Keep going until you're 50 I believe. Then you can use it to either buy a house for the first time, or take it out when you retire. I believe you can have both, but it's useless. You can only use one to buy a house. Unless you want to use the LISA JUST for the pension, and HTB for the house. But yeah, I'm fairly sure the LISA isn't treated as a cash ISA, HTB is only treated as a cash ISA, so it's separate. Don't quote me on that, though.
So how many years an you get the government bonus? So after five years would it stop for Instance? Which would cap it at 5k? Or can I keep going until I buy a house.
How many years will the government give the %25 towards? So would it be capped at 5 years for instance which would give a 5k bonus?
I have a help to buy isa with Halifax at 3.5%, would it be recommended and could I open one of these accounts and put in the £4000. And use the original help to buy as a savings account with the 3.5%? I read you can not pay into two isa in the same year so any advice would be appreciated, thanks
Ok, it wasn't the clearest way to point out that the Lisa hasn't been out long enough to be used, so the stats on their usage simply don't exist yet. However, I never said none of the individuals that used equity loan schemes would use HTB ISAs. I made the point repeatedly and clearly, that you have no clue how many people that take out a LISA will use the other schemes, you're making a presumption. And just to be clear, yes, some people with LISAs will in the future use them for new builds and / or equity loan schemes. This is going round in circles though, we should have stopped this conversation 7 posts ago. The point is regardless of what Government help to buy schemes you are going to use, or none at all, if you're definitely planning on buying a house in the near future, the LISA is a great option. With regards to old property, this really depends where you live... In my area, and this might sound callous, the baby boomers are dying off and many properties that have been occupied by aging residents are coming onto the market, at the same time many EU residents are leaving. We don't all live in crowded cities in England.