Help to buy ISA 4%

Rich2808

You can invest in the HSBC isa getting the £10 a month - if you have prior tax year isa investments. Assuming you can afford the monthly payment for the HSBC advance account!

You can transfer £300 from a prior year ISA to HSBC and then invest your 2015-16 allowance in the HTB ISA with HSBC or any other provider.

Of course Nationwide gives you more flexibility as you can invest your entire ISA allowance with them as a cash isa - not just a HTB isa as with other providers bar Aldermore.

colsten

Rich2808 wrote: »

Of course Nationwide gives you more flexibility as you can invest your entire ISA allowance with them as a cash isa - not just a HTB isa as with other providers bar Aldermore.

"Flexibility" is of very questionable value when you are saving for your first deposit, which is obviously what people with an HTB ISA are after. People can get 2 or 3 times the amount of interest Nationwide or Aldermore or Natwest would pay them in their "flexible" ISAs. That could be hundreds, if not thousands, of pounds of difference over a 5 year period, which many HTB ISA savers will probably be in for.

ruperts

Looks like a good deal for first time buyers. I wonder how much of the solicitors will charge in fees for administering the bonus though.

jimjames

ruperts wrote: »

Looks like a good deal for first time buyers. I wonder how much of the solicitors will charge in fees for administering the bonus though.

Max of £50.

Fuyu

Little confused around people who's already paid into Cash Isa's

I have £6,500 which i have paid into my Cash ISA this tax year.
So, basically I need to hold of until April the 6th correct?

colsten

Fuyu wrote: »

Little confused around people who's already paid into Cash Isa's

I have £6,500 which i have paid into my Cash ISA this tax year.
So, basically I need to hold of until April the 6th correct?

You don't have to wait until next April. Provided your existing ISA has no withdrawal restrictions, you could request Nationwide, Natwest or Aldermore to transfer your entire ISA to them (other providers may follow suit with similar offers). Then split £1,200 out into a new HTB ISA with the same provider.

Nationwide, Natwest and Aldermore are the only (so far) ISA providers that can manage so-called 'portfolio cash ISAs', where the ISA provider is allowed to offer you more than one cash ISA product in the same year, as they will manage the lot as one cash ISA.

If you search for other posts on HTB ISAs, you will find me rabbiting on about non-HTB cash ISAs to be terrible value for money. I would therefore suggest you search for those posts, and that, once you got your HTB ISA open, you move your non-HTB money to better interest-earning accounts.