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  • FIRST POST
    • cmbrookes
    • By cmbrookes 10th Mar 18, 9:20 PM
    • 2Posts
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    cmbrookes
    Are the Help to buy ISA's being phased out?
    • #1
    • 10th Mar 18, 9:20 PM
    Are the Help to buy ISA's being phased out? 10th Mar 18 at 9:20 PM
    Hi


    I have heard that just opened a help to buy ISA with £1200, to the be told that the government plan to stop paying the bonus on these ISA's because they cannot afford it any longer. I was then advised to open a life time ISA and transfer the money I have in my h2b ISA over because there is still a bonus. Is this the case with the government stopping the bonus on the h2b ISA? if so then how can they afford to pay the bonus on the life time ISA and not the h2b one? Thanks.
Page 1
    • Alexland
    • By Alexland 10th Mar 18, 9:37 PM
    • 2,388 Posts
    • 1,789 Thanks
    Alexland
    • #2
    • 10th Mar 18, 9:37 PM
    • #2
    • 10th Mar 18, 9:37 PM
    Yes you can open an account until 30th November 2019 and must claim your bonus by 1st December 2030. It's not being driven by affordability the replacement LISA product enables you to deposit more for a bigger 25% bonus.
    Last edited by Alexland; 10-03-2018 at 9:40 PM.
    • cmbrookes
    • By cmbrookes 11th Mar 18, 7:38 AM
    • 2 Posts
    • 0 Thanks
    cmbrookes
    • #3
    • 11th Mar 18, 7:38 AM
    • #3
    • 11th Mar 18, 7:38 AM
    Thank you for that information. I plan on buying my first house with in the next 3-4 years, so I assume I am not affected by the phasing out?
    • Alexland
    • By Alexland 11th Mar 18, 9:29 AM
    • 2,388 Posts
    • 1,789 Thanks
    Alexland
    • #4
    • 11th Mar 18, 9:29 AM
    • #4
    • 11th Mar 18, 9:29 AM
    If you already hold a HTB ISA then you are fine unless your property buying plans are delayed to the end of 2030 or beyond.

    Still it's worth double checking the LISA in case it meets your needs better.
    • MiserlyMartin
    • By MiserlyMartin 12th Mar 18, 2:17 AM
    • 1,896 Posts
    • 1,355 Thanks
    MiserlyMartin
    • #5
    • 12th Mar 18, 2:17 AM
    • #5
    • 12th Mar 18, 2:17 AM
    I fundamentally disagree with the Help to Buy ISA and the help to buy scheme in general. All it has done is make unaffordable houses even more unaffordable. If you need 'help' to buy something then it is too expensive. Even more annoying is that it's tax payers who are funding this socialist scheme and normal savers are suffering lower rates in order to subsidise these special ISA's for 'help' to buyers. Savers are also suffering lower rates because of lower rates for mortgage lending and the FLS.
    • Alexland
    • By Alexland 12th Mar 18, 7:00 AM
    • 2,388 Posts
    • 1,789 Thanks
    Alexland
    • #6
    • 12th Mar 18, 7:00 AM
    • #6
    • 12th Mar 18, 7:00 AM
    I fundamentally disagree with the Help to Buy ISA and the help to buy scheme in general. All it has done is make unaffordable houses even more unaffordable. If you need 'help' to buy something then it is too expensive. Even more annoying is that it's tax payers who are funding this socialist scheme and normal savers are suffering lower rates in order to subsidise these special ISA's for 'help' to buyers. Savers are also suffering lower rates because of lower rates for mortgage lending and the FLS.
    Originally posted by MiserlyMartin
    Well through the 80s and 90s there was MIRAS. I don't have a problem with the government giving something small to help young people buy their first house. We first bought in the 2000s so didn't get any scheme to help us.

    Alex
    Last edited by Alexland; 12-03-2018 at 7:03 AM.
    • eskbanker
    • By eskbanker 12th Mar 18, 9:01 AM
    • 7,137 Posts
    • 7,564 Thanks
    eskbanker
    • #7
    • 12th Mar 18, 9:01 AM
    • #7
    • 12th Mar 18, 9:01 AM
    it's tax payers who are funding this socialist scheme
    Originally posted by MiserlyMartin
    Ah yes, one of those many socialist schemes that the Cameron government was renowned for!
    • Rich2808
    • By Rich2808 14th Mar 18, 4:10 PM
    • 607 Posts
    • 457 Thanks
    Rich2808
    • #8
    • 14th Mar 18, 4:10 PM
    • #8
    • 14th Mar 18, 4:10 PM
    I fundamentally disagree with the Help to Buy ISA and the help to buy scheme in general. All it has done is make unaffordable houses even more unaffordable. If you need 'help' to buy something then it is too expensive. Even more annoying is that it's tax payers who are funding this socialist scheme and normal savers are suffering lower rates in order to subsidise these special ISA's for 'help' to buyers. Savers are also suffering lower rates because of lower rates for mortgage lending and the FLS.
    Originally posted by MiserlyMartin
    I agree on the help to buy front – that has pushed up prices of new builds. Well if you offer a 20% (or 40% in London) interest free loan to buy a product – well any sensible provider of said product is going to put their prices up 20 or 40%. Hey presto - £500k one bed new build flats in not so nice parts of London.

    But the help to buy isa hasn’t really contributed to house price inflation – its an incentive to save and buy with a higher deposit (and less debt). So its different.
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