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Help to Buy ISA? :O
helpto
Posts: 2 Newbie
Official MSE Insert:
You may also find our fully researched Help to Buy ISA guide helpful.
Back to the original post...
Hello MSE,
I have a mortgage in my own name and wish to add my long term girlfriend to the mortgage.
I wondered if she could take advantage of the Help to Buy ISA? She's never owned a home before.
The plan would be to re-mortgage when the fixed rate ends, with the new mortgage being a joint mortgage. Would the government top up her savings by 25%?
To complicate things further we plan to commence a self build next year, could she use a Help to Buy ISA to fund a self build?
You may also find our fully researched Help to Buy ISA guide helpful.
Back to the original post...
Hello MSE,
I have a mortgage in my own name and wish to add my long term girlfriend to the mortgage.
I wondered if she could take advantage of the Help to Buy ISA? She's never owned a home before.
The plan would be to re-mortgage when the fixed rate ends, with the new mortgage being a joint mortgage. Would the government top up her savings by 25%?
To complicate things further we plan to commence a self build next year, could she use a Help to Buy ISA to fund a self build?
0
Comments
-
The help to buy ISA only really benefits people who want to buy a place in 5yrs+.
It's good that you encourage people to save, but there are limits on how much you can save in the first year and then each month.0 -
Surely Help to Buy ISA benefits anyone who saves £1,600+? As you're making a 25% gain provided you save £1,600.0
-
Yes it's obviously a better rate than any other savings you'll get.
But when it came out the govt headline was that they'll give you up to £3k.
Which is true but a colleague and I worked out to get the full amount it would take 5yrs.
So it's better for people buying in a few years time rather than in the next 12months or so0
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