Halifax Help to Buy ISA going down from 3.5% to 2.25%...

I remember it being 4% when I first opened mine. Glad I swapped to Skipton LISA earlier this year

serg85 wrote: »

any good alternatives out there now? I remember Halifax as being one of the better ones back in the day...

I doubt the providers will spend much time trying to promote HTB ISAs given the accounts can only be opened until 30th November 2019 which is only 18 months away now. Soon they are going to have to make the decision to either back the LISA or exit the FTBer saver market.

Alex.

diggingdude wrote: »

Barclays is probably the best now which is a sad reflection on the state of these accounts

It is annoying as this was becoming a decent product with £7.5k getting 3.5% tax free. Clearly becoming expensive and unsustainable. I was hoping some of the people transferring to Skipton LISAs would have reduced their cost a bit.....

I am considering Barclays, although leaving it until last minute as if everyone transfers to Barclays there is always the possibility they chop their rate too.

dalescaff wrote: »

I've had a letter last week saying my Halifax HTB ISA is going down in August too. I'm only guessing here and using the posts above, but if I take up a SKipton or Barclays ISA:

1) Are they HTB too? i.e. do the government match the 25% I put in?

If you wish to continue with the Help to Buy ISA scheme then, at the risk of stating the obvious, you need an account clearly called a Help to Buy ISA! Barclays do indeed offer one with a higher rate than Halifax's but Skipton don't, although they do offer a Lifetime ISA instead, which is a similar but different scheme, also involving a 25% government bonus but with lower interest, offset by higher contribution and property value limits. Read up on Lifetime ISA and how it compares with HTB ISA at https://www.moneysavingexpert.com/savings/lifetime-ISAs as it may be a better option for you.

dalescaff wrote: »

2) Do I get penalised by Barclays, Halifax or the government in any way for the swap? .i.e. you can only put £1,200 in to start, or I lose my 25% contribution for moving etc.

You can transfer one HTB ISA to another HTB ISA (also with 25% bonus) if the new one accepts inbound transfers. You don't have to start again according to the rules, but anecdotally I'm pretty sure I've read on here that some Barclays staff haven't been aware of this....

deutsch wrote: »

sorry to dig up an old thread. if i transfer the halifax htb isa, will get get the pro rata interest paid?

In a word, yes.