How Useful are Help to Buy/Lifetime ISAs if ...

Adamc

Hi all - apologies for any misconceptions here but:

How Useful are Help to Buy/Lifetime ISAs if I intend to buy within the next few months?

We have £40,000 saved in regular ISAs and unfortunately had overlooked these.

Many thanks

Beaneywatts

I don’t know much about lifetime isas, but with help to buy The max you can open them with is £1200, then you can pay in up to £200 per month and the minimum balance required for a bonus is £1600, so you would need at least 3 months to be able to claim any bonus at all, so I guess it depends how soon you’re looking to buy

Lolly88

The lifetime ISA is pointless if you're buying in the next few months. The Help to Buy ISA could be useful if used as outlined by Beaneywatts.

juniordoc

The process of buying can take months and months so definitely worth getting a HTB ISA as soon as you can.

lmartin87

Bear in mind HTB ISA only worthwhile if property you're buying is less than £250,000 outside of London or £450,000 in London. Anything above that and you don't get the bonus anyway.