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Help to Buy ISA guide

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2.2K replies 349K views
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  • eskbankereskbanker Forumite
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    Can someone help me?
    I opened a Help-to-Buy ISA and have put my savings in there, however I now need to “dip into” my savings.
    I currently have £1,600 in my Help to Buy ISA, so I was wondering if it’s possible to withdraw or transfer £200 into my personal bank account without affecting the ISA in any way?
    Yes, HTB ISAs are all easy-access products, from which you can withdraw without penalty, although you can't pay it back in again other than at £200 per month, but the fact that you only have £1,600 in one suggests that you're not constrained by the product's maximum monthly contribution anyway.
  • garfield33garfield33 Forumite
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    I'm trying to transfer my HTB ISA to Halifax, the website says you have to phone up but then I got lost in a net of automated responses. The one time I did reach a human, he tried to put me through to the right dept, couldn't get hold of them, and when he gave me the direct number, that was the number I'd called in the first place. I'm not having a go, I know things are still difficult - just wondered if anyone had got through this week, and what you said / pressed to do it?
  • JemsnationJemsnation Forumite
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    For people looking to transfer, has anyone considered Natwest? I have mine with them and the rate is 2%.
    Opinion Panel £50 Lightspeed: £40 Pigsback: £303 Valued Opinions: £365 Media Transfer: £32 Juicy Brains- £30 American Consumer Opinion: £16 Freebie Networks: £220 Cashback Sites: £963.10 Competitions: £100
    Total Cash Value: £2119.10 Last updated: 16/05/17
  • garfield33garfield33 Forumite
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    For people looking to transfer, has anyone considered Natwest? I have mine with them and the rate is 2%.
    I don't think they're accepting transfers, I can't find anything on their website and MSE don't list them. Very happy to be corrected though!
  • JemsnationJemsnation Forumite
    412 posts
    Part of the Furniture 100 Posts Combo Breaker
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    For people looking to transfer, has anyone considered Natwest? I have mine with them and the rate is 2%.
    I don't think they're accepting transfers, I can't find anything on their website and MSE don't list them. Very happy to be corrected though!
    Ah OK, that would indeed explain why no one is switching to them. 
    Opinion Panel £50 Lightspeed: £40 Pigsback: £303 Valued Opinions: £365 Media Transfer: £32 Juicy Brains- £30 American Consumer Opinion: £16 Freebie Networks: £220 Cashback Sites: £963.10 Competitions: £100
    Total Cash Value: £2119.10 Last updated: 16/05/17
  • woodface7woodface7 Forumite
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    Re the £200 max monthly investment. 

    If you have some funds being transferred in from an ordinary cash ISA at another provider, does that count toward your monthly limit? 

    I have £50 landing in my NatWest H2Buy any day now and their ISA unit said I could safely make this month's £200 investment as the transfer-in sum isn't counted. 

    But she didn't sound 100% convincing. The gov FAQ page seems to suggest the limit is firm and that transfers in are not exempt. 

    Anyone know?
  • eskbankereskbanker Forumite
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    woodface7 said:
    Re the £200 max monthly investment. 

    If you have some funds being transferred in from an ordinary cash ISA at another provider, does that count toward your monthly limit? 

    I have £50 landing in my NatWest H2Buy any day now and their ISA unit said I could safely make this month's £200 investment as the transfer-in sum isn't counted. 

    But she didn't sound 100% convincing. The gov FAQ page seems to suggest the limit is firm and that transfers in are not exempt. 

    Anyone know?
    NatWest are wrong and the government are right!
  • garfield33garfield33 Forumite
    240 posts
    Part of the Furniture 100 Posts
    ✭✭
    I'm trying to transfer my HTB ISA to Halifax, the website says you have to phone up but then I got lost in a net of automated responses. The one time I did reach a human, he tried to put me through to the right dept, couldn't get hold of them, and when he gave me the direct number, that was the number I'd called in the first place. I'm not having a go, I know things are still difficult - just wondered if anyone had got through this week, and what you said / pressed to do it?
    Just an update - I got through eventually! Although the number on the website is meant to be specifically for ISAs, I ended up in general banking where a very helpful lady transferred me to another very helpful lady. Took about 30 minutes in total as they have to read out a lot of T&Cs... 
    Also for anyone else doing this - Halifax open up a 'normal' ISA for you, and then they later convert it into a Help To Buy - something to keep an eye on.
  • louis1204louis1204 Forumite
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    MoneySaving Newbie
    If I am a first time buyer, however my partner whom I am buying with isn't, would I still be able to use the money saved in the ISA for the deposit?
  • masonicmasonic Forumite
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    louis1204 said:
    If I am a first time buyer, however my partner whom I am buying with isn't, would I still be able to use the money saved in the ISA for the deposit?
    Yes, and you'll be able to claim the Government bonus providing you meet the eligibility criteria as an individual.
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