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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?
pifko-
Yes couse, if it's really as easy as doing a few bits of paper work and worst case is the gov bonus don't pay out then it's a no brainer... for some reasons, I had this thought as the back of my head that the money will be tied down for longer, as in I can't just go take it out right now and it'd be a lot of faff etc etc...
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...