Help to buy ISA and giving my husband money

Epona

I hope someone out there can advise....

I am a homeowner, hubby is not and never has been - he's not on my mortgage or title deeds. So I reckon he is eligible to get a help to buy ISA. (we are both over 40, so not considering a LISA).

Hubby doesn't have an income at the moment, but I reckon i have enough to pay into some savings for me, and 'give' him £200 a month to pay into the ISA, which will eventually go towards the house we are planning to buy together in a year or two's time.

Is this OK legally and would allow him to claim the government bonus (providing all other terms and conditions are met)?

I realise there is a risk of him running off with my money, and have considered that separately.

Any advice much appreciated! Thanks in advance.

eskbanker

Yes, there's nothing to stop you from giving money to your husband for him to put into a HTB ISA in his name, and ultimately, as he's never owned a property, he can use the HTB ISA, with bonus, to purchase one jointly with you.

Alexland

Sure to make it even easier just make the contribution from a joint current account. If my partner 'ran off' with a balance derived from £200 per month cash savings that would be a very cheap divorce settlement!