Help to Buy £12k limit - inc interest?

bugfriendlygardener

Does the 12k savings limit include interest earned so far or can you SAVE £12k?

masonic

You can only get a bonus on the first £12k of the closing balance of your HTB ISA. There is no limit on how much you can save beyond the £200 monthly limit.

MovingForwards

Save £12k
When you get to the £12k you can keep saving in it, you just don't get any more bonus than at £12k as that's capped.

bugfriendlygardener

Just found a gov.uk link. The interest earned so far does count. However, you're right, you can keep saving which seems good as the Halifax is still paying 2.25%

george4064

bugfriendlygardener wrote: »

Just found a gov.uk link. The interest earned so far does count. However, you're right, you can keep saving which seems good as the Halifax is still paying 2.25%

The '£12k limit' you refer to is around the maximum bonus of 25% from the government is £3,000 which would mean that you would need a balance of £12,000 to achieve that maximum bonus.

However (as others have rightly pointed out), there is nothing stopping you continue to save beyond the £12,000 balance however you won't receive any additional 25% govt bonus beyond that point only more £ interest as your balance increases.