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Help to Buy ISA
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Karen_Artioli
Posts: 25 Forumite
I've just had an offer accepted to buy a property and I was wondering if it's worth opening a Help to Buy ISA for me and my partner and put 1200£ in each to get the 25% government help, with means we would get 300£ each, 600£ total. Is it ok to opening the account and withdrawing as we will buy a property straight away? Thanks
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Comments
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You need to make the minimum threshold for the bonus, and the bonus won't be paid until completion, so don't plan it into your deposit, but it should be available to assist with fees afterward. Can't remember if the minimum is £1600 or £1800 to qualify.0
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The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus.
Seems the minimum is £1,600.0 -
I've just found it: "The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus."
Is it possible to claim the bonus after completition and have it discounted of the mortgage? Thanks0 -
Karen_Artioli wrote: »I've just found it: "The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus."
Is it possible to claim the bonus after completition and have it discounted of the mortgage? Thanks
No. Its there to help you buy a house, not to cash in after youve already bought one.
Unless you want to wait 3 months, youve missed the boat.0
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