New Help To Buy Account And LISA

Ed-1

quinnj09 wrote: »

I dont have a spare £4000, so i just split that between 12 payments (12 months), whats the benefit for me getting the full £4000 in ASAP?

No real benefit in the first year as the bonus is paid at the end. Just there's no monthly restriction like with the H2B ISA. However in subsequent years when the bonus is paid monthly, getting the maximum bonus as early as possible will be of benefit as it will gain interest.

Eco_Miser

quinnj09 wrote: »

I dont have a spare £4000, so i just split that between 12 payments (12 months), whats the benefit for me getting the full £4000 in ASAP?

If the LISA pays more interest than where the money would otherwise be - otherwise open the LISA with say £10 to get the clock running, continue to pay into the HTB ISA and in March 2018, transfer to the LISA and add the rest of the £4000 2017/8 allowance. Or open LISA with £10 in April 2017, do the transfer and add £3990 in March/April 2018. Whichever will produce the most interest.

quinnj09

Eco_Miser wrote: »

If the LISA pays more interest than where the money would otherwise be - otherwise open the LISA with say £10 to get the clock running, continue to pay into the HTB ISA and in March 2018, transfer to the LISA and add the rest of the £4000 2017/8 allowance. Or open LISA with £10 in April 2017, do the transfer and add £3990 in March/April 2018. Whichever will produce the most interest.

Its all so confusing! but I think I get it, il need to wait and see what the interest rates are then

quinnj09

And can I use the lifetime isa with government help to buy equity loan if it's a new build?

quinnj09

quinnj09 wrote: »

And can I use the lifetime isa with government help to buy equity loan if it's a new build?

Im guessing no one knows the answer to this?