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  • FIRST POST
    • Former MSE Paloma
    • By Former MSE Paloma 23rd Nov 15, 9:45 AM
    • 526Posts
    • 245Thanks
    Former MSE Paloma
    MSE News: More providers pledge to provide Help to Buy ISAs
    • #1
    • 23rd Nov 15, 9:45 AM
    MSE News: More providers pledge to provide Help to Buy ISAs 23rd Nov 15 at 9:45 AM
    HSBC, Aldermore, Clydesdale Bank, and Newcastle Building Society are the latest to say they'll offer Help to Buy ISAs...

    Read the full story:

    More providers pledge to provide Help to Buy ISAs




    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • CKhalvashi
    • By CKhalvashi 23rd Nov 15, 10:35 AM
    • 9,024 Posts
    • 25,833 Thanks
    CKhalvashi
    • #2
    • 23rd Nov 15, 10:35 AM
    • #2
    • 23rd Nov 15, 10:35 AM
    Great, government money is going to be propping up house prices again......
    "I kada sanjamo san, nek bude hiljadu raznih boja" (L. Stamenkovic)

    Call me Remainer or Romaniac, but not Remoaner. It's insulting and I have the right to have my voice heard too.

    I can spell, my iPad can't.
    • King_Nothing
    • By King_Nothing 23rd Nov 15, 11:45 AM
    • 816 Posts
    • 1,094 Thanks
    King_Nothing
    • #3
    • 23rd Nov 15, 11:45 AM
    • #3
    • 23rd Nov 15, 11:45 AM
    Anyone actually going to bother to divulge any information about them, only about 2 weeks until you can get one, and nobody has said anything about what they'll offer.
    • redux
    • By redux 23rd Nov 15, 11:50 AM
    • 20,080 Posts
    • 28,186 Thanks
    redux
    • #4
    • 23rd Nov 15, 11:50 AM
    • #4
    • 23rd Nov 15, 11:50 AM
    The banks might offer no interest on the account at all, on the basis that nice Mr Osborne will be adding what works out to about 8.5%
    • colsten
    • By colsten 23rd Nov 15, 6:51 PM
    • 11,625 Posts
    • 11,000 Thanks
    colsten
    • #5
    • 23rd Nov 15, 6:51 PM
    • #5
    • 23rd Nov 15, 6:51 PM
    Anyone actually going to bother to divulge any information about them, only about 2 weeks until you can get one, and nobody has said anything about what they'll offer.
    Originally posted by King_Nothing
    Are we almost there, Dad?
    • GreenBitterfly
    • By GreenBitterfly 23rd Nov 15, 8:49 PM
    • 376 Posts
    • 742 Thanks
    GreenBitterfly
    • #6
    • 23rd Nov 15, 8:49 PM
    • #6
    • 23rd Nov 15, 8:49 PM
    8 more days, just about!
    • louismcd
    • By louismcd 24th Nov 15, 9:12 AM
    • 38 Posts
    • 1 Thanks
    louismcd
    • #7
    • 24th Nov 15, 9:12 AM
    Help to buy ISA - nearly 1st December
    • #7
    • 24th Nov 15, 9:12 AM
    I spoke to a couple of banks recently, they are waiting for final details to be released by the government. More and more banks have confirmed they will offer the accounts which is positive, just a shame for those that want to get on board ASAP that we could potentially miss out on £50 a month bonus each month we're unable to open a H2B ISA.
    • colsten
    • By colsten 24th Nov 15, 9:38 AM
    • 11,625 Posts
    • 11,000 Thanks
    colsten
    • #8
    • 24th Nov 15, 9:38 AM
    • #8
    • 24th Nov 15, 9:38 AM
    There is really no reason for any panic or hysteria. The HTB ISAs will become available on December 1, and the bonus is per calendar month. So you have until the end of December to make your first payment.
    • louismcd
    • By louismcd 24th Nov 15, 12:01 PM
    • 38 Posts
    • 1 Thanks
    louismcd
    • #9
    • 24th Nov 15, 12:01 PM
    • #9
    • 24th Nov 15, 12:01 PM
    There is really no reason for any panic or hysteria. The HTB ISAs will become available on December 1, and the bonus is per calendar month. So you have until the end of December to make your first payment.
    Originally posted by colsten
    I've seen that the scheme runs from December 1st, it doesn't necessarily mean that banks have to have accounts available from this date. I know it is a matter of when and not if the accounts are available but you would expect to be able to open an account now to start saving when the scheme launches.
    • colsten
    • By colsten 24th Nov 15, 1:59 PM
    • 11,625 Posts
    • 11,000 Thanks
    colsten
    You can deposit into savings accounts as soon as they are opened. An HTB ISA is just another savings account, albeit available only to a subset of the population, and some ISA rules. We have had ISAs for almost two decades now, and the small number of additional rules apply to every provider equally and have been published a while ago.

