Help to buy ISA question

Bradlad9

Hi everyone,


I want to sign up for a help to buy isa as I will hopefully be moving in Late 2017.


However, I opened a instant access isa with RBS last year, and put in £2,000 this year. Does that mean that I wont be able to sign up for a HtB ISA?
I'm guessing the balance of the instant access isa doesn't matter but it is currently 0


What are my options because if I wait until April, I will be missing out on £800 pounds worth of bonuses?

Bradlad9

Obviously I am answering my own question here and would like someone to double check,


But could I get the nationwide split, to transfer my instant access isa and open a help to buy isa, then in april in the new tax year, move to a higher paying interest help to buy isa? (Halifax)

colsten

Seems a plan.

Also consider moving money out of your normal cash ISA, e.g. into a Nationwide FlexDirect, and/or their FlexClusive Regular Saver, and/or other current accounts and Regular Savers. You are wasting interest if using a normal ISA.

Bradlad9

colsten wrote: »

Seems a plan.

Also consider moving money out of your normal cash ISA, e.g. into a Nationwide FlexDirect, and/or their FlexClusive Regular Saver, and/or other current accounts and Regular Savers. You are wasting interest if using a normal ISA.

Hi, I moved from rbs earlier this year, while keeping the account open. So there is absolutely no money in my isa. I have money in a tsb 5% current account and I am looking at the best way to save for a house in 2017, I hope this clears up where the money is a little?

PawelK

Bradlad9 wrote: »

Hi, I moved from rbs earlier this year, while keeping the account open. So there is absolutely no money in my isa. I have money in a tsb 5% current account and I am looking at the best way to save for a house in 2017, I hope this clears up where the money is a little?

If you havent made any contributions this year you might be able to close it down and open 4% htb with halifax. Then the remaining balance of £800 put elsewhere, e.g. Savngs account.

I did contribute to my cash isa this year already and just came back from nationwide where I submitted an application to transfer my existing cash isa to them and once its there, I will be able to open htb, hopefully still this month although just 2% rate.

jimjames

PawelK wrote: »

If you havent made any contributions this year you might be able to close it down and open 4% htb with halifax. Then the remaining balance of £800 put elsewhere, e.g. Savngs account.

I did contribute to my cash isa this year already and just came back from nationwide where I submitted an application to transfer my existing cash isa to them and once its there, I will be able to open htb, hopefully still this month although just 2% rate.

Any reason why you're not using Halifax and getting 4%?

PawelK

jimjames wrote: »

Any reason why you're not using Halifax and getting 4%?

Contributing to a cash isa this tax year made me ineligible. I would have to wait until the next tax year.