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First Time Buyers ISA
RobbieD1506
Posts: 42 Forumite
Hello.
My partner & I have had first time buyer's ISAs since last march when we opened them. We have now reserved a new build which is over the £250k threshold (we negotiated o other terms so we wouldn't be out of pocket). We obviously now need to close them as they are worthless & we will need that money for our overall deposit. Just wondered if we still get the standard interest? Or do we just close the accounts now?
My partner & I have had first time buyer's ISAs since last march when we opened them. We have now reserved a new build which is over the £250k threshold (we negotiated o other terms so we wouldn't be out of pocket). We obviously now need to close them as they are worthless & we will need that money for our overall deposit. Just wondered if we still get the standard interest? Or do we just close the accounts now?
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Comments
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Yes, you'll get pro rata interest right up to the date of account closure, unless there are any quirky Ts & Cs that negate this, so keep them open as late as you can unless there's anywhere you'd get better interest on that money....0
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The standard interest rate is likely to be higher than you'll get in other savings accounts.0
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So am I able to keep the ISA open even after I've completed on the house sale in order to get the best interest rate going? Will it show up that I'm now a homeowner therefore rendering it useless?0
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