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Help to Buy Isa
Tracey_16
Posts: 1 Newbie
i opened a help to buy Isa 4 years ago and live in Medway, Im now looking to Buy Dartford way as this is where i now work but house prices are over the 250k (which didnt seem a problem 4 years ago) which makes my Isa bonus invalid, switching to a lifetime isa is an option but it has to be in there a year to get the bonus and i would like to buy now. Can anyone advise if there is another option?
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Comments
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You are correct the LISA needs to be open 12 months before it can be used for a penalty free qualifying property purchase up to £450k nationwide although you would only be able to transfer up to £4k per tax year into it. Sadly although Dartford is nearer London it's not within the ONS London boundary so the property price limit for claiming a HTB ISA bonus is still £250k. On the plus side the HTB ISA probably had an enhanced interest rate. I am not aware of any other options to get a government bonus on your purchase.
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