Help to Buy and stocks and stocks and shares ISA

30walcott

Can someone explain to me how I can combine a help to buy and stocks and shares ISA?

I currently have a help to buy ISA (opened last financial year) but obviously the amount I can contribute to this is limited to 200/month and I'd like to save/invest more.

My understanding is that the help to buy ISA is treated as a cash ISA and therefore there are products which allow you to incorporate a help to buy and stocks and shares in one? Is this right? If so would I be able to open this combined ISA this year if I closed my current help to buy?

Thanks

eskbanker

30walcott wrote: »

My understanding is that the help to buy ISA is treated as a cash ISA and therefore there are products which allow you to incorporate a help to buy and stocks and shares in one? Is this right?

No, if you want a HTB (cash) ISA and a S&S ISA, you can, but they're different products that can't be combined into one.

Perhaps you're confused by the Lifetime ISA, which can hold stocks and shares and be used towards a first-time property purchase?

Anyway, keep paying into your HTB and if you feel that investment is appropriate (unlikely if you're intending to use the proceeds for a property purchase within the next few years) then open a separate S&S ISA....

30walcott

My point was that I want to save more than the help to buy allows me so I want to invest as well.

So you're allowed to have a cash ISA and a stocks and shares ISA?

Sean473

30walcott wrote: »

My point was that I want to save more than the help to buy allows me so I want to invest as well.

So you're allowed to have a cash ISA and a stocks and shares ISA?

Yes...........

AnotherJoe

30walcott wrote: »

My point was that I want to save more than the help to buy allows me so I want to invest as well.

That doesn't follow at all.

Saving and investing are two different things. If you want to save (for a house it appears?) then DO NOT INVEST, SAVE. You can save in high rate savings accounts, current accounts etc.

Makkusu

Depends what type of investing you want to do, I made about £3000 on £20,000 within a year which helped. It was very active trading however and you need to know what you're doing.

Sounds like a LISA + some form of saving/investment is what you're after.

30walcott

How does it not make sense? I want to invest small amounts in stocks and shares as a long term saving strategy

eskbanker

30walcott wrote: »

How does it not make sense? I want to invest small amounts in stocks and shares as a long term saving strategy

....which is a logical reason to both save and invest.

AnotherJoe was simply pointing out that "I want to save more than the help to buy allows me so I want to invest as well" isn't a logical analysis based on the information posted at that time, compounded by your view that there was one product that covered both of your requirements and your reference to 'save/invest', which often signifies a lack of understanding of the key differences.

However, if you're looking to buy a property and, as a separate exercise, looking at long-term investment, then best to regard these as two different requirements (with two different solutions), hence my recommendation in post #2.