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These look reasonable to me, are there any negatives to them? The only thing I can think of is £250k not going particular far in the south were I live.
I'm already with Halifax who are offering the best option at the moment.
Thanks
This week's Martin Lewis programme went quite in to detail about them. Might be worth watching on catch up as they covered quite a lot of options and you know it's good advice.
The downside is that the easier it is to buy, the more buyers, and house prices go up more...
Another excellent policy to reinforce house price inflation!
That said, if you plan on buying there is no better place to put your money
What channel is the Martin Lewis program?
Another excellent policy to reinforce house price inflation!
Yep, their sole purpose is to keep the house price bubble nicely inflated as part of re-balancing our economy to be entirely dependant on consumer debt!
Itv
Complete no brainer if you want to buy a house as far as I can see, 25% boost to your deposit for free! The 250k limit is double my mortgage limit so no worries about that for me. There is a good section on the money saving expert website about them. Halifax looks like the one to go for for me anyway.
Has anyone seen a written definition of what they consider "London"? Fairly obvious answer is that it'd be based on London Boroughs, which is disappointing as the place I'd most like to buy - Surbiton - is the very first place outside a London Borough yet with better transport links than many places that are. Hence 250K ain't gonna cut it.
Has anyone seen a written definition of what they consider "London"?
[i]The Help to Buy: ISA scheme uses the standard London boundary as defined by the Office for National Statistics[/i]
Surbiton is in London and has been since 1965. Why would you think it isn't.
A friend of ours was telling us abut this ISA scheme earlier in the week as she'd done huge amount of research on it - apparently you can only ever save £3000, and its not worth it. I don't think she really understands financial stuff - is there a very simple explanation of this scheme with no words longer than 2 syllables as she's a graphic designer.
Croydon is on the list, has good transport links, and also many rougher areas where the prices are probably cheaper...
As I said earlier, Martin Lewis went fully in to detail. He had some right dimmers on the show who seemed to grasp it was a good thing once explained.
£3000 is the most the government will give you for free as the bonus if you save £12,000 in your ISA, though you would also get your interest too. That's a lot for me but probably pocket money for the stw elite
I'd wait until the RAF finish the bombing, it'll be much cheaper then
I'd wait until the RAF finish the bombing, it'll be much cheaper then
Cheapest way to "fix" Croydon.
At 4% it seems like a no-brainer to me, if you haven't bought a house before and haven't contributed to an ISA this year. Hell, even if you don't use the money to buy a house and thus don't get the 25% top up then the 4% interest rate is good.
Anyone know if you can contribute to one of these and an old existing ISA in the same year? I understand you can only open a one a year so I have been waiting until now so as to open a help-to-buy one. But come next year, can I contribute to the help to buy and open a new normal ISA and contribute to that also (as long as I don't go over the 15k limit - which is extremely unlikely).
But come next year, can I contribute to the help to buy and open a new normal ISA
You can contribute to my help to buy ISA 😀
I [i]think[/i] you can do what you want to do though, I think there is even one on that money saving expert list that allows both in the same year via a loophole
Surbiton is in London and has been since 1965. Why would you think it isn't.
Right you are, thanks for that. I actually used to live there for 3 years and spent the whole time thinking it was Surrey!