Help to Buy ISA guide

dekkard

invuk wrote: »

Can't find this answer anywhere so just wondered if someone could help me out.

I already have a Help to Buy ISA and just wondered if I could open a Stocks and Shares ISA in the same tax year?

Thanks in advance.

Yes, you can. I asked a S&S ISA provider this question recently.

masonic

invuk wrote: »

I already have a Help to Buy ISA and just wondered if I could open a Stocks and Shares ISA in the same tax year?

A Help to Buy ISA is a cash ISA, so it prevents you from opening another cash ISA in the same tax year. It doesn't prevent you from opening any other type of ISA (S&S, lifetime, innovative finance).

Alexland

Just remember to keep within the £20k total annual contribution limit across all ISA accounts.

Ajhurst

Hi all
A little help regarding switching Help to Buy ISAs please. I have a Halifax HTB on 2% which I have been contributing to for a few years so has a decent amount in. I'd like to change to the Barclays HTB is a as they are offering 2.53%. I've been told that if I transfer my current balance I can't continue to pay the monthly amount into my new ISA. So I'm confused as to how I can chase the best interest rate as is recommended to do through this site. Can anyone advise?

Many thanks

dekkard

Ajhurst wrote: »

Hi all
A little help regarding switching Help to Buy ISAs please. I have a Halifax HTB on 2% which I have been contributing to for a few years so has a decent amount in. I'd like to change to the Barclays HTB is a as they are offering 2.53%. I've been told that if I transfer my current balance I can't continue to pay the monthly amount into my new ISA. So I'm confused as to how I can chase the best interest rate as is recommended to do through this site. Can anyone advise?

Many thanks

I did exactly that last year. Who told you otherwise?

Alexland

Ajhurst wrote: »

A little help regarding switching Help to Buy ISAs please. I have a Halifax HTB on 2% which I have been contributing to for a few years so has a decent amount in. I'd like to change to the Barclays HTB is a as they are offering 2.53%. I've been told that if I transfer my current balance I can't continue to pay the monthly amount into my new ISA.

Whoever told you that needs additional training as it was wrong information.

Alex.

Ajhurst

Thanks for the input. Ill try again then. Was told this by a member of staff at a Barclays branch

worzel_gummage

Hi,

I am a first time buyer with a help to buy isa. My partner already owns a property and has a mortgage that is fixed for another 2.5 years. In order to break these terms, we would have to pay £3000.

We are looking to sell his current property and buy a property together (this will involve a larger mortgage). If he was to port his current mortgage, to avoid paying £3000 to get out, would I still be able to claim the bonus from my help to buy isa?

Thanks in advance for any help and advice you can offer.

eskbanker

Regardless of the situation with partner and mortgages, if/when you're buying your first property then you can claim the bonus on your HTB ISA, as long as the property value is no more than £250K of course (£450K in London).

Alexland

worzel_gummage wrote: »

We are looking to sell his current property and buy a property together (this will involve a larger mortgage). If he was to port his current mortgage, to avoid paying £3000 to get out, would I still be able to claim the bonus from my help to buy isa?

Yes although if this is his second purchase up the property ladder is there any risk the value of the new property would exceed the £450k/£250k HTB ISA price limits?

Alex