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Help to Buy ISA guide

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  • I purchased a house using the HTB Loan in 2013, but sold it in 2015. I now rent.

    Am I right in thinking I can't do an ISA, as I owned one before, but I can still do the equity loan option instead?
  • Hi all

    Can somebody clarify if I will be entitled to the bonus if I, having never owned property, later take a joint mortgage with my wife who does own a property? I am presuming I will be entitled to it based on all the guidance, but I didn't know if our marital status counted against it. I asked at the Barclays desk and they seemed to think I wouldn't get it, so if somebody knows different I would be grateful.
  • masonic
    masonic Posts: 27,176 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    paddyposh wrote: »
    I purchased a house using the HTB Loan in 2013, but sold it in 2015. I now rent.

    Am I right in thinking I can't do an ISA, as I owned one before, but I can still do the equity loan option instead?
    Yes, you'd be right in thinking that.
    Swos wrote: »
    Can somebody clarify if I will be entitled to the bonus if I, having never owned property, later take a joint mortgage with my wife who does own a property? I am presuming I will be entitled to it based on all the guidance, but I didn't know if our marital status counted against it. I asked at the Barclays desk and they seemed to think I wouldn't get it, so if somebody knows different I would be grateful.
    Barclays probably wouldn't put you on the mortgage unless you had a legal interest in the property. Presumably you have been living in the property with your wife as your primary residence. The property would therefore be considered a marital asset, which could be why Barclays hasn't asked you to formally be put on the title deed. So I think Barclays is right in this instance, whether or not you go ahead with the joint mortgage.
  • I'm talking about a hypothetical new mortgage because we're thinking of moving to a bigger property. Barclays isn't our mortgage broker, I'm just interested in opening the ISA with them because of their interest rate. So I suppose it breaks down like this:

    1) I have never owned a property.
    2) My wife owns a house, of which I am not on any legal document for (but pay housekeeping).
    3) In the future we want to move and will be looking for a joint mortgage.

    Will I be entitled to the 25% given that a) I have never owned a property but b) I am now married and c) I will be getting a joint mortgage with somebody who does own a property?
  • masonic
    masonic Posts: 27,176 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Swos wrote: »
    I'm talking about a hypothetical new mortgage because we're thinking of moving to a bigger property. Barclays isn't our mortgage broker, I'm just interested in opening the ISA with them because of their interest rate. So I suppose it breaks down like this:

    1) I have never owned a property.
    2) My wife owns a house, of which I am not on any legal document for (but pay housekeeping).
    3) In the future we want to move and will be looking for a joint mortgage.

    Will I be entitled to the 25% given that a) I have never owned a property but b) I am now married and c) I will be getting a joint mortgage with somebody who does own a property?
    If you were unmarried this would not be an issue as you'd have no rights over the property.

    However, as you are married, I can only restate what I wrote above: "Presumably you have been living in the property with your wife as your primary residence. The property would therefore be considered a marital asset" (i.e. jointly owned, regardless of what's on the title deed). HM Treasury could therefore rightly argue that you currently have a legal interest in property and would not qualify for the scheme. It would be reasonable to suppose that checks would be performed on mortgage, land registry and marriage records if HM Treasury was inclined to try to identify those who had profited from the scheme without being eligible.

    Of course, nobody here can say anything categorical and if in doubt you should obtain your own legal advice, taking into account all of your personal circumstances.
  • Keen to set up a HTB ISA for my 17yo son but not sure if I/he can.

    Thanks in advance for advice
  • masonic
    masonic Posts: 27,176 Forumite
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    KM1964 wrote: »
    Keen to set up a HTB ISA for my 17yo son but not sure if I/he can.

    Thanks in advance for advice
    A CTF does not count as an ISA. Even if he had a Junior ISA, he'd also be able to open a HTB ISA at that age and fund both.
  • Hi all, I have a mortgage but my partner doesn’t - he lives in my house (our house, that sounds terrible!)

    I take it he’d still be eligible for the ISA? To use to buy with me? We probably want to buy next year.
  • masonic
    masonic Posts: 27,176 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Hi all, I have a mortgage but my partner doesn’t - he lives in my house (our house, that sounds terrible!)

    I take it he’d still be eligible for the ISA? To use to buy with me? We probably want to buy next year.
    If you are unmarried then yes, he'd be eligible if you bought a new house together.
  • If a teen is turning 16 9 days after the deadline, is there anyway to get them a HTB ISA?
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