Is help to buy ISA worth it in the South east?

Jelly87

Hello, I'm currently looking into the help to buy ISAs available. The thing I'd like to know is, is it worth getting one as I live in the South East and would need a family home of at least 3 bedrooms which is in the range of £320k+ I know house prices could fall but doubt it would be under the £250k that is needed to get the government bonus of up to £3000. This is obviously beneficial living elsewhere in the country but it doesn't seem likely here? Any advice? Thanks

eskbanker

The Lifetime ISA scheme is more likely to suit as it has a property value limit of £450K nationally and a higher annual contribution cap, but does have to be held for a year before buying and is only available for under-40s.

Rich2808

I did a search for 3 bed houses in Kent on rightmove with a maximum price of £250k. I found over 2,300.

It's certainly possible but you won't get to live in the most glamorous locations. But the lifetime isa gives you more options.

Gordon_the_Moron

If you're under 40 and can afford to wait a year a LISA is much more likely to suit your needs.

If you can save enough have a LISA and H2BISA though. You can only claim the bonus on one but top H2BISA rates beat anything else instant access and there's no penalty for withdrawing from them.

aj23_2

A LISA is better, but if you have some money left over, 2.6% on Barclay's HTB ISA would be worth having too.