Help to Buy ISA guide

afisher21

Just thought I would explain what I have done in terms of ISA and HTB ISA

Had £2000 in my cash ISA that I had been paying £20 a week into.

Transferred £800 into my current account so there was £1200 left in my cash ISA

Rang up Santander (who my cash ISA was with) to transfer that 1200 from my cash ISA to a HTB ISA.

By opening and transferring this into a HTB ISA it removed my cash ISA account and therefore only had a current account and HTB ISA.

jimjames

afisher21 wrote: »

By opening and transferring this into a HTB ISA it removed my cash ISA account and therefore only had a current account and HTB ISA.

If you open a TSB account then you'll get 5% on that £800 as well as the future £20 you add each week. Or use as your current account and you'll get 5% on everything up to £2000.

PeteinSQ

Hello, this is my first post to any of these forums so please be kind!

Currently we have an offset mortgage so any saving I can do I pay into the linked savings account. However, the interest rate on our mortgage is quite low and I wonder if I might do better with an ISA invested in funds and shares.

I was considering doing this through someone like Hargreaves Lansdown.

Do people with ISAs typically pay an amount in per month, or do they make a lump sum payment in at the end of the year? Whenever I've saved in the past I've always tried to make a payment per month (into the offset account).

Our mortgage is pretty small (only 1 x my salary) so not at all burdensome, and I contribute 13% of my salary into my pension. (Just in case that information is useful/relevant to the conversation!).

Thanks for your help!

PeteinSQ

Sorry I've posted this in the wrong forum by accident...

ronaldadio

Might be a silly question...
I was made bankrupt and lost my house a few years back.
I am now out of my bankruptcy and have been for a few years.
Because a bankruptcy wipes the slate clean, does that mean I am classed as a first time buyer?
Thanks

MARTYM8`

ronaldadio wrote: »

Might be a silly question...
I was made bankrupt and lost my house a few years back.
I am now out of my bankruptcy and have been for a few years.
Because a bankruptcy wipes the slate clean, does that mean I am classed as a first time buyer?
Thanks

No.

You have owned a property or had an interest in a property before.

So you are not eligible for the help to buy isa.

assarg1

Question, if I open a help to buy ISA and use an existing ISA to fund the 1st 1000, can I still keep the cash ISA open, I haven't put any funds into it in this tax year.

colsten

assarg1 wrote: »

Question, if I open a help to buy ISA and use an existing ISA to fund the 1st 1000, can I still keep the cash ISA open, I haven't put any funds into it in this tax year.

Yes you can. Whether it is sensible to keep the ISA is a different question as you might get better interest in a non-ISA account.

genbraine

What is classed as the Outer London Boroughs?

Are these the home counties so Herts, Beds, Bucks, Surrey etc?

Or are they the outer boroughs such as Barnet for example, that is still withiin the M25?

Rich2808

genbraine wrote: »

What is classed as the Outer London Boroughs?

Are these the home counties so Herts, Beds, Bucks, Surrey etc?

Or are they the outer boroughs such as Barnet for example, that is still withiin the M25?

The clue is does it have the words London borough in front and is Boris your Mayor. It has nothing to do with being inside or outside the M25 - as some areas within the M25 are not part of a London borough.

Barnet is a London borough Bedfordshire is not. There are postcode checkers available and the estate agent will know - just ask who the council tax is paid to.