Maximising Help to Buy ISA

carly300493

My boyfriend and I are both looking at opening help to buy ISAs to put towards buying our first house together. He already has around £3000 in savings and saves £300 pm I am just about to finish my degree and so don't have any savings yet but will be ready to start saving in a few months.


Would be both be able to open a help to buy ISA and for the first few months my boyfriend transfer me money to put into mine so we are still getting the most out of our allowances?


Thanks

Eco_Miser

Why not? .

hd216

This is more or less the same route that me and my other half are taking.

My other half hasn't got enough in savings to open the account with the initial £1200 as she is currently paying back the last of her overdraft and by the time this is paid off and accrued the £1200 it will be some 4 or so months into the scheme.

I've currently got savings sat in various current accounts earning the maximum interest they can, however this doesn't come close to the potential earnings through the help to buy ISA.

I've lent her the £1200 initial payment for her to open one herself and she'll then cover the monthly payments and pay me back over several months.

Ashers92

Doing exactly the same with my girlfriend.

She can save very little, so I'm saving my £200, then her £200. Then the rest elsewhere.
One day she'll repay me if she can. If not, then the bonus received from the government will be very nice to have anyways when it comes to buying a house.

bowlhead99

In all the examples above, the potential £6k of free money from the government is a great deal if you stay together and buy a property together.

If you don't, the arrangement is a great deal for the girlfriends