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  • FIRST POST
    • homi
    • By homi 5th Dec 17, 7:30 PM
    • 6Posts
    • 0Thanks
    homi
    Help to Buy ISA
    • #1
    • 5th Dec 17, 7:30 PM
    Help to Buy ISA 5th Dec 17 at 7:30 PM
    Hi , can anyone give me some advice on a Help to Buy ISA .

    I went into Natwest today to ask about opening a help to buy isa putting the full first deposit amount on the same day .

    I mentioned I was ready to buy if a property I liked came available but the mortgage advisor told me that it would not be worthwhile if i was looking to buy within the next 30 - 60days .

    Is this correct ? even if it is a small amount was received it would be better than nothing .

    thanks in advance
Page 1
    • CommitedToChange
    • By CommitedToChange 5th Dec 17, 7:41 PM
    • 1,048 Posts
    • 3,565 Thanks
    CommitedToChange
    • #2
    • 5th Dec 17, 7:41 PM
    • #2
    • 5th Dec 17, 7:41 PM
    https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/
    Attempting to buy a house
    • homi
    • By homi 5th Dec 17, 8:10 PM
    • 6 Posts
    • 0 Thanks
    homi
    • #3
    • 5th Dec 17, 8:10 PM
    • #3
    • 5th Dec 17, 8:10 PM
    thanks for the link , I was going to put the lump sum down £1200 followed in the next 2 months by £200 so would take me to the 1600 = £400 ( bonus) ? .

    Even if was to find in a couple of weeks it may take upto 3 months to complete .
    Is this correct?
    • CommitedToChange
    • By CommitedToChange 5th Dec 17, 8:15 PM
    • 1,048 Posts
    • 3,565 Thanks
    CommitedToChange
    • #4
    • 5th Dec 17, 8:15 PM
    • #4
    • 5th Dec 17, 8:15 PM
    Correct - and even longer depending on the chain. It's certainly worth doing now.
    Attempting to buy a house
    • homi
    • By homi 5th Dec 17, 8:38 PM
    • 6 Posts
    • 0 Thanks
    homi
    • #5
    • 5th Dec 17, 8:38 PM
    • #5
    • 5th Dec 17, 8:38 PM
    Thanks , I tried to explain to the Natwest advisor but they thought for the sake of a " few hundred " pounds it would not be worthwhile .

    Am I able to fund the ISA from my standard bank account as advisor said it would affect the my S&S ISA for the year .
    • CommitedToChange
    • By CommitedToChange 5th Dec 17, 9:05 PM
    • 1,048 Posts
    • 3,565 Thanks
    CommitedToChange
    • #6
    • 5th Dec 17, 9:05 PM
    • #6
    • 5th Dec 17, 9:05 PM
    Pfff every little helps.

    No idea on the isa clash I'm afraid.
    Attempting to buy a house
    • bobobski
    • By bobobski 5th Dec 17, 10:32 PM
    • 676 Posts
    • 1,536 Thanks
    bobobski
    • #7
    • 5th Dec 17, 10:32 PM
    • #7
    • 5th Dec 17, 10:32 PM
    Not exactly on the point you're asking about but I do hope you'll be using an independent mortgage broker when the time comes and not one affiliated with a lender
    #18: Save 12k in 2017: £11,385.86 / £12,000 (94.8%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £21,465.15 / £60,000 (35.7%) | Emergency fund by 31/12/2020: £1,663.13 / £5,000 (33.2%)
    • Gawatate
    • By Gawatate 6th Dec 17, 4:43 PM
    • 10 Posts
    • 11 Thanks
    Gawatate
    • #8
    • 6th Dec 17, 4:43 PM
    • #8
    • 6th Dec 17, 4:43 PM
    There are two different types of Isa in existence at present, cash Isas (which Help to Buy Isas fall under) and “Stocks and Shares Isas”. You are allowed to pay into one of each kind in a single tax year. I opened my HTB Isa at the begining of my house purchase 4 months ago and i am still waiting to exchange and complete so it is worth opening one now.
    Last edited by Gawatate; 06-12-2017 at 4:46 PM.
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