Help to buy isa

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 509 views
DaveG2369DaveG2369 Forumite
2 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi
Hope someone can help. Is there a help to buy isa for someone in my circumstances.
Lifetime isa is no good as I'm 48 yrs .
Help to buy isa is no good either as the property price is 300k 🤔
Any suggestions
Thanks
Dave

Replies

  • masonicmasonic Forumite
    15.9K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    You can use a HTB ISA as part of your savings (assuming you will be a first time buyer, which you have not stated), but you won't be able to claim the bonus. Alongside current accounts and regular saver accounts, a HTB ISA can ensure you get the best rate on your savings.
  • margaretx9margaretx9 Forumite
    211 Posts
    100 Posts Second Anniversary
    ✭✭
    Buy a property in London where the threshold is £450k?

    If not then at least you should be eligible for the first time buyer stamp duty scheme.

    The lifetime isa is a bit ageist I agree - you might think the Government might also wish to assist people who are in their 40s and 50s to buy a home. Because it will save them a lot more in the long term than having to fund your rent in your 60s, 70s and 80s when you retire on a state pension!

    But there is not much long term thinking in government!
  • Hi Margaret
    Thank you for your reply . Unfortunately it's a bit complicated!
    It's not my first buy but it is for my partner. Was hoping to stay in Barnet North London but 450k is completely out of my reach. To stay close to my business being looking just outside where property is just above 290k...
    Totally agree on the ageist/government comment.
    Oh the dilemmas!
  • eskbankereskbanker Forumite
    18.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    DaveG2369 wrote: »
    Was hoping to stay in Barnet North London but 450k is completely out of my reach. To stay close to my business being looking just outside where property is just above 290k...
    Just to be clear, the £450K is the maximum value of a property that can be bought with a HTB ISA within London (including Barnet), so if you're buying at £290K you can use a HTB ISA if it's within the borough of Barnet but not if it's further out....
This discussion has been closed.
Latest MSE News and Guides

Students - apply for uni funding NOW

If you plan to get a place via 'clearing'

MSE News

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides