Help to Buy: ISA (Transfers only)
Important Information - Help to Buy: ISAs were closed to new applicants from 30 November 2019. This product is now only available for Help to Buy: ISA transfers. Should you wish to transfer to the Society, please visit your local branch. If you already have a Help to Buy: ISA, you will be able to continue saving in your account until 1 December 2030.
- Open with: £1
- Take money out: anytime
- Invest up to: £200 per month
- Transfers only
- Apply in Branch
|Account Name||Help to Buy: ISA (Transfers only)|
Monthly 1.63% tax free PA / 1.64% AER (Variable)
|Can Newcastle Building Society change the interest rate?||
We can change the rate of interest payable on this account. The account is a variable rate account which means that the rate of interest paid may change throughout the lifetime of the account. Please refer to section 3 of the Savings General Terms & Conditions which sets out the reasons for which Newcastle Building Society may change the interest and the procedure for doing so.
|What would the estimated balance be after the first 12 months of account opening based on a £1,000 deposit?||
This projection is based on an initial £1,000 deposit and 11 further monthly deposits of £200 and no withdrawals are made.
Please note: This projection is provided for illustrative purposes only and does not take into account the customer’s individual circumstances.
|How do I open and manage my account?||
Opening your account: This product is now only available for Help to Buy: ISA transfers. Should you wish to transfer to the Society, please visit your local branch.
Existing customers can manage your account by visiting your local branch, calling us or logging in to your Newcastle Building Society account online.
Giving us instructions for your account: In branch, by telephone, online or by secure message (for accounts opened and operated online).Maximum
Monthly deposit: £200 (following successful transfer of existing Help to Buy: ISA funds).
|Can I withdraw money?||
Withdrawals/transfers can be made penalty free without notice. Any withdrawals from the account can only be repaid in accordance with the maximum monthly subscription limits.
Please note: Should you transfer or withdraw funds from this product to a non Help to Buy: ISA, you will not be able to reinstate these funds unless the purchase of your property falls through. If this happens you’ll be provided with a failure notice which can be sent back to us and we’ll repatriate your funds into a new Help to Buy: ISA.
You will not be entitled to claim the 25% government scheme bonus for the funds withdrawn from this account.
Tax Status: Interest will be paid gross*.
Conditions for the 25% government bonus: A 25% government bonus will be calculated and paid on the closing balance of the Help to Buy: ISA by the Eligible Conveyancer on the customer’s request to close their Help to Buy: ISA.