Nationwide Help to Buy ISA 2.5% up to £12,000 for eligible first-time buyers
-95°

Nationwide Help to Buy ISA 2.5% up to £12,000 for eligible first-time buyers

26
Posted 11th Jul
Eligible first-time buyers who could boost their savings with a 25% government bonus.

- Put £1200 in initially, and then a max of £200 a month
- 2.5% interest with no tax
- Potential to put more than £12,000 in the account
- Free daily withdrawals

For me this beats most other ISAs. It beats the monthly savers too, as it doesn’t reset every year and has a relatively decent return for what it is
Community Updates

Groups

Top comments
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


Pretty sure those "millenials" with a so-called "easy ride" would much prefer the housing market as it was 30+ years ago.
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


You spent 30 years paying off your 30K mortgage? Damn son, you should have asked for more shifts at burger King while the shifts were booming.
26 Comments
You need to add that it's a help to buy ISA in the title.
Should make it clear in the title this is a H2B ISA.
dealdelver11/07/2019 00:18

You need to add that it's a help to buy ISA in the title.


It’s an ISA. Forget the help to buy, my deal isn’t targeted towards help to buy anything.

I don’t plan on getting any bonus out of it but it’s a decent way to earn a bit on £12k
RandyMarsh197411/07/2019 00:21

It’s an ISA. Forget the help to buy, my deal isn’t targeted towards help to …It’s an ISA. Forget the help to buy, my deal isn’t targeted towards help to buy anything.I don’t plan on getting any bonus out of it but it’s a decent way to earn a bit on £12k


I don't think you understand what you are saying
digipeep11/07/2019 00:19

Should make it clear in the title this is a H2B ISA.


Most people will never use this as a help to buy ISA. Just to earn 2.5% interest.
moh_mons11/07/2019 00:22

I don't think you understand what you are saying


Get out.
Rules include “be an Eligible Customer as set out in the Government’s Help to Buy: ISA Scheme Rules - which includes never having owned a residential property.”
holidaymann211/07/2019 00:24

Rules include “be an Eligible Customer as set out in the Government’s Help …Rules include “be an Eligible Customer as set out in the Government’s Help to Buy: ISA Scheme Rules - which includes never having owned a residential property.”


That is to be able to action the bonus. As far as the interest goes you can still get it. There are no checks unless you want to go to a solicitor to get the 25% bonus
As it's a help to buy ISA you have to be eligible, that is to say you have to fulfil the criteria set out by the government.. Part of the eligibility requirement is that you must have never owned a residential property.
Edited by: "dealdelver" 11th Jul
"Any UK resident can open to a Help to Buy Isa - but to qualify for the bonus, you need to:

Use the money to buy your first home; and
Buy a home costing a maximum of £250,000, or £450,000 in London."
I would still potentially go for Barclays with a slightly higher interest rate of 2.58%.
Edited by: "rugbymike" 11th Jul
If you open this type of account you will sign a declaration to say that you have never owned your own home. Sure you can open one but you will have broken the law. This is the document you sign to open an account helptobuy.gov.uk/doc…df/
Edited by: "holidaymann2" 11th Jul
dealdelver11/07/2019 00:31

As it's a help to buy ISA you have to be eligible, that is to say you have …As it's a help to buy ISA you have to be eligible, that is to say you have to fulfil the criteria set out by the government.. Part of the eligibility requirement is that you must have never owned a residential property.


That is you can't have owned any property anywhere in the world as far as I know
RandyMarsh197411/07/2019 00:26

That is to be able to action the bonus. As far as the interest goes you …That is to be able to action the bonus. As far as the interest goes you can still get it. There are no checks unless you want to go to a solicitor to get the 25% bonus


No it's not. It specifically says:

"To open this account you must:" .. "be an Eligible Customer as set out in the Government’s Help to Buy: ISA Scheme Rules - which includes never having owned a residential property.
Ashe11/07/2019 01:02

No it's not. It specifically says:"To open this account you must:" .. "be …No it's not. It specifically says:"To open this account you must:" .. "be an Eligible Customer as set out in the Government’s Help to Buy: ISA Scheme Rules - which includes never having owned a residential property.


