Help to buy

Clouds88

Hello guys so I am going to open a help to buy ISA when I’m discharged in May with the idea to save for the 6 years and then buy a house when my bankruptcy is off the files.(If you can even have one that long?!) Also I am doing this by saving on our current groceries, not buying many clothes ect

I am wondering, my husbands dad is keen to help us, and he wondered if he could put a small amount each month in the same thing for his son without it affecting his DRO (he won’t be discharged until jan 2020) or would it be better for him to do this in his own savings account and then just move the money across before next April as that would be pre tax year so we could still take advantage of the bonus for that year?

Sorry if this isn’t the right place to post x

evenasus

An ISA is an Individual Savings Account. No-one can put money in someone else's ISA.
But you can give money to someon else. What they do with it is then up to them.

debt_doctor

Hi,

You can accumulate up to £1000 in total assets (plus a car separately) without issue in a DRO. But if you were to come in to some other money in addition then this might cause problems.

It is safer that dad keeps the money himself then transfers it after the moratorium 1 year DRO period has been completed.

DD