Help to Buy ISA guide

colsten

ziggycj wrote: »

I opened a Help 2 Buy ISA but have just been told that I can't transfer my previous ISAs (2014-15) as the amount will go over the £1200. I thought with H2B you could still transfer your old ISAs.

Check post 376.

ziggycj wrote: »

Also, If you can transfer old ISAs will you get 4% interest on everything or is it only the H2B amount?

you get 4% on anything you [are allowed to] have in a 4% account

Lolly88

I know this question is probably better suited for the mortgage forum but I didn't want to start a new thread so hope it can be answered here. When applying for a mortgage can you count the money that you will earn from the government with the HTB ISA as part of your deposit or do you need to already have the full deposit. e.g. 10k deposit on 100,000 house, do you need 10k in full already or could you have 9100 (3600 HTB ISA) and then 900 from government?

colsten

The Treasury seem to think that the bonus will be added to your deposit:

How do I apply for my bonus?
When you find your home, your mortgage lender will ask you to hire a solicitor or conveyancer. They will handle all of the legal aspects of buying your home, including applying for your government bonus. When you are close to finishing your purchase, you will need to let your Help to Buy: ISA provider know, and close your account and you will receive a closing letter. You will need to take this letter to your solicitor or conveyancer so that they can apply for your bonus. They will add this to the other money you are putting towards your first home.

Don’t just withdraw all of your money as you will not receive the closing letter and you won’t be able to claim your bonus.

If you lose your closing letter, your bank or building society will be able to give a new one.

- See more at: http://www.helptobuy.gov.uk/help-to-buy-isa/faq#sthash.K9q3Vh8N.dpuf

4tex

Apologies for cross-posting but looking for a quick reply as only have 2 days to solve this problem or I lose the ability to deposit £1,000 as my 21 days will be up....

Can anyone help me because I am going out of my mind.

I recently set up a Help to Buy ISA with Halifax. I don't bank with them but didn't think this would be an issue as everything I've read has indicated that this isn't necessary (ie. no linked account needed, no mention of needing to bank with Halifax whatsoever). After receiving my new online banking details activation code, I've just logged on for the first time and I can't see anywhere how I can deposit funds. The only options are to top up my ISA within another Halifax account (I don't have one) and to transfer money from an existing ISA (I don't have another ISA).

Can anyone help as it looks like I've wasted my time and have lost out on a whole month of being able to deposit funds.

Thanks so much in advance.

colsten

see your other thread for answer.

Help__2

If I have an existing Cash Isa can I continue to pay into it and a Help to Buy Isa once I don't exceed the annual £15K combined limit between the two accounts?

Bexter73

Hi, I was looking for a savings account and saw this 'help to buy ISA' and makes sense to save here instead as I am looking to purchase a house early next year.

My question is.. I am thinking of buying in the Streatham area and my house may be upto 350-400K. Now according to the help guide I believe I can purchase upto 450k within London-outa London Boroughs. Is that correct?

colsten

Help_ wrote: »

If I have an existing Cash Isa can I continue to pay into it and a Help to Buy Isa once I don't exceed the annual £15K combined limit between the two accounts?

Yes and no - please do read back a few posts for a full answer.

colsten

Bexter73 wrote: »

My question is.. I am thinking of buying in the Streatham area and my house may be upto 350-400K. Now according to the help guide I believe I can purchase upto 450k within London-outa London Boroughs. Is that correct?

http://www.helptobuy.gov.uk/help-to-buy-isa/who-is-eligible

MISS.86

Morning,

I've just opened a HTB ISA but I'm a bit confused regarding the rules for existing cash ISAs. I regularly pay into an ISA that I opened a few years ago, but it isn't new for this tax year. Do I need to close it and withdraw the funds now?

Thanks!:D