Help to buy isa and Lifetime isa

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
1 reply 1K views
raymondlau783raymondlau783 Forumite
1 Post
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi Everyone,

First post. Just got a question regarding isa accounts.

This year I've opened a help to buy isa and next year April 2017 I plan to open a Lifetime time isa as well. Will it be possible for me to deposit into both accounts or will i be limited to just one?

Replies

  • xylophonexylophone Forumite
    38.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    http://www.thisismoney.co.uk/money/mortgageshome/article-
    This year I've opened a help to buy isa and next year April 2017 I plan to open a Lifetime time isa as well. Will it be possible for me to deposit into both accounts or will i be limited to just one?


    3496880/Lifetime-Isa-versus-Help-Buy-Isa-best-time-buyers.html

    "While you'll have to wait until 2017 for the launch of the Lifetime Isa, it will be possible to hold both a Lifetime Isa and a Help to Buy Isa at the same time.
    And during the 2017/18 tax year, those who already have a Help to Buy Isa will be able to transfer their existing savings into the Lifetime Isa and at the end of the tax year they will get the Government Help to Buy bonus - the same time as they receive their Lifetime Isa bonus, according to the Treasury."

    http://www.moneysavingexpert.com/savings/help-to-buy-ISA

    "You can have both Help to Buy ISA and a Lifetime ISA
    However you can only use the bonus from one of them towards buying a house.
    Use the LISA for the 25% bonus to buy a home, you won't get the bonus with the Help to Buy ISA, but you can still keep the money plus the interest (and use it towards buying your home)."
This discussion has been closed.
Latest MSE News and Guides

Students - apply for uni funding NOW

If you plan to get a place via 'clearing'

MSE News

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides