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When I got sent my conveyancing papers I believe the fees section stated £50 for the solicitors to process the H2B ISA. Looking at my completion statement I don't think they actually charged me. Looking on the gov site at the time, I think there was a maximum they could charge for this process.
It's free money and if you'll gain more in a bonus than in interest earned sitting in a higher rate account then why not do it?
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Watch out for the cap on house value. Late to the party on this one. Our broker didn't notice that we were over the value threshold so between the two of us we were a grand in cash down when the solicitor broke the news that we wouldn't be getting the payout.
pifko
Thoma
@ExTra
Sorry for being a bit lazy to go back a few pages... been thinking about opening a help to buy ISA for a while, but I can't really see me gaining anything significant if buying is not a too distance dream...
Max saving per month: £200 with an additional £1000 for the 1st month, so after 12 months:
£3400 x 2% from my bank x 25% from gov = £4335 (£935 interest)
So if I aim to buy within a year, the max I can gain is less than £1000 and I hear it's not straight forward to get that bonus from the gov? Would possible solicitor fees make it not worth the bother at all? My own ISAs are actually still paying not far off from 2% interest anyway...