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Help-to-Buy ISA

randmck1995
randmck1995 Posts: 2 Newbie
in House buying, renting & selling
Hi Guys. I am a first time homeowner and have been in my home for 5 years now. My wife and I are looking to buy a property together, and she has a help to buy ISA. As I am already a homeowner, so not classed as a first time buyer anymore, can we use her HTB ISA to buy our next home together. I have read a lot online that we are unable to use it jointly, as I am not a first time buyer anymore. I have also seen forums where if the house is over £250,000 you are unable to use a HTB ISA anyway. The house we are looking to buy is £360,000 so my question is, can we use her HTB ISA and get the 25% contribution from the government? 

Comments

  • Mark_d
    Mark_d Posts: 2,251 Forumite
    1,000 Posts First Anniversary Name Dropper
    I don't believe you can use the bonus because the £250k limit is a limit on the property price, not your wife's share of the property.
    If you were to buy a property of less than £250k then you would get the bonus on the  grounds that your wife is first time buyer.  Your status doesn't matter because the HTB ISA is your wife's.
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