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Does the bonus from Help to Buy ISA take the interest into account?
zzzt
Posts: 407 Forumite
I think my solicitor may have made a mistake. The amount they have deducted from my bill lists the Help to Buy Bonus as an irregular number, which they got from taking my final ISA balance and dividing it by four. But that includes the interest the ISA earned.
I'm pretty sure the government only gives 25% bonus on what I put into the account, not on the interest it earned as well.
Am I right?
I'm pretty sure the government only gives 25% bonus on what I put into the account, not on the interest it earned as well.
Am I right?
0
Comments
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where would you like the extra, lets call it 4% interest to go?:www: Saving for first house - £67,000/£50K :www: :cool: smashed it!
:starmod: Save 12k in 2016 - No#129 - £0/£6000 :starmod: too greedy with house pot...0 -
Yes, it takes into account interest accrued.0
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Monty, you terrible ****0
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lol_omg_!!!!!! wrote: »where would you like the extra, lets call it 4% interest to go?
What do you mean, where does it "go"?MontyMonty wrote: »Yes, it takes into account interest accrued.
Anyone with more than one post have an opinion or source for this?Monty, you terrible ****
What makes you say that?0 -
From the government website:Will my interest count towards my government bonus?
Yes. Your government bonus will be calculated based on the amount of money you have in your account when you close it. This includes both the money you have saved, and any interest you have earned on that money. You will not receive a government bonus of more than £3000.
Full FAQ hereThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
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I have just closed my help to buy ISA with Halifax , opend on the day they started and I have put the maximum I could and closed the account the same day my July payment went in and recieved £41.86 interest, so the odd number could only be £10.46 if the interest is taken into account in the 25% bonus.0
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