Help to Buy ISA

Hi,

So I'm looking at opening one of these at the end of the month and putting money into it.

Could my partner do the same?

What happens when we want to buy, can we combine the H2B Isa's?

I'm a little confused about that to be honest.

Thanks

Comments

  • K80_Black
    K80_Black Posts: 466
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    As long as your partner is also a first time buyer, you can both open one and combine them when you buy. This guide explains it - section 4 is the relevant part, but the whole thing is worth reading.

    https://www.moneysavingexpert.com/savings/help-to-buy-ISA/
  • 20SmthngSver
    20SmthngSver Posts: 512
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    If you've both never been homeowners, having bought or been left a property, then yes you can.
  • Alexland
    Alexland Posts: 9,653
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    iarniee wrote: »
    What happens when we want to buy, can we combine the H2B Isa's?

    HTB ISA accounts never get combined.

    Each account gets closed and each closure statement is used to claim a bonus by the solicitor who uses the combined bonus money towards the same property purchase.

    Alex
  • nadroJ
    nadroJ Posts: 1 Newbie
    Me and my partner are looking at buying our first home. It will be both our first purchase of a house. We have enough money for a decent deposit, looking at a 15% deposit, but our credit score is very weak. Whilst waiting for our credit score to become better, we have been advised to set up a HTB ISA each to gain the 'free money'

    Is this actually worth while doing? Without looking into the HTB ISA as much as I have, the bonus you get from the government, do you have to pay this back and how does that all work?
  • badger09
    badger09 Posts: 11,140
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    nadroJ wrote: »
    Me and my partner are looking at buying our first home. It will be both our first purchase of a house. We have enough money for a decent deposit, looking at a 15% deposit, but our credit score is very weak. Whilst waiting for our credit score to become better, we have been advised to set up a HTB ISA each to gain the 'free money'

    Is this actually worth while doing? Without looking into the HTB ISA as much as I have, the bonus you get from the government, do you have to pay this back and how does that all work?

    Have you read the article linked in post 2?
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