Help to buy and (nationwide) save to buy ISAs

bitsandpieces

I don't think I'm eligible for one of the new help to buy ISAs? I haven't owned for some while, but did own a shared ownership home in the past. This rules me out?

In terms of other savings, I have a Nationwide Save to Buy ISA, with a standing order to pay in £50 per month (next payment going in during May). It pays a decent rate (2% up to £20k) but I think if it keep paying into this I won't be able to open another ISA this tax year?

bristolleedsfan

bitsandpieces wrote: »

Ibut I think if it keep paying into this I won't be able to open another ISA this tax year?

Yes that is true, bar fact you could also open another Nationwide ISA e.g its new 2% regular saver ISA.

I have last years ISA allowance in Nationwide Save to Buy ISA, I will either open a higher paying ISA elsewhere ( depending on availability) or top up S.T.B ISA to 20000 and maximum fund new Nationwide Regular Saver ISA

Before the usual chorus replies, I have already maxed higher paying non ISA accounts elsewhere.

Archi_Bald

bristolleedsfan wrote: »

Before the usual chorus replies, I have already maxed higher paying non ISA accounts elsewhere.

But you aren't asking the OP whether they have? How do you know that what's good for you is good for them?

So 'ere we go: OP, how much is in your ISA, how much are you planning to add by the end of this tax year, what is your tax rate?

bristolleedsfan

Archi_Bald wrote: »

But you aren't asking the OP whether they have? How do you know that what's good for you is good for them?

Key thing though is I answered O/P specific question.

I wasnt aware that post replies on here were supposed to be assessing individual circumstances and thus giving individual financial advice :rotfl:

To O/P, if your concern was that by opening an ISA this year with another provider that you wouldnt be able to keep to the "spirit" of making regular monthly deposits to Nationwides Save To Buy ISA account you could open a non ISA version specifically for that purpose.