Frequently asked questions regarding the withdrawal of the Help to Buy ISA scheme.
Please note, as of the 21st April 2023 we no longer accept Help to Buy: ISA transfers.
If you did not open a Help to Buy ISA before this date, you will be unable to open one.
If you already have a Help to Buy ISA you will be able to transfer this to a different provider after this date.
Yes, you are still able to transfer your Help to Buy ISA from your current provider.
Yes, you can transfer your funds (subject to the Help to Buy ISA monthly deposit limits) into your Help to Buy ISA from another type of ISA (subject to their terms and conditions).
Yes, under the scheme rules you have the right to reopen your account if your property purchase fails – However you must present a Purchase Failure Notice (PFN) to Newcastle Building Society.
You must also request to reopen your account within 12 months of the account closure date (which can be found on the closing statement).
Once you have reinstated your account, you can save into your Help to Buy ISA until 30 November 2029, with a further 12 months to claim your bonus (until 1 December 2030).
Yes, you can re-open your account with the same provider as your previous Help to Buy: ISA if they still offer the product, or you could open with a new provider (should they choose to accept a transfer).
If your previous provider does not offer the Help to Buy ISA anymore, they must ensure that you are able to open a Help to Buy ISA with an alternative provider.
No, in this instance you would be considered a new entrant into the scheme, which is not possible.
You can only close and re-instate your Help to Buy ISA after this date if you intended to purchase a property and the transaction fell through.
Yes, if you are aged 18-39 you may wish to apply for our Lifetime ISA. This account allows you to save up to £4,000 annually and awards a 25% government bonus on all savings. For more information, please view our Lifetime ISA page.
If this is not suitable for your needs, please visit one of our branches and our friendly staff will help you find the right account for you.