Quick HTB ISA question

bhindi

We are now in the position to take out our second ISA for a house

(We purchased a LISA around April 17)

If we now take out a Help to buy ISA (I understand there will be no bonus allowed).......... but if we draw the money out in 6 months time does the money still have gained the interest?

Thanks.

masonic

Yes, interest is calculated daily and any accrued interest will be paid on closure of the HTB ISA.

Edit: To double check, you are aware if both of you are first time buyers and you only have one LISA and one HTB ISA between you, then if you each have one account, one of you can claim the bonus on the HTB ISA and the other can make a penalty free withdrawal from the LISA.

bhindi

masonic wrote: »

Edit: To double check, you are aware if both of you are first time buyers and you only have one LISA and one HTB ISA between you, then if you each have one account, one of you can claim the bonus on the HTB ISA and the other can make a penalty free withdrawal from the LISA.

I'm acting on behalf of step son, he will buy the house alone, so both Isa's are in his name. (sorry to mislead)

eskbanker

bhindi wrote: »

We purchased a LISA around April 17

As the only LISAs available at launch in April 2017 were S&S ones, entailing some investment risk, has he looked at transferring it into a cash LISA, now that there are multiple choices on that front, all of which offer capital protection, as we potentially approach some choppy economic waters?

bhindi

You panicked me then... just checked .. We opened the account with Skipton late May 18 ..... lol... sorry... major difference... I don't know why I put 2017.. I believe it is an online cash LISA.