Help to Buy ISA + Additonal Cash ISA?

[snoopy25]

Hiya guys

I wonder if anyone knows the answer to this question? As I have had a google but i'm still not sure.....

I have a 'Help to buy' ISA that I opened in 2019 with Natwest which I currently put the maximum of £200 a month in. However, From March this year I will have the ability to put away an additional £500 on top of this. Am I able to open an additional Cash ISA alongside this? or will i be told that this is not possible? I 'think' I can have a stocks and shares ISA but if i'm honest I don't really want to open myself up to any risk with this money, but then again I don't think it sitting in an account paying a derisory 0.1% will be the correct thing to do either.

Would it be possible to open an additional Cash ISA alongside the 'Help to Buy' ISA that I currently have?

Apologises in advance if this is a stupid question and the answer is pretty obvious lol

[marked1]

I was under the impression you cannot have a Help to buy Isa and a cash Isa at the same time as they are both considered cash ISA's

The bloke of the telly might have something on his page about it (money saving expert)

on a different note, i tried to open up a LISA with a bank for my stepson last week (as HTB ISA are now discontinued) and all of the high street banks do not do them any more.

[snoopy25]

Thank you for your response

I thought this was the case but haven't been able to find anything concrete, but perhaps I was looking in the wrong places. I'll head over and see what I can find out on the moneysavingexpert site

[Jawls]

snoopy25 said:

Hiya guys

I wonder if anyone knows the answer to this question? As I have had a google but i'm still not sure.....

I have a 'Help to buy' ISA that I opened in 2019 with Natwest which I currently put the maximum of £200 a month in. However, From March this year I will have the ability to put away an additional £500 on top of this. Am I able to open an additional Cash ISA alongside this? or will i be told that this is not possible? I 'think' I can have a stocks and shares ISA but if i'm honest I don't really want to open myself up to any risk with this money, but then again I don't think it sitting in an account paying a derisory 0.1% will be the correct thing to do either.

Would it be possible to open an additional Cash ISA alongside the 'Help to Buy' ISA that I currently have?

Apologises in advance if this is a stupid question and the answer is pretty obvious lol

You could only pay into HTB ISA and a cash ISA in same tax year if the HTB was a split ISA. A few providers offered these (nationwide did).

Might be worth transferring HTB to a LISA if you don’t want to buy for more than a year. You can have a cash LISA and cash ISA at same time.

That said, rates are so crap at the mo that cash ISAs (pure cash ISAs, not HTB or LISA) are basically pointless. If you need to protect your capital, just stick the additional 500 a month in a Marcus account or similar.

[snoopy25]

Jawls said:

You could only pay into HTB ISA and a cash ISA in same tax year if the HTB was a split ISA. A few providers offered these (nationwide did).

Might be worth transferring HTB to a LISA if you don’t want to buy for more than a year. You can have a cash LISA and cash ISA at same time.

That said, rates are so crap at the mo that cash ISAs (pure cash ISAs, not HTB or LISA) are basically pointless. If you need to protect your capital, just stick the additional 500 a month in a Marcus account or similar.

Yep just been going through the Cash ISA rates and its pityful the interest rates there paying at the moment. Your probably right in fact of sticking into another higher paying savings account or I could just pump it into Premium Bonds given the crappy interest rates? I know the returns have lowered on Premum Bonds but, theres zero risk in it.