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Partially withdrawing Help to Buy

Lucyfr
Posts: 19 Forumite


Hey fellow money nerds!
Hope you're doing well today

I have £17,000 in an old Help to Buy ISA. I'm presuming I'm OK to withdraw £5,000 into my bank account, leaving the £12,000 maximum for the government bonus without causing any issues? I know a solicitor has to be the one to handle the £12,000 when a mortgage is applied for but but presuming I can faff with the rest of it myself...
I called Halifax but they didn't know 🙄
Thanks so much!!
0
Comments
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Yes, you can withdraw the excess over £12K, or indeed any amount - it would lose its ISA status if you withdrew it to a non-ISA account, but that's not the end of the world. It's potentially a bit late now, but why haven't you taken advantage of a Lifetime ISA instead, which would have allowed you to earn government bonus on the lot?1
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Aaaah great thank you!! So I could siphon off the £5,000 into another ISA to keep the ISA status of the old HtB you mean? I hadn't thought of that...
Good point about the LISA. I'm over 40 so couldnt open one0 -
Lucyfr said:Aaaah great thank you!! So I could siphon off the £5,000 into another ISA to keep the ISA status of the old HtB you mean? I hadn't thought of that...1
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eskbanker said:Lucyfr said:Aaaah great thank you!! So I could siphon off the £5,000 into another ISA to keep the ISA status of the old HtB you mean? I hadn't thought of that...0
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