Help to Buy ISA - 1 December

brit1234

I'm going for it, saving rates are terrible.

mayonnaise

irrationalactor wrote: »

I currently save a lot more than £200 a month. But no other savings account is going to give me 25% over four years.

It's not really 25% over 4 years, is it?
It's 25% on whatever you save under the scheme, whether you cash in in year 1, 2, 3 or 4. (minimum £1,600).
The £200 monthly limit is a bit meagre yes, but don't look a gift horse in the mouth as they say....

irrationalactor wrote: »

Giving up your ISA allowance is a huge deal. The tax treatment of non-ISA savings might be favourable at the moment, but there's no guarantee that that won't change again,

Agreed, there is no guarantee, but IMO highly unlikely it will change during the remainder of this parliament.

stator

The minimum bonus size is £400. So that means you have to pay in £1000 deposit, plus £200 per month for 3 months = £1600 to get your £400 bonus, otherwise you get nothing before the 3 months are up?

Can you pay in £200 in december if you also put the maximum deposit in when you open it?
So that would mean the earliest you could get the bonus is February

Also, will solicitors charge extra for all this admin they have to do?

caronoel

brit1234 wrote: »

I'm going for it, saving rates are terrible.

Does this mean you'vd finally grown a pair and you are intending to buy brit?

What are you now? 40? And still living in a singlr room in police accommodation with shared bathrooms and cooking areas?

What happened to your predictions of 50% down from 2009 levels?

If ever there was a time to sell, it will be the day that brit finally buys.

michaels

I can't be a first time buyer but a 4%(Halifax) multi year tax free regular saver looks attractive.....

wymondham

It would be easier if house prices weren't encouraged to be so high in the first place?

mayonnaise

Updated HTB ISA guide from Martin.
http://www.moneysavingexpert.com/savings/help-to-buy-ISA?_ga=1.193405678.252866763.1449086689

Interesting point 7

The rules say you can’t open a cash ISA and a Help to Buy ISA at the same time in the same tax year.
Yet there is a way round this. Five providers allow ‘split ISAs’ - here they manipulate the rules to put the Help to Buy ISA and a cash ISA together in the same wrapper, effectively allowing you to have both.

ShowUsTheMoney

It says as a parent you can do this for your kids, but how does this work. Is it just a case of them opening in their name and you pay into it ??

setmefree2

ShowUsTheMoney wrote: »

It says as a parent you can do this for your kids, but how does this work. Is it just a case of them opening in their name and you pay into it ??

The kids open the Help to Buy ISA (which is done in seconds if they use their own bank) - then you can trs the initial money in (£1200) and set up a monthly SO for £200 (the max).

mayonnaise

Graham_Devon wrote: »

As for the uptake - there has been very little interest so far

Back in the real world:

Help to Buy Isa: 140,000 have already applied
Deposit help for first-time home buyers proving popular

http://www.which.co.uk/news/2016/01/help-to-buy-isa-140000-have-already-applied-430062/