Halifax Help to Buy ISA

fiona1368

I am trying to decide whether to move my Help to Buy ISA to the Halifax. Currently with Nationwide but they are dropping their interest rate to 1% and Halifax are offering 1.7%. The real question is whether the Halifax too are about yo drop their interest rate or if they have already done it. I don't  want to move only to find that Halifax then drop their rate to less to 1%. Can anyone tell me if the Halifax have recently dropped their interest rate to 1.7%  or if it's been this rate for a while, in which case I would be wary that they will drop it soon.

MDMD

https://static.halifax.co.uk/assets/pdf/savings/pdf/interest-rates.pdf

Took effect from 9 April

margaretx9

Nationwide of course is a split isa provider - so you can invest in more than one cash isa a year. With Halifax you can only invest in a help to buy isa - £2400 max a year - and no other cash isa.
That's one factor to take into account - as once you transfer out of NW there is no going back!
If all you are doing is a help to buy or lifetime isa or S&S isa to use up your £20k allowance fine.
Because the help to buy isa may be for years - you can keep paying in up to 2029. Whereas interest rates are temporary and can change at any time!
What is best in April 2020 - might not be in April 2025 or April 2029!
Not saying you shouldn't move - but the above is a factor to consider!

bredok

For Halifax, the issue is to move you have to call. Given the current situation, I think it's tricky to start the transfer process just because you'd struggle to get hold of a real agent to talk to! But let me know if you do get through