Help to buy ISA

MadMat

Does anyone in the "know" know how a first time buyer would be defined for the help to buy ISA?

I do not currently own a property, but have owned property in the past (it was repo'd when I lost my job approx 15 years ago)

Would I be considered a first time buyer again?

Mat

TCA

Help to buy ISAs don't exist yet. Nobody will know anything until the autumn, assuming they actually do go ahead.

jimjames

MadMat wrote: »

Does anyone in the "know" know how a first time buyer would be defined for the help to buy ISA?

I do not currently own a property, but have owned property in the past (it was repo'd when I lost my job approx 15 years ago)

Would I be considered a first time buyer again?

Mat

If you've owned a property before I think it would be unlikely but as above depends on the T&Cs.

macman

I can only see one definition of 'first time buyer': someone who has never owned a property. Not 'someone who does not currently own a property'.
The repo is not relevant.
However, since this was an election budget, what actually materialises in the future may be very different to the vague outline as announced..

Archi_Bald

One additional snippet in today's budget:

ISAs will be available for first time buyers to start saving into from 1 December 2015. First time buyers will be able to deposit £200 per month into their Help to Buy ISA at participating banks and building societies

So it is still a matter of "watch this space".