Help to Buy ISA guide

Liz_Coggins

Archi_Bald wrote: »

If you buy this month, an HTB ISA will be no use to you for the reasons I gave earlier, and therefore the question of whether you can transfer in from any year, current or previous, doesn't arise.

If you were to buy in February, the situation would be different.

I posted a link to the official government Q&A for you, did you try to get your answer from there?

Thank you Archi Bald. Sorry - I missed that - have looked now - thanks for your help.

jimjames

stevelfc26 wrote: »

Quick question.

I already have a normal cash ISA which I've saving into monthly the for last 2 years.
Would I be able to open a Help to Buy ISA as well?

From what I understand so far, if you have already opened a cash ISA from a previous tax year then this should be okay?

Thank you

Not if you've paid in since April 2015.

Are you aware how much better rates you can get outside an ISA? Maybe worth removing all but £1200 from the ISA, transfer it to Halifax to get 4% HTB rate and put the remaining money in a current account.

stevelfc26

jimjames wrote: »

Not if you've paid in since April 2015.

Are you aware how much better rates you can get outside an ISA? Maybe worth removing all but £1200 from the ISA, transfer it to Halifax to get 4% HTB rate and put the remaining money in a current account.

Yeah I think I'll do what you've suggested.
thanks!

Gary1963

nat21luv wrote: »

Just opened a H2B ISA with Halifax and funded it with £1000. From what I understand reading Halifax's T&C I can add Decembers £200 in 21 days. I am really hoping I can get together enough deposit to be able to use this bonus and the H2B deposit scheme to buy my first home before it expires at the end of next year- wish me luck!

I transferred in the £1000 from my Halifax account and then transferred in the £200 for December immerdiately afterwards.

Sarah_Reeve

Hi, does anyone know if you can open this ISA if you are a Brit currently living abroad (i.e. not paying tax in the UK?) Thanks.

colsten

You are only eligible if you are a resident, or if you / your spouse / your parents if you are a minor are abroad on UK Government business.

nat21luv

Gary1963 wrote: »

I transferred in the £1000 from my Halifax account and then transferred in the £200 for December immerdiately afterwards.

Oh ok, thanks, I'll give it a go!

randomness_2

Just considering eligibility for these accounts, I understand the bonus is very much first time home buyers only. However, just wondering if it is possible to open one of these as a home owner, in order to get the improved rates, and to never touch the government scheme element of it (or does the strict definition apply on opening the account). Recently bought a house, so hoping to build up some reserves again!

Archi_Bald

You could, if you don't mind making a false declaration when opening the HTB ISA.

There are much better places for £200 a month, though - e.g. TSB Plus, TSB Monthly Saver etc

norm_

I opened an ISA with HSBC back in April (don't know exact date but assume it was after April 5th) and transferred the previous years ISA from a different provider into it.

Will that preclude me from opening HTB ISA, as I haven't actually subscribed to an ISA this year?