Help to Buy ISA guide

eskbanker

salvargio1 wrote: »

My partner and I are now saving to buy a house.
I have a house and a rental property that I own and am therefore not eligible to the scheme.

However my partner has never owned a property and has always rented.
I understand that she is eligible to the scheme.

But how does this work as to us putting the deposit on a property.
Is it as straightforward as she will get a 25% bonus on her ISA savings and I too can put my portion of deposit down?

Yes, the deposits on any HTB ISA-assisted purchase can always be supplemented with money from other sources, so as well as her 25%-enhanced HTB pot, you and/or she can augment this with additional savings.

Pythagorous

Is this worth opening for my children (aged 10 and 8) for the future?

masonic

Pythagorous wrote: »

Is this worth opening for my children (aged 10 and 8) for the future?

They wouldn't be eligible at those ages, and the scheme is about to close.

GrantyPants

I’m looking to open a Help to Buy ISA but opened a Macus Online Savings Account a few months ago. Does anyone know (and this may be a daft question!) if the Marcus account is considered an ISA?
If it is then I won’t be able to open a HTB ISA as it would be in the same tax year.

Thanks!

masonic

GrantyPants wrote: »

I’m looking to open a Help to Buy ISA but opened a Macus Online Savings Account a few months ago. Does anyone know (and this may be a daft question!) if the Marcus account is considered an ISA?
If it is then I won’t be able to open a HTB ISA as it would be in the same tax year.

As far as I'm aware, Marcus does not offer an ISA.

Cbarrett218

I am a first time buyer who has been saving into a Santander everyday bank account. If I now open a HTB isa and start saving in that. When it comes to buying our first home can I use both the HTB isa and my Santander account to put towards the house deposit. Thanks Courtney

Ngozi

Yes you can use both.
I'd recommend opening a Life Time ISA too, keep saving in the H2B and any other account that has an ok interest rate.
Then before the tax year comes to an end, put as much, upto £4k into the lifetime ISA to get another 25% bonus.

Ngozi

Oh, the H2B doesn't go towards the initial deposit as such, might want to read up on it.

The lifetime ISA does

Jack_Murphy95

Hello,

Please could someone confirm what the rules are regarding a first tim buyer and a current home owner buying a house with the help to buy equity loan after the 2021 deadline

Thanks

eskbanker

Jack_Murphy95 wrote: »

Please could someone confirm what the rules are regarding a first tim buyer and a current home owner buying a house with the help to buy equity loan after the 2021 deadline

It's not really a question for this thread, which is all about the Help To Buy ISA.

The Help To Buy Equity Loan is a completely different scheme, so read up on it at https://www.helptobuy.gov.uk/equity-loan/further-guidance/ and maybe try the house buying board if you have any follow-up questions....