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Virgin Help To Buy ISA Question
Jerry_Cornelius
Posts: 104 Forumite
Hi, so I have a Virgin Money Help To Busy ISA and wanted to ask a question. Basically, i've been paying into it for a number of years (the maximum £200 per month) and am well past the maximum amount (£12000) that the Government will give 25% on when you complete a house sale (I'm £16000+ now). I hope to buy my first home in a number of months, but I was wondering in the mean time if I can transfer a portion of the savings into a different savings account I've just opened, which has a much higher rate of interest (I stopped paying into the ISA last month and am now paying it into the savings account), and leave the £12000 in the ISA. Will this jeopardise the use of the ISA in the home buying process and negate the government bonus if i take money out?
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Comments
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Yes you can and no it won't....Jerry_Cornelius said:Hi, so I have a Virgin Money Help To Busy ISA and wanted to ask a question. Basically, i've been paying into it for a number of years (the maximum £200 per month) and am well past the maximum amount (£12000) that the Government will give 25% on when you complete a house sale (I'm £16000+ now). I hope to buy my first home in a number of months, but I was wondering in the mean time if I can transfer a portion of the savings into a different savings account I've just opened, which has a much higher rate of interest (I stopped paying into the ISA last month and am now paying it into the savings account), and leave the £12000 in the ISA. Will this jeopardise the use of the ISA in the home buying process and negate the government bonus if i take money out?1 -
Thanks muchly, I did originally look online but couldnt seem to find a definitive answer - cheers!0
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My first port of call waould have been Virgin.They are very helpful on the phone, Helped me open a new isa within the 14 cooling off period.To get 5.5% insted of the 5.2% from 13 days ago.0
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