We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Right to buy/government 25% help
richer1984
Posts: 4 Newbie
I really hope you can help and see this question as I can’t find an answer anywhere.
I have a council house so I get the right to buy giving me 35% off my house. I was going to open an account so I can receive the 25% help for first time buyers but will I be able to claim both?
0
Comments
-
The Help to Buy Scheme and the Help to Buy ISA are no longer available.3
-
Yes they aresheramber said:The Help to Buy Scheme and the Help to Buy ISA are no longer available.0 -
richer1984 said:
Yes they aresheramber said:The Help to Buy Scheme and the Help to Buy ISA are no longer available.
Erm....3 -
Assuming that you mean the LISA, yes it can be used alongside an RTB purchase, as per the MSE guidance which says -richer1984 said:I really hope you can help and see this question as I can’t find an answer anywhere.I have a council house so I get the right to buy giving me 35% off my house. I was going to open an account so I can receive the 25% help for first time buyers but will I be able to claim both?
You can use the Lifetime ISA with other Government schemes including Right to Buy
The LISA gives you a 25% boost on the amount you have saved inside it which you can use towards the deposit.1 -
I think the OP was hoping they could buy their council house for 40%. I doubt the LISA will be of any use and going by a previous reply they made they couldn't afford to top up the LISA to gain any benefit from it.simon_or said:
Assuming that you mean the LISA, yes it can be used alongside an RTB purchase, as per the MSE guidance which says -richer1984 said:I really hope you can help and see this question as I can’t find an answer anywhere.I have a council house so I get the right to buy giving me 35% off my house. I was going to open an account so I can receive the 25% help for first time buyers but will I be able to claim both?
You can use the Lifetime ISA with other Government schemes including Right to Buy1 -
Have you got a link for them?richer1984 said:
Yes they aresheramber said:The Help to Buy Scheme and the Help to Buy ISA are no longer available.
The LISA only gives you 25% on what you have deposited and you can only deposit £4000 in a year so you need to get saving.0 -
I don't think 25% bonus on your £1 would help a huge amount, and LISA is up to £4000 per year (as someone else has said) so unless you already have a decent amount in there it will be a few years before you have enough bonus to make a massive difference I would think.richer1984 said:
No I wasn’t expecting 40% and I’m not sure why you seem to think I can’t top up an ISA, is it based on a certain amount? From watching Martin Lewis not long ago..he said open one and you can put as little as a £1 in. Also can benefit you children to help them get on the ladderTheJP said:
I think the OP was hoping they could buy their council house for 40%. I doubt the LISA will be of any use and going by a previous reply they made they couldn't afford to top up the LISA to gain any benefit from it.simon_or said:
Assuming that you mean the LISA, yes it can be used alongside an RTB purchase, as per the MSE guidance which says -richer1984 said:I really hope you can help and see this question as I can’t find an answer anywhere.I have a council house so I get the right to buy giving me 35% off my house. I was going to open an account so I can receive the 25% help for first time buyers but will I be able to claim both?
You can use the Lifetime ISA with other Government schemes including Right to Buy
But yes, you can use a LISA with Right to Buy.
The other schemes you talked about (Help to Buy) are closed.0 -
Please can we focus this thread on responses to help the OP?
This forum isn't the place to debate the rights and wrongs of the underlying Government policy.Official MSE Forum Team member.Please report all problem posts to forumteam@moneysavingexpert.com0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards