Halifax Help To Buy ISA rate dropping!

Super_Whiskey

Flobberchops wrote: »

Remember that all funds after the deposit must be as a standing order! Also beware of transferring across a small amount "just to check if it works" and then attempting to top it up to £1000, as some others have tried. Halifax give you one shot only at the initial deposit.

Just want to make people aware that neither of these statements are true. I deposit in to my Halifax HTB ISA via FP and when I set it up I initially deposited £1 "just to check if it works" and then did £1199 to make up the difference.

Westie983

Super_Whiskey wrote: »

Just want to make people aware that neither of these statements are true. I deposit in to my Halifax HTB ISA via FP and when I set it up I initially deposited £1 "just to check if it works" and then did £1199 to make up the difference.

This is because you can make two payments in the first month, normally this would be 1k deposit and then the £200 monthly payment. with the additional payments funded by SO.

The post above is correct, if you send £1 then decided to pay in the remainder of the 1k, you will sacrifice the £200 for that month.

Its a common issue with customers paying in over the counter when its first opened so I suggest the 1k in accumulated then sent over within the 31 day window of first payment,

Some others have has problems where they have paid in £500 gone to pay other £500 to make up to 1k, but its bounced back or returned over the counter as the maximum you can pay in is £200 a month and wont accept the 2nd £500...

MDMD

Website updated. Rate is 2.5%

http://www.halifax.co.uk/isas/cash-isas/help-to-buy-isa/

My online view still says 4% but I can't see any trace on the website of any different issues.

Westie983

MDMD wrote: »

Website updated. Rate is 2.5%

http://www.halifax.co.uk/isas/cash-isas/help-to-buy-isa/

My online view still says 4% but I can't see any trace on the website of any different issues.

If you have already opened the H2B ISA you will keep the 4% rate for now.

Its new applications which will get the advertised rate of 2.5%.

Pincher

I thought it was kinda odd not using a first year bonus rate.
Doing it this way just annoys people, who had their hopes dashed.

bowlhead99

Pincher wrote: »

Doing it this way just annoys people, who had their hopes dashed.

"Dashed" implies a pretty strong depth of feeling caused by a major impact - like a ship being carelessly dashed across the rocks by a cruel sea.

But the 4% always sat in the product summary box right next to the word "(variable)", so anyone pinning their hopes and dreams on it to make or break their home-owning plans - was probably not being realistic enough about how new product launches work (some would say 'cynical enough').

PeacefulWaters

Pincher wrote: »

I thought it was kinda odd not using a first year bonus rate.
Doing it this way just annoys people, who had their hopes dashed.

The underlying rate on an account with a bonus is variable.

Sometimes the bonus itself is variable.

dolphin19

Thanks for the heads up about this, one of my sons got in before the change of rate, unfortunately the other has missed the boat so I have told him to apply for a Santander one TONIGHT as I suspect their rate may follow suit.

Westie983

No doubt it will in line with the rest of the H2B accounts on the high street :-)

Futuristic

Good to see existing customers keeping the same rate for now, would have expected it to drop with the change.