Would I be allowed a help to buy ISA?

smulx

I know that I'd be allowed to take advantage of a help to buy mortgage, but I'm not sure about the ISA. I thought it would be better asking here as I'm not sure if all banks have the same rules. Anyway, the complication is that about 10 years ago I bought a house with my then girlfriend and was too young to know any better. Everything went pear shaped pretty quickly which resulted in the house being repossessed and me ending up bankrupt. So technically I'm not a first time buyer. The help to buy ISA would be a big help to me at the moment though, but I'm not sure if I'd be allowed it. Anyone know for sure if this is the case?

Thanks.

jimjames

If you've ever owned property then you're not eligible so looks like the answer is no.

Steve_xx

" 10 years ago I bought a house" - "So technically I'm not a first time buyer"

So "technically" what type of a buyer do you think you are?

smulx

jimjames wrote: »

If you've ever owned property then you're not eligible so looks like the answer is no.

I thought so but just wanted to check. Thanks.

Steve_xx wrote: »

" 10 years ago I bought a house" - "So technically I'm not a first time buyer"

So "technically" what type of a buyer do you think you are?

The kind of buyer that isn't actually a first time buyer but is still eligible for some other schemes that are designed to help first time buyers. So my question wasn't as stupid as you seem to be implying.

Steve_xx

[QUOTE=smulx;69638589
The kind of buyer that isn't actually a first time buyer but is still eligible for some other schemes that are designed to help first time buyers. So my question wasn't as stupid as you seem to be implying.[/QUOTE]

I did not imply that your question was stupid. I asked you what, "technically" you regarded your own status to be. On the one hand you say you've bought a property with a friend some time ago. At that point you would have been a first time buyer. Now, you ask can you be eligible for this scheme when the scheme is explicitly aimed at first time buyers. I ask you again; do you actually think that you qualify as a first time buyer or are you actually a second time buyer at this point who wishes they were a first time buyer?

Your mention of "some other schemes" is not relevant to the rules governing this scheme and it's this scheme that you've asked the question about.

colsten

As you had (part) ownership of a property in the past, you are not eligible for the HTB ISA. Whether you should have known better when you bought into that property or not is really neither here nor there.

The declaration you would have to sign:

http://www.helptobuy.gov.uk/docs/default-source/default-document-library/help-to-buy-isa---eligibility-of-ftbs.pdf?sfvrsn=2

I hope you won't at some stage in the future post here that you didn't know better than making a false declaration to a bank, a solicitor and to the HMRC.

smulx

Steve_xx wrote: »

Your mention of "some other schemes" is not relevant to the rules governing this scheme and it's this scheme that you've asked the question about.

Jeez, that's why I'm asking. Why are you bothering to reply just be argumentative? My mention of "some other schemes" was because I'm eligible for those schemes and wasn't sure of the rules for this scheme. If I'm able to take advantage of other schemes that are aimed at first time buyers, is it really that weird to wonder if I'm also able to take advantage of this one!?

I read the terms of the Halifax scheme and they state explicitly that only first time buyers can apply. So I posted here to ask if that's always the case of if that specific term may be different or more relaxed with other providers of the scheme. Is that really that crazy? Was the question really worth a pointless debate about me apparently wishing I was a first time buyer. I don't think so.

colsten wrote: »

As you had (part) ownership of a property in the past, you are not eligible for the HTB ISA.

If you could have just left your reply at that, I'd be thanking you for your answer. This is all I wanted to know. A simple question for people that were familiar with the terms of the scheme. I had no idea how unreasonable of a question I was asking.

colsten wrote: »

The declaration you would have to sign:

http://www.helptobuy.gov.uk/docs/default-source/default-document-library/help-to-buy-isa---eligibility-of-ftbs.pdf?sfvrsn=2

I hope you won't at some stage in the future post here that you didn't know better than making a false declaration to a bank, a solicitor and to the HMRC.

No, I'm not going to make a false declaration to the bank. I have no idea what I said that made you think that was a possibility.

What a bloody carry on just for a simple question about the terms of the scheme.

Steve_xx

smulx wrote: »

Jeez, that's why I'm asking. Why are you bothering to reply just be argumentative? My mention of "some other schemes" was because I'm eligible for those schemes and wasn't sure of the rules for this scheme. If I'm able to take advantage of other schemes that are aimed at first time buyers, is it really that weird to wonder if I'm also able to take advantage of this one!?

I read the terms of the Halifax scheme and they state explicitly that only first time buyers can apply. So I posted here to ask if that's always the case of if that specific term may be different or more relaxed with other providers of the scheme. Is that really that crazy? Was the question really worth a pointless debate about me apparently wishing I was a first time buyer. I don't think so.



If you could have just left your reply at that, I'd be thanking you for your answer. This is all I wanted to know. A simple question for people that were familiar with the terms of the scheme. I had no idea how unreasonable of a question I was asking.



No, I'm not going to make a false declaration to the bank. I have no idea what I said that made you think that was a possibility.

What a bloody carry on just for a simple question about the terms of the scheme.

It strikes me that you are citing that I'm argumentative because the answer that I gave to your question does not suit your requirement.


The scheme is a government lead initiative. The rules of the scheme are that you are to be a first time buyer. Colsten posted a link to a clear government written directive on the scheme. Usually it is the case that government schemes are definitive and therefore not open to interpretation.


If you post on a public forum then you might expect that the responses that you get may well not suit what you want to hear. However, the nub of the matter is that you have been told the truth of the scheme, yet somehow you are seeking to skew it to suit your purpose.


And while we're at it, take note that it is you, in your posts on this thread, who mentioned the words "stupid", "crazy" and "unreasonable". Those who have responded to your posts here have refrained from the use of such terminology.

smulx

Steve_xx wrote: »

However, the nub of the matter is that you have been told the truth of the scheme, yet somehow you are seeking to skew it to suit your purpose.

It's statements like this that appear argumentative since it's complete fiction and I've in no way tried to do that. What I tried to do was ask a simple question. Literally the only thing I wanted to know was whether the scheme was strictly for first time buyers or if it may be possible for me to take advantage of it. I used the statement "technically I'm not a first time buyer" because I'm not a first time buyer but I am able to take advantage of other schemes that are aimed towards them. So I'd be participating in a first time buyer incentive despite not actually being one. Your replies asking things like "are you someone who wishes they were a first time buyer?" were beyond pointless given that I'd explained my reason for asking the question. But whatever, I don't even know why I'm adding more fuel to this.

Steve_xx

smulx wrote: »

It's statements like this that appear argumentative since it's complete fiction and I've in no way tried to do that. What I tried to do was ask a simple question. Literally the only thing I wanted to know was whether the scheme was strictly for first time buyers or if it may be possible for me to take advantage of it. I used the statement "technically I'm not a first time buyer" because I'm not a first time buyer but I am able to take advantage of other schemes that are aimed towards them. So I'd be participating in a first time buyer incentive despite not actually being one. Your replies asking things like "are you someone who wishes they were a first time buyer?" were beyond pointless given that I'd explained my reason for asking the question. But whatever, I don't even know why I'm adding more fuel to this.

Yes, on the face of it your question was simple. The answer to that question, believe it or not, is equally as simple. It is a resounding "no" you cannot take advantage of a scheme designed for first time buyers when in fact you are not a first time buyer.

You keep on mentioning "other schemes" that you are able to take advantage of, and so that may be. But here, your question is specifically about the Help to Buy ISA and it is to that question that the responses here relate.

Sam_J12

Why do people responding to a query have to be so aggressive and/or condescending? The OP asked a reasonable question and has behaved fine. Other posters have been rude - and it is quite common on this board :-(