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Help to buy ISA questions
georgedent10
Posts: 1 Newbie
I have a few questions regarding help to buy ISA's.
if I have already owned a house before but my partner hasn't (she has a help to buy isa in her name) are we still allowed to use it and recieve the bonus despite me having a house previously?
Also, if we earn over a certain amount does that affect any bonus we can receive? or does it affect the cost of the house we can buy.
much appreciated
if I have already owned a house before but my partner hasn't (she has a help to buy isa in her name) are we still allowed to use it and recieve the bonus despite me having a house previously?
Also, if we earn over a certain amount does that affect any bonus we can receive? or does it affect the cost of the house we can buy.
much appreciated
0
Comments
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Yes your partner can still use help to buy ISA bonus if property is eligible (e.g. less than 250k outside London, bought with a mortgage) even if buying with you (a previous home owner).
She won’t be eligible for FTB stamp duty relief.
The amount you earn is not relevant but the house price certainly is
The limits are
250k outside London
450k in London
if more than that cannot get a HTB ISA bonus towards purchase.If the 250k limit is an issue the alternative is a lifetime ISA. With this the limit if 450k everywhere. But this has to be open for 12 months before it can be used.0 -
If they already have money in the HTB there is a limit how much can be moved across in a year as well I think?If the 250k limit is an issue the alternative is a lifetime ISA. With this the limit if 450k everywhere. But this has to be open for 12 months before it can be used.0 -
Yep, the limit that one can pay into lifetime isa is 4000 per tax year (not calendar year). (Whether is coming from HTB ISA or other sources).Hedgepigs said:
If they already have money in the HTB there is a limit how much can be moved across in a year as well I think?If the 250k limit is an issue the alternative is a lifetime ISA. With this the limit if 450k everywhere. But this has to be open for 12 months before it can be used.0
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