Help to buy ISA and giving my husband money

Epona · 8 June 2018 at 1:03PM

I hope someone out there can advise....

I am a homeowner, hubby is not and never has been - he's not on my mortgage or title deeds. So I reckon he is eligible to get a help to buy ISA. (we are both over 40, so not considering a LISA).

Hubby doesn't have an income at the moment, but I reckon i have enough to pay into some savings for me, and 'give' him £200 a month to pay into the ISA, which will eventually go towards the house we are planning to buy together in a year or two's time.

Is this OK legally and would allow him to claim the government bonus (providing all other terms and conditions are met)?

I realise there is a risk of him running off with my money, and have considered that separately.

Any advice much appreciated! Thanks in advance.

eskbanker · 8 June 2018 at 1:11PM

Yes, there's nothing to stop you from giving money to your husband for him to put into a HTB ISA in his name, and ultimately, as he's never owned a property, he can use the HTB ISA, with bonus, to purchase one jointly with you.

Alexland · 8 June 2018 at 7:56PM

Sure to make it even easier just make the contribution from a joint current account. If my partner 'ran off' with a balance derived from £200 per month cash savings that would be a very cheap divorce settlement!