    There is absolutely no reason for any bank to make complex arrangements for allowing people to open accounts into which they cannot make deposits.

    I take your point that there is no obligation on any bank that they will have an HTB ISA available on December 1 2015, or ever, for that matter. It is, however, safe to assume that there will be some providers who will have the offer from December 1. For example, Nationwide have declared their intention to do so, right back in July this year. http://www.nationwide.co.uk/about/media-centre-and-specialist-areas/media-centre/press-releases/archive/2015/7/25-help-to-buy-isa

    Just to reassure you, for the bonus it doesn't matter one iota whether you make your first month's deposit on December 1 or 31. In terms of interest, it probably also is pretty much irrelevant when you put your £1,200 in as the interest rate will probably be mediocre. Your £1,200 will almost certainly earn 2-3 times the interest in a TSB Plus account.

    I predict that there will only be marginal differences between HTB ISAs offered by the various providers. All of them must comply with the rules laid out by the government. So if you want to understand more about the HTB ISA, you can read up about it on the government website. http://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work

    The differences will probably be in interest rates, but there won't be any massive delta. The other difference will be that one or two providers will allow you to pay into both, and HTB and a normal cash ISA. One of those will definitely be Nationwide. However, since you can get better interest outside normal cash ISAs, this is of very limited value.
    • MARTYM8`
    • By MARTYM8` 24th Nov 15, 6:49 PM
    • 1,197 Posts
    • 854 Thanks
    MARTYM8`
    The banks might offer no interest on the account at all, on the basis that nice Mr Osborne will be adding what works out to about 8.5%
    Originally posted by redux
    On the other hand they might want to compete for first time buyers by offering good rates - on the basis that if they get your help to buy ISA investment you are more likely to take out a mortgage with them.

    They will make far more out of a mortgage than the costs of running a loss leading HTB ISA with a good rate.

    Perhaps we won't actually get any details until next Monday - we will see who jumps first!

    Frankly any one with any sense will opt for Nationwide or Aldermore - as you can also have a normal cash ISA as well with them and thus be able to take advantage of your full annual ISA allowance (i.e. £13k more) via a cash ISA rather than the maximum £1,800 you could pay in this year and £2,400 next via the help to buy isa.
    Last edited by MARTYM8`; 24-11-2015 at 6:52 PM.
    • eskbanker
    • By eskbanker 24th Nov 15, 11:38 PM
    • 12,118 Posts
    • 15,026 Thanks
    eskbanker
    Frankly any one with any sensedesire to fill up standard cash ISAs rather than potentially getting better rates elsewhere will opt for Nationwide or Aldermore - as you can also have a normal cash ISA as well with them and thus be able to take advantage of your full annual ISA allowance (i.e. £13k more) via a cash ISA rather than the maximum £1,800 you could pay in this year and £2,400 next via the help to buy isa.
    Originally posted by MARTYM8`
    Fixed that for you
    • Archi Bald
    • By Archi Bald 25th Nov 15, 1:17 AM
    • 9,376 Posts
    • 7,432 Thanks
    Archi Bald

    Frankly any one with any sense will opt for Nationwide or Aldermore - as you can also have a normal cash ISA as well with them and thus be able to take advantage of your full annual ISA allowance (i.e. £13k more) via a cash ISA rather than the maximum £1,800 you could pay in this year and £2,400 next via the help to buy isa.
    Originally posted by MARTYM8`
    Where's the sense coming into it?

    Why would anyone put money into a cash ISA when they can get lots more interest outside it?
    • MDMD
    • By MDMD 25th Nov 15, 6:04 AM
    • 491 Posts
    • 391 Thanks
    MDMD
    On the other hand they might want to compete for first time buyers by offering good rates - on the basis that if they get your help to buy ISA investment you are more likely to take out a mortgage with them.
    Originally posted by MARTYM8`
    It is only the Daily Mail, but

    http://www.dailymail.co.uk/money/mortgageshome/article-3332625/Greedy-banks-plotting-boost-profits-pinching-Government-tax-break-meant-help-time-buyers.html
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