We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help to Buy ISA but can't afford to buy anywhere for a long time, worth it?
nordicsam
Posts: 18 Forumite
I don't have a job but I have £5k in the bank. I could open a Help to Buy ISA and slowly move the money from my bank account into the ISA. I'm not going to be in any position to buy somewhere for a long time (5-10 years), is it worth opening a Help to Buy ISA? Will the scheme even be around in 10 years?
0
Comments
-
Worth opening one unless your money will be working better for you where it is at the moment, but at 4% annual interest (with Halifax) plus the 25% final bonus that's quite hard to beat. Obviously nothing is ever cast in stone but this is anticipated to be a long-term offering, available to new subscribers until 2019 and with bonuses needing to be claimed by 2030 - apart from anything else it takes about 4.5 years from starting one to build up enough of a pot to qualify for the maximum bonus!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards