Use help to buy or LISA for house purchase of £250k

Pkman

I have help to buy at £12k, LISA at £16k(£4k bonus already in my investment LISA)

which ISA should I use if my house purchase is under £250k?

If I use LISA, I 'lost' out on the £3k bonus for the h2b.

If I use H2b, I can only close my LISA when I'm 60. (28 years away)

Even if I use my LISA for my house, I will still open a new LISA for retirment, after all it is 25% of free money.

Any view, pro and con on both ISA????

grumiofoundation

Have you already found a house?
Assuming you have the remaining deposit money separate to either of these accounts? And also have enough money left over following purchase you are happy with if you do use HTB ISA?

If you won't complete before April you will be able to pay another 4k into LISA. But if you are planning to use a LISA to save for retirement* then seems to make sense to leave money in there and use HTB ISA for purchase.

*If you are a higher rate tax payer pension would be more tax efficient. 

Pkman said:

I have help to buy at £12k, LISA at £16k(£4k bonus already in my investment LISA)

I don't see how you have 16,000 but a 4k bonus ? Do you mean 20k including a 4k bonus?

Pkman

No I haven't found a house yet, I'm just 'thinking out loud'.

I have enough money for the deposit, but obviously my mortgage will be lower if I use both account (use LISA for house and withdraw money from h2b). But the thought of not 'using' the h2b bonus felt bit of a waste. 

I am not higher rate tax payer. I already got DB pension. Couple k in SS ISA for bit of fun ☺️

Yes £16k of my own money (20k total).

Alexland

If you can afford to buy the property using the HTB ISA without using the LISA that would give you the maximum bonus. However you would need to consider if the lower deposit would cause you to pay a higher rate of interest on the mortgage loan.