn't be able to afford Christmas and £200 in the isa.

    If I put in £100 in the isa for 3 months but £200 in the new year and each month until we're ready to buy, would I loose the government bonus or does it get added whenever the £200 is met ?

    Thank you
    •• #238 £1000 ef; £14.00/£1,000 •• H2B; £120.00 •• BLS:£10.88/£15,000 ••
    •• Retirement: £4.86 •• New Home FundJar: £5.83p •• VOSS Jar £0.00 ••
Page 1
    • Neil Jones
    • By Neil Jones 14th Sep 17, 10:22 PM
    • 735 Posts
    • 393 Thanks
    Neil Jones
    • #2
    • 14th Sep 17, 10:22 PM
    • #2
    • 14th Sep 17, 10:22 PM
    The bonus is paid on the amount when you buy a house regardless of how long it takes to get there. The minimum amount for any bonus at all is £1600 whether it takes three months or three years to get there.

    Remember you can put £1200 in in the first month. There is no obligation to put anything in the ISA at all every month if you don't want to or can't.
    • thoragunnr
    • By thoragunnr 14th Sep 17, 10:28 PM
    • 52 Posts
    • 47 Thanks
    thoragunnr
    • #3
    • 14th Sep 17, 10:28 PM
    • #3
    • 14th Sep 17, 10:28 PM
    ah i see.

    would it 'pay' to save up the initial £1,200 or just deposit normally?
    •• #238 £1000 ef; £14.00/£1,000 •• H2B; £120.00 •• BLS:£10.88/£15,000 ••
    •• Retirement: £4.86 •• New Home FundJar: £5.83p •• VOSS Jar £0.00 ••
    • Neil Jones
    • By Neil Jones 14th Sep 17, 11:31 PM
    • 735 Posts
    • 393 Thanks
    Neil Jones
    • #4
    • 14th Sep 17, 11:31 PM
    • #4
    • 14th Sep 17, 11:31 PM
    You can put up to £1200 in in the first calendar month only. After that its capped at £200 a month. There is no cap as far as I know to the number of contributions you can make to this ISA providing it doesn't exceed £200 a month, so that works out to around £6.45 a day on a 31 day calendar month, slightly more in September, April, June and November and also February

    That being said, because of the interest you get (somewhere around 2.2%?) the sooner you can get the money in the more chance it'll have to grow so if you can get it in as soon as possible the better.
    • Rich2808
    • By Rich2808 15th Sep 17, 5:00 PM
    • 478 Posts
    • 385 Thanks
    Rich2808
    • #5
    • 15th Sep 17, 5:00 PM
    • #5
    • 15th Sep 17, 5:00 PM
    If possible you really want to pay in the £1200 in month 1 (£1k lump sum and £200 monthly cap) - you cannot use the HTB isa to buy a property and get the bonus until you have saved £1,600.

    So you would have to save for 8 months to get the same bonus in 3 months if you save the £1200 initially.

    But you can pay in as much or as little as you can afford each month or nothing. Maximum £1200 in month 1 and £200 thereafter.
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