Tell us you cash ISA questions

crmoss

Hi,
My partner and I are in the process of buying our first home. 
I have a Help to Buy ISA in my name, my partner has a Lifetime ISA in her name. 
I am aware that couples buying together can both have separate lifetime ISAs and both claim their separate 25% government bonuses, and similarly if the couple has two separate help to buy ISAs they can both claim their separate 25% government bonuses. I am also aware that an individual who has both a lifetime ISA and a help to buy ISA can of course only claim one bonus.
But can we, as a couple making a joint purchase, claim the bonuses individually from our one, separate lifetime ISA and our one, separate help to buy ISA?
I have contacted help to buy to ask but they were reluctant to comment on lifetime ISAs.

Thanks.

grumiofoundation

crmoss said:

Hi,
My partner and I are in the process of buying our first home. 
I have a Help to Buy ISA in my name, my partner has a Lifetime ISA in her name. 
I am aware that couples buying together can both have separate lifetime ISAs and both claim their separate 25% government bonuses, and similarly if the couple has two separate help to buy ISAs they can both claim their separate 25% government bonuses. I am also aware that an individual who has both a lifetime ISA and a help to buy ISA can of course only claim one bonus.
But can we, as a couple making a joint purchase, claim the bonuses individually from our one, separate lifetime ISA and our one, separate help to buy ISA?
I have contacted help to buy to ask but they were reluctant to comment on lifetime ISAs.

Thanks.

Believe you can as long as the purchase follows the rules of both schemes (practically meaning must be under £250,000 if outside London). 

masonic

crmoss said:

Hi,
My partner and I are in the process of buying our first home. 
I have a Help to Buy ISA in my name, my partner has a Lifetime ISA in her name. 
I am aware that couples buying together can both have separate lifetime ISAs and both claim their separate 25% government bonuses, and similarly if the couple has two separate help to buy ISAs they can both claim their separate 25% government bonuses. I am also aware that an individual who has both a lifetime ISA and a help to buy ISA can of course only claim one bonus.
But can we, as a couple making a joint purchase, claim the bonuses individually from our one, separate lifetime ISA and our one, separate help to buy ISA?
I have contacted help to buy to ask but they were reluctant to comment on lifetime ISAs.

Thanks.

Each individual can use one of the schemes towards a qualifying house purchase. They do not have to use the same scheme as any other individual involved in the purchase.

aubron

Do you get extra money added when you take out a cash isa?

grumiofoundation

aubron said:

Do you get extra money added when you take out a cash isa?

You get paid interest is that what you mean ?

Or are you confusing a cash ISA with a lifetime ISA (which can be a cash lifetime ISA)?

Mbtn

Has anyone had difficulty opening Coventry's new Triple cash Isa?  I keep getting a message "page unavailable". Coventry told me that the online application is working but they also say that some applicants are experiencing trouble with some browsers. I've tried three different browsers and they all return the same message. "Page Unavailable".

Bookmad14

Does anyone know if you can have a Help to buy Isa & a cash ISA in the same year and pay into both e.g £2000 in Help to buy and up to £18,000 in cash isa?

grumiofoundation

Bookmad14 said:

Does anyone know if you can have a Help to buy Isa & a cash ISA in the same year and pay into both e.g £2000 in Help to buy and up to £18,000 in cash isa?

Only if they are with the same provider and that provider offers a split ISA.

ldp

Hi I’m after advise about putting my money into children’s ISA’s as an investment for a property in years to come. Can I save into my kids accounts as if I were paying a mortgage & then take it out & use to buy a hse? (Our current home is mortgage free but with a charge on it if 38.75% after a divorce to be sold in 9yrs) My aim is to be able to afford a property in 9yrs but I don’t know how I can save legally now without it affecting my child tax credits? Thanks 

masonic

ldp said:

Hi I’m after advise about putting my money into children’s ISA’s as an investment for a property in years to come. Can I save into my kids accounts as if I were paying a mortgage & then take it out & use to buy a hse? (Our current home is mortgage free but with a charge on it if 38.75% after a divorce to be sold in 9yrs) My aim is to be able to afford a property in 9yrs but I don’t know how I can save legally now without it affecting my child tax credits? Thanks 

No, if you pay money into a Junior ISA it becomes the child's money and is locked away. They can access it once they turn 18.