Help To Buy Isa some advice needed please

freeofdebt1977

Can someone advise me please, I am considering to opt into the Help To Buy Isa scheme which will start in the Autumn. Currently I live with my partner soon to be wife (in 2016) in a Apartment she owns. I plan to save £200 per month under the new scheme for four years to avail of the £3000 "bonus" at the end of the term.
My questions are as my partner is a home owner can she be a joint owner with me when I decide to buy a house?
I am now 37 at the end of the term I will be in my early 40s, will I even get a mortgage at this age?
My credit history is fair at the moment by the time I have the money saved under this scheme it will be good again.

Thrugelmir

A first-time buyer is someone who does not and has never owned an interest in a residential property, either inside or outside the UK.

So no she wouldn't.

freeofdebt1977

Can you elaborate please, are you saying she cannot be a joint owner with me as she has already owned a house?

Red-Squirrel_2

"You can still get one of these ISAs even if you're buying with someone who isn't a first-time buyer, though they won't be able to open one of these ISAs."

That's from Martin's guide to the new ISAs on here, so you should be fine.

amnblog

Your Partner cannot have a Help to Buy ISA (not available if not a first time buyer) but you can.

Remember, when the scheme opens in the Autumn you can make an initial £1,000 contribution to make up for the allowance lost since the budget.

If you have a H2B ISA you cannot have a Standard Cash ISA in the same year.

The £3,000 bonus is only payable if you buy into the H2B scheme.

This_Girl

If my husband was the sole/main applicant for a mortgage (as in...I earn a big fat salary of £0 ), would I as his spouse be able to have a H2B ISA too and receive the bonus if he went ahead with a mortgage to take advantage of 2x bonus towards a deposit?

Both of us are FTBs.

Sorry if that is badly worded... and sorry for thread-jacking you OP, didn't want to clog up the board with a short question x

amnblog

You don't need an income to invest in any ISA.

This_Girl

amnblog wrote: »

You don't need an income to invest in any ISA.

Thank you for your reply Sorry, my question was worded badly. I know I would be able to open the ISA and pay into it, but would the bonus be payable if my husband got a mortgage but I was just named on it?