Help To Buy - ISA - what you need to know in 2020!

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#helptobuy #helptobuyisa #firsttimebuyer
The UK Help To Buy 3 part series!
Help to Buy Equity Loan • Help To Buy - Equity L...
Help to Buy ISA • Help To Buy - ISA - wh...
Help to Buy Shared Ownership • Help To Buy - Shared O...
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Welcome to Property Couple UK! We are Lia and AK, or Achillea, or Ach. Everyone gets his name wrong.. so sometimes we just use his middle name which is James to save people the effort of pronouncing!
We started the Property Couple RU-vid channel to document our journey as first time buyers and first time landlords. Expect weekly vlog updates, finance videos, our experiences with coaches and mentors, first time buyer mortgages, buy to let, refurbishing, financing options, money tips and also a bit of light hearted fun. We wanted to make property accessible and understandable by sharing our own experiences. Make sure to click subscribe and enable all notifications to be notified when we upload a video!

Опубликовано:

26 авг 2020

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Комментарии : 68

@KatieScoot11 3 года назад

Sounds like you and Ach have been doing your homework!!! There are so many intricate details to know and not everyone knows about these. Very nice to help out others in the UK and to hear about the help the government will give first time buyers!

@24severn 2 года назад

I love your explanation! Thanks so much I’m gonna subscribe now ❤️

@LeoTheShortGuy 3 года назад

Very good video. Lots of detailed information.

@liahatz 3 года назад

Well done hun, keep going 😂

@ashp5597 3 года назад

I’ve got this account and I’ve saved £9000 so far. I’m not sure if I will buy a property LOL but it’s got good interest on it.

@ryanshort2895 3 года назад

Woo hoo super helpfulthank youuu

@lilmizzije 3 года назад

There is £0 in my help to buy😭🤣. I keep forgetting the account details.

@olaatoyebi1946 Год назад

Loved the £600,000 error 😂. I kid you not, I spewed tea all over my tablet.

@PropertyCouple Год назад

Hhahah yep!! ridiculous one indeed

@LeoTheShortGuy 3 года назад

Excellent

@fififinance7469 3 года назад

Hey thanks for your video, what kind of apps are you using? 💪

@itsyourboymonkey6707 3 года назад

Very useful video thank you. Just have a question regarding the monthly 'interest paid gross' will that be taken away if you decide not to use help to buy ISA in the future? Thank you

@cerddrhysmorgan 2 года назад

Hi there, thanks for the very informative video! Quick question - what would happen if I was to sell the property before paying the mortgage? Would I then have to repay the bank / mortgage company 25% of the final sale? Hope it makes sense and that you don't mind my query!

@matpalewski4958 3 года назад

does help to buy adjust with property prices? i won’t be purchasing property for another few years and 250,000 now and in 5 years is very different

@ashrafelgendy5827 3 года назад

Can I ask what happens if I decide to go ahead with garage conversion while still under the help to bye.. Will they fine me if I do it without thier permession??will they raise any legal proceedings against me or possess the house? I think they will charge me 20% of the cuurent value of the property when we pay off the loan which i am happy to pay as long as there is no legal proceedings. Any thoughts or advice.

@declanwba1053 3 года назад

Hi great video very detailed, just a quick question... do you have to buy a new build with a help to buy ISA or can you use it to buy an older property. Many thanks

@megans8846 3 года назад

Hi you can buy an older property and still use the help to buy isa

@peggyford3801 3 года назад

Interesting

@impamiizgraa 3 года назад

Anyone know about using the HTB ISA with Shared Ownership? I am buying a SO property buy the full market value is above the 250,000 limit for the HTB ISA - however my share is being purchased below it. Can I still receive the HTB bonus on my ISA savings?

@lewishughes3424 Год назад

What does the £3k actually go towards?

@cause1092 3 года назад

If I invest my 'help to buy isa' money into another investment. Then make profit on that investment, will I have to still pay capital gains tax?

@Michelle-zz2ye 2 года назад

I’m buying a maisonette in Warlingham CR6 for £282,000. Am I still eligible for my bonus? When I’ve checked the map it looks like it’s just outside of the London map by literally a couple hundred feet.

@glennharmer1537 2 года назад

Just a quick question iv got 15.500 for my deposit iv got 5245 in my help to buy isa I no the government bonuses goes towards my deposit iv found a flat that the deposit I need is 15.500 with the bonuses does that mean I dont need to put the full 15.500 as the bonus is going towards the deposit

@FROG_PUSH 3 года назад

😀

@known3909 3 года назад

I wonder if anyone out there has asked this question and got the answer.... I want to first time buy a two bed property using my HTB ISA. I would like to HMO the second bedroom whilst being a live in landlord. Is this allowed? What if then, I want to go travelling for a year and whilst I’m away, let out my bedroom - so then the whole property is being let out. Would this be allowed? What if, on my return from travelling I decide to relocate and buy a second property - will the fact that my HTB 1st property is now essentially a BTL cause me issues? Any help appreciated!

@megans8846 3 года назад

I don’t think you can rent the property out on a residential mortgage, terms and conditions will be for you to live in the property

@susanamaslimll9601 3 года назад

I not understand how I get help to my plm pleas

@incledonboyftw 3 года назад

I didn’t max out my first month but have paid 200 for over a year, can I max it out now or too late

@juk2023 3 года назад

Too late I made same mistake 😑

@Laurenelizo 2 года назад

Only 3000? This is so confusing

@kylemoss17 3 года назад

Will I get the bonus if a property is valued at 265k with a 15k deposit? Making the bank provide me a loan of 250k?

@Michelle-zz2ye 2 года назад

I’ve just realised the property I’m buying May fall outside of London. Were you still eligible for the bonus buying a property over £250k

@laurenmccoy755 3 года назад

I have a question, how long have I got to save this money? I heard you only have 4 years to save into a help to buy isa??

@PropertyCouple 3 года назад

Have you already opened an ISA? I haven't read anything about the 4 year rule. Definitely best to speak to the local help to buy agent to double check but I think you're fine

@gemalem 3 года назад

Does the bonus go towards your deposit? So for instance if you save £10,000 to deposit on a house will it actually be a £12,500 deposit?

@megans8846 3 года назад

Hi I’m currently buying a house and my solicitor has confirmed the bonus does not go towards the deposit. You still need the deposit but then you will be sent the bonus back to your account on completion. Hope this helps

@gemalem 3 года назад

@@megans8846 gotcha! Thank you for letting me know 😁 no one seems to know I even worked for a bank and even their isa team were like 🤷🏻‍♀️😂

@Townshendisgod100 3 года назад

Hi! I'm glad someone asked this question because I'm really confused about how the bonus works as my conveyancer told me that the bonus goes towards the purchase price and doesn't go towards the deposit and it can't go towards legal fees. I have the money to pay for the deposit and conveyancing fees anyway but I'm still confused as to where that bonus goes? Will it come back to my account after completion so I can use it for moving fees, home improvement etc or does it just get knocked off what I owe in mortgage repayments?

@gemalem 3 года назад

@@Townshendisgod100 that's what I don't get either I imagine it comes off your mortgage payments or goes as an overpayment?

@Townshendisgod100 3 года назад

@@gemalem that's what I've come to understand - that it goes down as an overpayment. Although I have friends who tell me that the solicitor will send you the bonus after completion because you can, if needed, use it towards your deposit. So I'm really not sure basically 😂

@danieldacosta8092 Год назад

What if we are buying a shared ownership home for 350k but only buying 40% share which is 140k can we still use the Isa bonus

@PropertyCouple Год назад

From what I've read, yes you can. But always worth double checking with your Help to Buy mortgage advisor because I believe some of them will expire or already have expired

@armanihayaat3641 3 года назад

So if the property is below £250,000? You can’t apply for the 25%?

@vickyho505 3 года назад

Outside london for 250,000. In london needs to be under £450,000

@armanihayaat3641 3 года назад

Vicky Ho thank you.

@flywithjet1783 Год назад

Can one still use ISA if the property price is under 240,000?

@PropertyCouple Год назад

This scheme has now finished.

@GM-tr3cp 3 года назад

Hey mate, me and my partner are earning a total of 65k. We found this house in Essex for 600k but they said they can only allow us to put the 5% (30k) if we earn a total of 100k is this true or is there a way of going around this ?

@rww5668 3 года назад

Can you even borrow that much on a 65k salary?

@megans8846 3 года назад

Lenders normally lend up to X 5 your salary..

@gabz777 3 года назад

I have a help to buy ISA account with Halifax if I want to get my mortgage with a different bank can I still use my help to buy account with Halifax? or will I have to get my moorage with Halifax because that's where my help to buy ISA account is? Appreciate if you can help 😊

@megans8846 3 года назад

No you can use any lender to get a mortgage

@gabz777 3 года назад

Thank you for the reply @@megans8846

@Danimaz3211996 3 года назад

No ove ever explains , is this 3000 a gift or do you in some way end up paying the government this back

@PropertyCouple 3 года назад

It's a grant so you don't pay it back. If you ever see the word 'loan' then it's paid back. If you see 'grant' then it's free money

@Danimaz3211996 3 года назад

@@PropertyCouple thankyou :), I know sometimes they just sneakily get the money back plus more by a small amount of your monthly mortgage payment going to them and the rest to the lender :)

@hemelhempsteadboy Год назад

Help. I want to buy a 600k home and have a help to buy ISA. What can I do? I already have a LISA which I’d prefer to keep for my retirement.

@PropertyCouple Год назад

Because you already have a help to buy ISA, you are allowed to pay £200 in still. The government will top up your savings by 25% (up to £3,000) when you buy your first home but can only be up to 450k (if in London) or 250k anywhere else. You are able to use the Isa until 2030. Alternatively, you can remove the money. Is your goal to buy your first home?

@hemelhempsteadboy Год назад

@@PropertyCouple Yes the goal is to buy our first home. But looking at the area we wish to move to, a house under 250k just isn’t going to be possible.