Can’t use my help to buy isa as house is over the 250,000 limit but can I still keep the isa on

delideli

I am a first time buyer but my partner isn’t, and as he has enquiry in his house, means the house we would like to buy is more than the help to buy allows.
Therefore if we buy the house together I won’t be able to use my help to buy isa to get the full £3000 government bonus(as yes I have more than the 12000 max), so my question is as Wouldnt be able to use it to the house purchase, but will then be a homeowner can I still keep the help to buy running on as a savings account instead?? Or do I have to remove it as a lump sum and close the account as I would then own property. 
Ive tried to find the answer with great difficulty, but I am presuming I have to do the later even though it hasn’t been of any use to me if I haven’t been able to use it to buying my first home.
Any replies from whom know the answer would be greatly appreciated. I tried to phone the bank but they aren’t answering the phone....

The 250000 and 450000 in London hasn’t gone up to my knowledge since help to buy isa opened, yet house prices have so its proved to be ridiculous and pointless.
So come on Martin that is something you could be campaign for. The new lifetimes isas allows 450,000 anywhere, so the help to buy should be brought up to a more realistic price for a house today. The house price have gone up everywhere, particularly where I live, where house prices are higher due to being in a national park and even outside it.
The Lastest stamp duty situation has just increased house prices more as more buying are trying to buy..thinking the stamp duty holiday is a bonus.

Thanks in anticipation

grumiofoundation

I believe you have to close the HTB isa as you need to be a first time buyer to have the account, which you won’t be once you have purchased.

Regarding the HTB ISA limit - the lifetime ISA removed this issue and when first bought in you could transfer all money saved in HTB ISA across (was explained on MSE site). 

You are able to buy without needing the HTB ISA bonus - so I wouldn’t worry too much about missing out on this. 

Alexland

Yes once you own property you would not be eligible to hold the HTB ISA so should either close it or transfer it to a different type of ISA.
I doubt that the government will bother reviewing the HTB ISA property price limit as they provided a transition arrangement to the replacement LISA a few tax years ago.

Alexland

Yes once you own property you would not be eligible to hold the HTB ISA so should either close it or transfer it to a different type of ISA.
I doubt that the government will bother reviewing the HTB ISA property price limit as they provided a transition arrangement to the replacement LISA a few tax years ago.

delideli

Thanks,appreciated, as I thought but glad to hear it confirmed so will have to look for other investment.
Regarding the 250,000 amount I didn’t think I would be looking at a house over the 250000 to be fair at the time, but after watching martin on both help to buy and Lisas on numerous programmes he seemed to think help to buy were a better option at the time, which i agreed with for my scenario. I still think for people who still have them as i believe they are open until 2030 they should still go up with house price rises and they haven’t for people preferring them to keep them.