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Help to buy isa
PotPoodle
Posts: 6 Forumite
Can you use a help to buy ISA for a property that will be purchased without a mortgage?
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Comments
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You can't get the 25% bonus if you're a cash buyer.PotPoodle said:Can you use a help to buy ISA for a property that will be purchased without a mortgage?0 -
Thank you.1
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So if you borrow money (not through a mortgage - I know this is still considered cash), and have a small mortgage can you get the bonus then? Is there a percentage of the purchase price that needs to be mortgage to clam the bonus?
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There is no percentage but it's a bit extreme to use a mortgage just to get the HTB ISA bonus. Look carefully at the additional legal and lender costs involved not just in setting up the mortgage setup but also on redemption. A lender would usually have a minimum lending amount and may not be happy when you declare the private borrowing.PotPoodle said:So if you borrow money (not through a mortgage - I know this is still considered cash), and have a small mortgage can you get the bonus then? Is there a percentage of the purchase price that needs to be mortgage to clam the bonus?0
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