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Help to Buy ISA for renovation and sale

CJ728
CJ728 Posts: 1 Newbie
in House buying, renting & selling
Can you use a Help To Buy ISA to buy a house to renovate and sell? With no intention to live it the property myself.

Also would I be able to get a mortgage for a house that I don’t intend to live in? With intention to renovate and sell.

Thanks

Comments

  • tlc678910
    tlc678910 Posts: 983 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    No - only fraudulently as the terms of a residential mortgage will require you to live there. The help to buy ISA will also require you to be buying a home (a home for you to live in) to claim the bonus.

    If you buy in order to renovate and sell, and the house is not your home, you will be expected to pay income tax on any profit you make.

    Is there a reason you can't live in the house? Then you could get a residential mortgage, use the ISA and will be exempt from the tax.

    Tlc
  • george4064
    george4064 Posts: 2,934 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Short answer - No.
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
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