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Help to buy ISA(renting & Government benefit)
Muskman
Posts: 3 Newbie
Hello everyone,
My partner & I are interested in setting up a Help To Buy ISA each with the looks to helping boost our deposit money! Great stuff!
I have a couple of simple questions which after reading the GOVs 69 page PDF about it, I still can't find the answer!
Basically I was wondering if I used the scheme, moved in and say after 3 years & decided that I wanted to purchase a new house & rent the house the government helped me buy would I have to pay back the money the Government contributed?
After reading various sites & the PDF I can't get a clear answer! The only info I've found is a simple 'you can't rent out the house' but I'm not looking at a Buy To Let, I'm simply thinking of the future and hopefully avoiding having to pay back a lump of cash?!
And the other more cynical question is, what are the Government gaining from doing this? Is it that it's helping Economy Growth & drive up the prices of houses which probably benefits the current Government?
Thanks
Ben
My partner & I are interested in setting up a Help To Buy ISA each with the looks to helping boost our deposit money! Great stuff!
I have a couple of simple questions which after reading the GOVs 69 page PDF about it, I still can't find the answer!
Basically I was wondering if I used the scheme, moved in and say after 3 years & decided that I wanted to purchase a new house & rent the house the government helped me buy would I have to pay back the money the Government contributed?
After reading various sites & the PDF I can't get a clear answer! The only info I've found is a simple 'you can't rent out the house' but I'm not looking at a Buy To Let, I'm simply thinking of the future and hopefully avoiding having to pay back a lump of cash?!
And the other more cynical question is, what are the Government gaining from doing this? Is it that it's helping Economy Growth & drive up the prices of houses which probably benefits the current Government?
Thanks
Ben
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