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Help top Buy confusion in Scotland
gonsdad
Posts: 33 Forumite
Hi all
Opened up a Help to Buy ISA with Santander today. In terms of how I can actually use it, I was told 2 different things by 2 different Santander employees, plus another one by Google search. See below...
- A Help to Buy ISA can't be used to pay for a deposit at all
- Both the original contribution and 25% bonus of a Help to Buy ISA can be used to pay for a deposit in Scotland, as it is paid out on completion not exchange.
- A Help to Buy ISA can be used to pay a deposit, but only your original contribution and not the 25% bonus
I'm looking to buy a flat in Scotland so if anyone with experience of this can shed some light it would be much appreciated!
Cheers
Opened up a Help to Buy ISA with Santander today. In terms of how I can actually use it, I was told 2 different things by 2 different Santander employees, plus another one by Google search. See below...
- A Help to Buy ISA can't be used to pay for a deposit at all
- Both the original contribution and 25% bonus of a Help to Buy ISA can be used to pay for a deposit in Scotland, as it is paid out on completion not exchange.
- A Help to Buy ISA can be used to pay a deposit, but only your original contribution and not the 25% bonus
I'm looking to buy a flat in Scotland so if anyone with experience of this can shed some light it would be much appreciated!
Cheers
0
Comments
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Hi all
Opened up a Help to Buy ISA with Santander today. In terms of how I can actually use it, I was told 2 different things by 2 different Santander employees, plus another one by Google search. See below...
- A Help to Buy ISA can't be used to pay for a deposit at all
- Both the original contribution and 25% bonus of a Help to Buy ISA can be used to pay for a deposit in Scotland, as it is paid out on completion not exchange.
- A Help to Buy ISA can be used to pay a deposit, but only your original contribution and not the 25% bonus
I'm looking to buy a flat in Scotland so if anyone with experience of this can shed some light it would be much appreciated!
Cheers
the mygov.scot site
[STRIKE]https://www.mygov.scot/help-to-buy/[/STRIKE]
Money advice service
[STRIKE]https://www.moneyadviceservice.org.uk/en/articles/right-to-buy-scotland[/STRIKE]0 -
Thanks but those links refer to a different scheme. This is a help to buy ISA being done through Santander and not specific to new builds.0
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