help to buy isa parent set up

syngeschair

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We've a fully researched Help to buy ISA guide you may find helpful.

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apologies if this is within someone's thread, i have missed it.
we have two daughters aged 22 and 19 and we wanted to pay directly into help to buy isa for them. know they need to open account, can we pay in directly? are we gifting them this money?
or do we set up standing order to them and trust them to pay into account? i do by the way
thanks in advance

Archi_Bald

You can probably do it either way. Check the T&Cs of the ISAs.

JamesCC

I cant say for others, but with Halifax it needs to come from an account with the same name as ISA holder. E.g you will have to set up standing order TO their current account and they then set up a standing order TO their HTB ISA. I would also make the dates a few days apart

jatinmistry_uk

Hi,

Apologises as I am not trying to take over your post but in similar situation. I currenlty live with my mum and saving up for the deposit for the first house. I have already opened HTB ISA for myself.

My mum is registered disabled and not been able to work. As we will be moving together to new house that I buy, could she open another HTB ISA now in her name to maximise the benefit of this scheme? As she has not got any disposible income, I will be tying to save extra using her allowance as and when I can on top of my £200. Do I/we need to declare this or tell anyone?

Should this be a problem? The house that I will be buying can be in our both names if needs to be.

Thank you in advance.

colsten

Anyone who is a first time buyer, UK resident and over 16 can open an HTB ISA. One of the conditions for getting the bonus is that the name of the person must be on the mortgage.

jatinmistry_uk

colsten wrote: »

Anyone who is a first time buyer, UK resident and over 16 can open an HTB ISA. One of the conditions for getting the bonus is that the name of the person must be on the mortgage.

I am not sure what is the maximum age for mortgage. My mother is 62. Would we be able to apply for 25 year mortgage?