That’s one opinion
RandyMarsh197411/07/2019 01:03

That’s one opinion


I'm not entirely sure that an unaltered copy and paste from the Nationwide website where they specifically say "you must ..." should be described as merely "one opinion".
Ashe11/07/2019 01:06

I'm not entirely sure that an unaltered copy and paste from the Nationwide …I'm not entirely sure that an unaltered copy and paste from the Nationwide website where they specifically say "you must ..." should be described as merely "one opinion".


I'd go for it being more of a fact, but hey!
wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


Pretty sure those "millenials" with a so-called "easy ride" would much prefer the housing market as it was 30+ years ago.
Ashe11/07/2019 01:02

No it's not. It specifically says:"To open this account you must:" .. "be …No it's not. It specifically says:"To open this account you must:" .. "be an Eligible Customer as set out in the Government’s Help to Buy: ISA Scheme Rules - which includes never having owned a residential property.


Well it seems that the mods cleared up this thread pretty well - I've never seen them do anything more than suspend an account, so I doubt they'd delete that idiot's account fully, but I did make a request to do something!
Ashe11/07/2019 01:06

I'm not entirely sure that an unaltered copy and paste from the Nationwide …I'm not entirely sure that an unaltered copy and paste from the Nationwide website where they specifically say "you must ..." should be described as merely "one opinion".


But I'm sure he/she will be ban trolling with another account straight away, unless they ban ip addresses - which I doubt.

Good work mods
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


You spent 30 years paying off your 30K mortgage? Damn son, you should have asked for more shifts at burger King while the shifts were booming.
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


oh dear oh dear. the poor guys at burger king probs dont know if they'll be able to pay their rent just in time for them to finish uni and you think they can afford to buy a house? dont talk about working socks off mate - me and my mrs get 62k combined per year and still finding it hard to get on the market!
philjstephenson11/07/2019 07:45

wonderful, give more money to people who cant afford it to buy a house …wonderful, give more money to people who cant afford it to buy a house that'll be repossessed when their shifts at Burger King get cut back...my taxes being wasted...not a popular view but i didnt work my bum bum off for 30 years to pay off my mortgage to give some millenial an easy ride!


absolute clown! can not help the generation in which you are born! house prices have absolutely rocketed, its not as cheap to buy a house off of the council anymore or buy a house in general.
grantb9311/07/2019 10:57

absolute clown! can not help the generation in which you are born! house …absolute clown! can not help the generation in which you are born! house prices have absolutely rocketed, its not as cheap to buy a house off of the council anymore or buy a house in general.


It's way better just to ignore trolls on here and use the mute function so their comments no longer show as you scroll through posts
2.57% with Barclays
holidaymann211/07/2019 00:40

If you open this type of account you will sign a declaration to say that …If you open this type of account you will sign a declaration to say that you have never owned your own home. Sure you can open one but you will have broken the law. This is the document you sign to open an account https://www.helptobuy.gov.uk/documents/2015/12/eligibility-of-ftbs.pdf/


My understanding is that this document refers to claiming the government bonus when purchasing an eligible 1st time property and not to open an account.

That's because it specifically asks for an address and purchase price of the acquired property (which would be irrelevant when you merely open an account with the intention to buy a property several years down the line) and the -existing- H2B ISA account number. And further down it says "I have operated my Help to Buy: ISA in accordance with the terms and conditions" which also openly implies that you have already a H2B ISA.

Now, someone else commented that the bank's T&Cs stipulate that you have to open this type of account with the only purpose of buying a 1st time property and thus just opening one for general savings instead (as LISAs expressly allow you to do) isn't allowed. That's debatable in my opinion, but it's even more questionable how enforceable -by a bank- such a term can be anyway.
diktiomenos11/07/2019 15:20

Now, someone else commented that the bank's T&Cs stipulate that you have …Now, someone else commented that the bank's T&Cs stipulate that you have to open this type of account with the only purpose of buying a 1st time property and thus just opening one for general savings instead (as LISAs expressly allow you to do) isn't allowed. That's debatable in my opinion, but it's even more questionable how enforceable -by a bank- such a term can be anyway.


I don't think anyone has said the T&Cs stipulate that. There's a comment saying you need to buy a first time property to qualify for the bonus, and my comment saying that the terms state you need to be an "Eligible Customer" from the H2B scheme rules to open it, but nothing that says you need to open it only for the purpose of buying a 1st time property.
Post a comment
Avatar
@
    Text