Savings of £10000.00

ShaunW50

Is the HTB ISA worth it though. Do you recommend it?

Alexland

Do I recommend getting at least £550 free from the government and possibly an extra £50 per month if your property purchase is delayed??

I'm not qualified to give advice but there's really very little downside. The only downside I can think of is that your solicitor might charge a bit extra (it's capped at £50) to process multiple funding sources - but even if they do you are still at least £500 up. The property you are buying would need to be within the price limits.

Even if you don't buy a property with it you can withdraw the money without the bonus at any time and you will have had a better rate of interest, not that it matters to you.

Zoea

lol the state of UK financial services. The thread

sorry for spam.

ShaunW50

Okay.

This is my plan. I will open the HTB ISA from Halifax, put £1000 in then £200 per month. Come July next year when I will be putting it towards a house deposit, I would of earn about £500 from the government.

As I can only put £200 a month into that ISA, I will move the rest I have into a basic Everyday Saver from Halifax, and transfer £200 from that to the ISA every month.

We these two accounts it does the following

1) Remove the money from my everyday purchases current account, so I wont be touching it. This is what I wanted

2) I will earn around £550 come July with that HTB ISA.

I think this is a good plan, and going to go with it. Thanks for the help everybody :j

Alexland

Glad to be of help. Just check you are likely to be buying a property within the price limits and going to be using a registered conveyancer (or solicitor)

https://www.halifax.co.uk/savings/help-guidance/saving-explained/7-things-you-need-to-know-about-a-help-to-buy-isa/

Alex

Eco_Miser

ShaunW50 wrote: »

I will open the HTB ISA from Halifax, put £1000 in then £200 per month.

Don't forget that the first of the £200s should go in this month, as well as the initial £1000.