Help to Buy ISA (Calendar Month Question)

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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guyb1guyb1 Forumite
8 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi all,

Really quick question - I currently have a Halifax H2B ISA with a DD depositing £200 per month into it on the 5th of every month - Having some minor cash flow issues and was wondering if it would be OK to next month put it back to say the 29th July and then in August revert it back so the deposit is on the 1st?

Just want to check that I'll still get my full 25% bonus for both July and August this way?

Many thanks!

Replies

  • Ed-1Ed-1 Forumite
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    guyb1 wrote: »
    Hi all,

    Really quick question - I currently have a Halifax H2B ISA with a DD depositing £200 per month into it on the 5th of every month - Having some minor cash flow issues and was wondering if it would be OK to next month put it back to say the 29th July and then in August revert it back so the deposit is on the 1st?

    Just want to check that I'll still get my full 25% bonus for both July and August this way?

    Many thanks!

    You'll get the 25% bonus on anything in the account when you get a mortgage. You can deposit up to £200 into the account each calendar month by standing order (not direct debit) at anytime in the calendar month so yes you can do what you want. Halifax T&Cs state that the deposit has to be made by 25th - to be safe you may want to amend the standing order to this date (Halifax do this to avoid weekends moving back the standing order to the next calendar month; e.g. if you moved the standing order to go out on 30th July it wouldn't go out until 1st August as 30th/31st July is a weekend and so you'd miss the July deposit opportunity). However as long as it goes into the account within the calendar month it is fine.
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