Help to Buy ISA guide

LittleBeastie89

colsten wrote: »

Whether you need to pay by SO or not depends on the provider. You need to check the T&Cs / speak to the provider of your HTB ISA.

On the point of interest payment: if you close an instant access ISA (which an HTB ISA is) before its usual interest payment date, all providers will pay interest up to the closing date.

Thanks I'm planning to go into the bank and ask it's just a hassle to go into the branch.

I thought that if I closed the ISA after only a few months of opening I would not be entitled to interest as this is paid on the anniversary of opening the account or with the annual tax year?

eskbanker

LittleBeastie89 wrote: »

I thought that if I closed the ISA after only a few months of opening I would not be entitled to interest as this is paid on the anniversary of opening the account or with the annual tax year?

You're not the first to have that misconception but no, as colsten says, you'd get all the interest you'd earned up to the date of closure whenever that is.

Rich2808

Aini wrote: »

Just please do avoid Virgin Money
I invested the full 15k limit in April 2015. Due to administrative issues over my name maiden vs married they are still holding the money nearly a year later. They refuse to return the money or open the account. They won't budge unless the Ombudsman rules against them, that could take months

Must be very annoying.

I have a Virgin money savings account - mainly so I can get free tea and coffee and biscuits at their Virgin money lounges which offer free wifi and comfy seats. They have two in London - oddly within a few hundred yards of each other at Piccadily Circus which is convenient for me.

I only get 0.75 per cent interest on my £100 savings balance - but when you add up the free refreshments it works out at a lot more!!

Scott_1974

I already own my own house. Can I open a Help to Buy ISA solely for the interest? I note that I can withdraw at any time and not receive the government bonus, just the interest. I would not be claiming any bonuses but am fed-up of receiving paltry interest on normal accounts/ISAs.

masonic

Scott_1974 wrote: »

I already own my own house. Can I open a Help to Buy ISA solely for the interest? I note that I can withdraw at any time and not receive the government bonus, just the interest. I would not be claiming any bonuses but am fed-up of receiving paltry interest on normal accounts/ISAs.

If you have ever owned or part-owned a property than you don't meet the criteria for a HTB ISA.

kingoranks

Help to buy ISA is rubbish for now. No one has a clue, the Gov, Banks,Solicitor and the industry. We have completed, money still in ISA. We are leaving the money in the account to earn interest. As for the help from the scheme, maybe someone somewhere will sort the scheme out.

Archi_Bald

kingoranks wrote: »

Help to buy ISA is rubbish for now. No one has a clue, the Gov, Banks,Solicitor and the industry. We have completed, money still in ISA. We are leaving the money in the account to earn interest. As for the help from the scheme, maybe someone somewhere will sort the scheme out.

If you have done what you were required to do (did you?), complain to your MP.

Jolstar

Hi,

My parents have recently bought their council house and I've been put on the deeds as a 25% owner.

Does this make me ineligible for a Help to Buy ISA despite me personally not paying for my share?

This is like more of an inheritance thing for when they pass on; but I am unsure either way?

Thanks

eskbanker

Jolstar wrote: »

My parents have recently bought their council house and I've been put on the deeds as a 25% owner.

Does this make me ineligible for a Help to Buy ISA despite me personally not paying for my share?

Correct, you aren't eligible as you own an interest in a property.

Jolstar

Thanks 👍🏿:money: