Help to buy ISA

Jd1980

Hi
My daughter wants to open a help to buy ISA

Should she put her full savings (£5k) in it now or "drip feed" it with £200 a month

Is there a limit to how much you can open one with ?

She's only 16 so there's no rush regarding buying a house with it

Any advice appreciated

Alexland

She can only add £1200 in the first month followed by £200 per month.
https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

At age 18 then she should consider starting a Lifetime ISA.
https://lifetimeisa.campaign.gov.uk/

Alex

1Foz

Yeah Lifetime ISA is great. You can deposit £4,000 per year but the great news is you get a 25% bonus. That's £1,000 free cash per year you max out the deposit limit. I also have a help to buy ISA alongside this, but I ONLY use it as my 'spare cash' place to put money in - I basically treat it like a normal cash ISA as I won't be using to get the government bonus (you can only use ONE of H2B or Lifetime ISA towards house purchase). Nationwide pays 2.5% on its H2B ISA. Think that's pretty much double the rate of any standard issue ISA going...so in that respect its handy for me just to have as a cheeky bit on the side

Best of luck!