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I’d say that is a really good move. I had some spare money in my first year but I decided to be stupid and spend it away. I’d look at the Lifetime ISA. It seems it’s a lot easier to use and has a much higher limit (£4k). I’m using Nutmeg at the moment.
Also, I’d probably not put it all into one of these ISAs as it’s a pretty illiquid asset and try to keep some aside for rainy day(s).
bananaskid
mcmyk
@bananaskid @skinny I agree. If I (we) aren't going to clear it, making voluntary contributions is such a waste.
I have unused maintenance loan and I'm in third year, I am thinking about taking about 2.4k in maintenance loan and putting £1200 into the first month into a help to buy ISA (2.5% AER then 25% on top of that if used on a house), and then the rest as £200 max contributions to the ISA until my first payday in October when I can continue to do it with my salary. Is that stupid?
Also I think the lifetime ISA and help to buy ISAs are different.