Help to buy ISA, anyone applied?

Discussion in 'Lounge & Gossip' started by Chunkylover53, Tuesday 1st Dec, 2015.

  1. Chunkylover53 Club Veteran ★ ★ ★ ★ ★

    I've just sent my ISA application off to Halifax. On paper it seems pretty good if I get to the £12000 limit for £3000 bonus before I am able to buy a property.

    I personally see this as a win-win situation for most first time buyers, interested to see what you guys think though? Anyone getting it for their kids?
     
    Loading...
    FirstHonda likes this.
  2. SpeedyGee Administrator Staff Team

    England Speedy Birmingham
    15,885
    6,773
    4
    Seems pretty good from what I've just read

    Although I don't think you can get "Help to Buy" one for your children as it says :-
    • You must be a first time buyer to open a Help to Buy: ISA account.
     
    Loading...
  3. Nels Moderator Staff Team

    Loading...
  4. Kash Senior Member ★ ★ ☆ ☆ ☆

    United Kingdom Kash Nelson
    205
    41
    It's only for first time buyers only.
     
  5. FirstHonda Moderator Staff Team

    United Kingdom Ed Wiltshire
    7,207
    5,123
    I think it sounds like an excellent idea. I guess the issue will be whether there are enough, affordable, houses being built for those with the ISA to get onto the ladder when it 'matures.'
     
    Loading...
  6. Chunkylover53 Club Veteran ★ ★ ★ ★ ★

    Oop, I meant to say. Your child has to pay for the ISA through their bank account but if they don't have an income you can just set up a standing order :Smile:
    - - - Updated - - -
    Yup, much better that way.
    - - - Updated - - -
    I've thought that too but you can always withdraw the funds with the interest on top. My main worry would be if future governments decided to not honour the bonus in which case you would still get the money with interest back at least.
     
    Loading...