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Help to buy ISA
Kazza1002
Posts: 17 Forumite
Hi my daughter has a help to buy ISA she is a first time buyer. She & her partner will be buying a property this year. Her partner owns a flat. They will be buying a property around £360 000. Will my daughter be able to receive the First Time Buyer bonus on completion due to the fact that the property is over £250 000 but joint owned so technically her half is worrh £180,000. Would my dsughter qualify to receive the FTB bonus on her Help To Buy ISA.
Many thanks for your help. Karen.
Many thanks for your help. Karen.
0
Comments
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No she won’t be eligible for the HTB bonus The house price cap applies to the sale price of the whole property.
https://www.helptobuy.gov.uk/help-to-buy-isa/faq/#joint-ownership
Although you mention buying this year have they looked at a LISA which has a cap of 450000. Account has to be open for 12 months before using so may not be possible but can be opened with just £1, and then no downsides if property purchased before 12 month deadline.0 -
decanter2020 wrote: »One thing I would add, it's only up to £400k inside London and £250k outside London. Going by your location. So you might struggle to qualify if you are after a decent size house.
Limits are:
Help to buy isa: 250k outside and 450k inside London
Lifetime: 450k everywhere0 -
Thank you both very much for your help.
Happy new year all.0
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