Help to Buy ISA guide

Stephen_Brown

masonic wrote: »

I refer you back to my previous post: "What you can't do is contribute new money to both, unless both are with a specialist provider who treats them as if they were one account."

So no, you can't pay into both.

[FONT=&quot]Apologies, I missed this for some reason![/FONT]

f2f

What's the distinction? Are you saying you can open a new cash ISA (to get a better rate) and transfer the money from a previous year's cash ISA (without contributing 'new' money) and keep paying into your htb isa at the same time?

masonic

f2f wrote: »

What's the distinction? Are you saying you can open a new cash ISA (to get a better rate) and transfer the money from a previous year's cash ISA (without contributing 'new' money) and keep paying into your htb isa at the same time?

Yes, you can do that.

colsten

masonic wrote: »

Yes, you can do that.

Only within the ltotal imits of the HTB ISA though - £1,200 max total in month 1, and £200 max in subsequent months.

masonic

colsten wrote: »

Only within the ltotal imits of the HTB ISA though - £1,200 max total in month 1, and £200 max in subsequent months.

Hmm? I interpreted that post as asking about making a cash ISA to cash ISA transfer while at the same paying into a HTB ISA. Not a cash ISA to HTB ISA transfer.

colsten

masonic wrote: »

Hmm? I interpreted that post as asking about making a cash ISA to cash ISA transfer while at the same paying into a HTB ISA. Not a cash ISA to HTB ISA transfer.

You might be right, not sure.

amr547

Is anyone any further forward with the help to buy isas/had a successful claim? I notice the online portal will be open from Thursday, assume that may provide more info and speed up the process?

colsten

amr547 wrote: »

Is anyone any further forward with the help to buy isas/had a successful claim?

There have been quite a few reports of successful claims, and none of the qualifying ones unsuccessful as far as I can see

Forrest87

Hi,
My son opened his HTB ISA and is now buying his first home. However, he won't qualify for a mortgage so is using the bank of mum and dad to fund it. Will he still qualify for the bonus even though he won't have mortgage?
Thanks....F

eskbanker

Forrest87 wrote: »

Hi,
My son opened his HTB ISA and is now buying his first home. However, he won't qualify for a mortgage so is using the bank of mum and dad to fund it. Will he still qualify for the bonus even though he won't have mortgage?
Thanks....F

No, see the last question at https://www.helptobuy.gov.uk/help-to-buy-isa/faq/

Can I buy a property without a mortgage?
No. The property you are buying must be mortgaged in order to be eligible for the government bonus.