Help to Buy ISA guide

JayPeaBee

Does the Help to Buy ISA apply In Scotland as well as England??

House buying rules are so different in Scotland but it seems unfair if the ISA doesn't apply?

Thanks

colsten

Did you read the guide? Does it say Scotland is excluded?

https://www.helptobuy.gov.uk/

silvercar

Anything wrong with opening a HTB ISA now ie 2015-16 year. Leaving the £1k in it until April 2017 and then moving it over to the LISA?

Assuming that (a) can move quickly to get it opened online and money deposited before Tuesday and (b) won't wish to purchase first property before April 2017.

beaumanor

My daughter believes the Help To Buy ISA terms are changing soon (to be less attractive) which means it needs to be started within the next few days. I haven't found anything indicating any changes like this. Does anyone else know?

colsten

No changes to the HTB ISA terms in the next few days, and probably also not in the next year or so. You can point your daughter at the HTB ISA site for details:

https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

darshRam76

Can one transfer a H2B ISA to a normal Cash ISA? Also will the government bonus get paid if the property is paid for using cash rather than a mortgage? Thanks

colsten

darshRam76 wrote: »

Can one transfer a H2B ISA to a normal Cash ISA?

I believe so, yes. Given the difference in interest rates between HTB and normal cash ISAs, nobody will be likely to want to do so.

darshRam76 wrote: »

Also will the government bonus get paid if the property is paid for using cash rather than a mortgage?

No. https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

darshRam76

Thanks for the quick response

catd87

Hello, can anyone tell me if I open a Help to buy ISA today, what is the maximum I can put in the account this month? Is it £1200 or can I put the £1600 to gain the £400 bonus?

My bank has reminded me that the current tax year ends on Tues 5th April. Am I better to wait till Wed 6th to open an new account or proceed before then?

Thank you all

silvercar

£1000 opening deposit and £200 each month. So £1200 in this tax year.

You then have the option of adding upto £200 a month through 2016-17 or you could wait until April 2017 and transfer the £1200 to a LISA (assuming you are under 40).