Help To Buy ISA

[Juanco20]

Apologies if this comes across as a daft question but just after a bit of advice

I've currently got some money tied up that isn't quickly/easily accessible. I then have a fair amount sat in current account and approx £6,000 in help to buy ISA

I'm currently looking at upgrading my current car in a part exchange which will require a payment of around £10,000.

Can anyone explain the exact rules on withdrawing money from a help to buy ISA. Say I take £2,000 out of it this month, can I put £2,000 back in to it next month and be back in the same position? Or once that £2,000 is removed, is the only way to top it back up by paying £200/month and it will therefore take me 10 months to get back to the position I am now?

[bobclayton]

As you said in the last sentence really - you can only ever put in the £200 per month, so yes, you'd be having to wait 10 months to get back upto speed!

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/#...

[CharlieH89]

If you take £2000 out you basically lose £500.

[Juanco20]

Fair enough, might have to rethink that then

I suppose you can look at it as £500 lost or 1 year lost as it is possible to still get to the full government contribution, it would just take a year longer

[Drumroll]

A loan would be cheaper.