Help to buy isa

Angel45

Hi, I have never had a mortgage or had my name included on one, the mortgage on our family home was only in my husband's name. We've separated and sold that house. Would I be able to open the help to buy isa and claim the bonus in the future? Thanks.

masonic

The family home is considered a marital asset, so you would have had a legal interest in it whether or not you were on the mortgage. Had you not been married, the situation would be different. Were you listed on the title deed? How were the proceeds of the sale divided between you? Presumably you are still married?

Angel45

Hi, thanks for your reply. I think that's answered my question. We are no longer married and the proceeds were split between us, and no my name wasn't ever on the deeds.

ADJ7

Hi,
I've been divorced now for nearly 6 years and been renting for that period, I'm looking to buy my first home in my own, cause I previously bought one with me ex wife in the past, will thus scheme apply for me?

Thanks

Andrew

eskbanker

ADJ7 wrote: »

I've been divorced now for nearly 6 years and been renting for that period, I'm looking to buy my first home in my own, cause I previously bought one with me ex wife in the past, will thus scheme apply for me?

If you've owned a property (or a stake in one) before then you're no longer a first time buyer and are thus ineligible for first time buyer schemes like this - if you marry again that wouldn't count as first time either

masonic

eskbanker wrote: »

if you marry again that wouldn't count as first time either

Though if he manages to snag a FTB wife, he could benefit from the scheme by proxy.

Rich2808

I do think its a bit unfair that the Government isn't doing more to help former owners such as the above who through a change in circumstances such as a job loss or divorce no longer own and are renting.

Presumably the government would rather pay housing benefit for them to rent for up to 30 years in retirement than provide a small incentive now to help them buy thus saving the taxpayer far more in the longer term? Its very short sighted!

masonic

It's not exactly a well kept secret that the ultimate beneficiaries of the HTB ISA scheme are existing homeowners and house builders, not FTB.

Rich2808

masonic wrote: »

It's not exactly a well kept secret that the ultimate beneficiaries of the HTB ISA scheme are existing homeowners and house builders, not FTB.

I know but we can at least pretend!

Osborne and Cameron literally made millions for their families via the inheritance tax changes and schemes to boost house prices while they introduced while they were in office - but people would rather focus on and get outraged about MPs small expenses claims for duckhouses or plasma tvs!

And lets not get into the bonuses - in some cases running into tens of millions - being paid to the directors of the major housebuilders. Imagine what bonuses other private sector firms could offer to their top bosses if the government decided to provide 40% interest free loans to buy their products - which we might assume might soon go up in price by up to 40% as a result (a bit like new builds in London since 2013!).

But lets get back to the help to buy isa - and helping people take advantage of it to get a £3k bonus.