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Help To Buy ISA
Dom_Fletch89
Posts: 24 Forumite
Evening all,
Currently have a HTB ISA and have just opened a lifetime ISA with Skipton Buidling Society. Myself and my partner are looking to utilise the Help To Buy Equity Loan in around 12months time. I was just wondering if you need to have a HTB ISA account open in order to apply for the loan or can the money come from any sort of savings account?
Just been doing some shopping around and can get slightly better interest rates with other savings accounts compared to the HTB ISA with higher monthly pay in amounts so thinking of just transferring money out from the HTB into my Lifetime ISA and then continuing to save in a separate savings account.
Thanks
Currently have a HTB ISA and have just opened a lifetime ISA with Skipton Buidling Society. Myself and my partner are looking to utilise the Help To Buy Equity Loan in around 12months time. I was just wondering if you need to have a HTB ISA account open in order to apply for the loan or can the money come from any sort of savings account?
Just been doing some shopping around and can get slightly better interest rates with other savings accounts compared to the HTB ISA with higher monthly pay in amounts so thinking of just transferring money out from the HTB into my Lifetime ISA and then continuing to save in a separate savings account.
Thanks
0
Comments
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You might want to try posting this on the ISA and tax free savings board 0
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No you don't.Dom_Fletch89 wrote: »Myself and my partner are looking to utilise the Help To Buy Equity Loan in around 12months time. I was just wondering if you need to have a HTB ISA account open in order to apply for the loan
The two things are totally unrelated apart from HMG's unfortunate tagging of anything to do with housing as 'Help To Buy.'I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »No you don't.
The two things are totally unrelated apart from HMG's unfortunate tagging of anything to do with housing as 'Help To Buy.'
Great, thanks so much for the reply. So I'd be OK moving my money out of my HTB ISA into a separate savings account and will still be able to apply for the equity loan when the time comes?0 -
Yes.
As stated, the source of deposit is irrelevant to Help To Buy - Equity Loan.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
You could, but you would be better off transferring it into your lifetime ISA (as then you will still get the bonus on the money).Dom_Fletch89 wrote: »Great, thanks so much for the reply. So I'd be OK moving my money out of my HTB ISA into a separate savings account and will still be able to apply for the equity loan when the time comes?0
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