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What happens if I inherit property after opening a help to buy ISA?
badlydunegg
Posts: 2 Newbie
If I open a HTB ISA today there is a significant chance that before I have saved enough for a deposit I will have inherited a flat from my Grandmother's Estate. The Estate will be shared with one other party. Where would I stand in these circumstances? Thanks for reading.
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Comments
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You must be a first time buyer in order to be eligible for the bonus. You won't be classed as one if you own, or part-own a property.0
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Reading that, it looks doubtful. Looks like you would be able to get the 4% interest from Halifax (assuming that's who you were looking at), but your conveyancer wouldn't be able to apply for the HTB bonus when you come to buy.
Maybe you could ask the Trustee to substitute cash instead of an interest in the property when the time comes (sell it on your behalf before disbursing the inheritance?)? Although that would probably be using a sledgehammer to crack a nut.0
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