Help to Buy ISA - Stick or Twist?

DannyB07

Hello All,

I am a 50+ year young person and have never had a mortgage. I do not have a regular income but have in total a reasonable amount of savings.

Included in my savings is a Help to Buy ISA which I started with optimism many years ago. I haven't added to it for the last few years because I have found better interest rates elsewhere and I don't plan to buy in the near future - partly because I'm not sure I can get a decent mortgage due to my age.

I currently have just under 10k in the Help to Buy ISA (currently 2.7% gross) and am looking for suggestions on what to do with the savings if I choose to forego the £3000 government top-up. Or perhaps you might think the Help to Buy ISA is worth keeping hold of?

Stick or Twist? Any sensible ideas are most welcome. 

Many thanks in advance.

DannyB07

Kim_13

I’d stick, in your circumstances the Lifetime ISA is out of the question anyway. There’s under 5.5 years left until you would get the money back knowing that the bonus would never have been claimable. It doesn’t seem worth withdrawing it now and potentially kicking yourself later, especially without trying to get a mortgage.

If you are an HSBC customer or become one first, you can transfer it to them for 3% https://www.moneysavingexpert.com/savings/help-to-buy-isa/