Help to Buy ISA

[McFsC]

Hi,

Does anyone know if I open a Help to Buy ISA and save the maximum amount ( open with £1000 then £200 p/m ) will I be able to claim the 25% Government bonus and add to the deposit myself or does the deposit have to consist 100% of this ISA?

I'm thinking of buying my own place in the next 1-2, would like to benefit but would also like to put more of a deposit down than the £5/6000 available through this ISA.

Thanks!

[Nickbrapp]

yes you can add any other savings you have for a deposit.

the extra the government puts in goes direct to the solicitor once you close the account, they then apply for the extra and its paid to them.

[Defcon5]

This is only eligible to first time buyers, but how do they check? My partner and I live together however only my name is on the mortgage, so could she get one of these?

[McFsC]

Cheers for that, think I'll get one opened!

[Nickbrapp]

Halifax are offering 4% on their help to buy isa. That's who I went with

[McFsC]

Yes, just opened one with them! Thanks.

[Frik]

I can't think why anyone who hasn't bought yet wouldn't get one of these.

[McFsC]

Likewise. The only thing that was putting me off was if I could add to the deposit. I want to move out in a year/18 months and was concerned as to whether I could add to the fund myself. 18 months at £200 + your 25% isn't all that good really but now I can add my own funds to it, it's free money.

[blank]

Defcon5 said:

This is only eligible to first time buyers, but how do they check? My partner and I live together however only my name is on the mortgage, so could she get one of these?

Yes. According to Martin Lewis the first time buyer can buy with someone who isn't a first time buyer and still get the bonus.

I am in a similar situation and was going to get my girlfriend to open one for a bit of extra cash when we buy "our" house. However the £250k limit makes it pointless for us.