The Budget 2015 – 12:30

[TW]Fox;27790838 said:
It's crap, you can only invest 200 quid a month.
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£1k down in the first month, and then it's on top of the normal ISA allowance, so doesn't seem that bad to me. Of course there's no information as to what happens if you decide not to buy (taxed presumably).

Edit: Just read the fact sheet, only applicable up to £250k outside of London, so not appropriate for me. Doesn't really seem fair for FTBs in say Cambridge then, because the house market there is ludicrous as well.
 
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[TW]Fox;27790838 said:
It's crap, you can only invest 200 quid a month.
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Agree

If you plan on saving £200 a month and buy a house in 5 years time, then you get a nice £3000 top up.

For anyone wanting to save a sizeable amount a month and buy a house in 1/2 years, its a couple hundred quid.. and split saving accounts.

Certainly not a kick in the teeth, but not as amazing as it first reads.
 
ChocolateStarfishRammer said:
Agree

If you plan on saving £200 a month and buy a house in 5 years time, then you get a nice £3000 top up.

For anyone wanting to save a sizeable amount a month and buy a house in 1/2 years, its a couple hundred quid.. and split saving accounts.

Certainly not a kick in the teeth, but not as amazing as it first reads.
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If two of you are buying, you can have to savings account, each put the initial 1k in and 200 each per month, it wouldn't take long to get a deposit and free money, especially as the 5% mortgage is meant to carry on till 2017.

I think people are trashing it as it doesn't suit them, for most people however it's a sweet deal.
You can still save more, you just won't get the free money.
 
Do we know if the FTB ISA will use up the same allowance as 'normal' ISAs? Interesting that you only get the bonus when you buy the house, so in theory if you're 'only' capable of saving £200 a month anyway, you may aswell put it in a FTB ISA on the off chance you use the funds to buy a house at the end.
 
platypus said:
I'm still a little confused as to why its ok to use the budget to specifically rescue one sector but not others.
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Are you talking about the tax breaks for North Sea oil? If so the argument would be that they were hit with a windfall tax back in 2011.
 
Sunbed said:
I agree and I think that is what will actually happen.

It seems the environmental impacts concern me less than you, but regardless I think there isn't much scope or public appetite for more big reservoirs in this country any more.
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If you're not particularly concerned about environmental impacts then why not just use the most cost effective method, which is coal?
 
scorza said:
Are you talking about the tax breaks for North Sea oil? If so the argument would be that they were hit with a windfall tax back in 2011.
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And they may more corporation tax (30% vs 21%). And there's a Petroleum Revenue tax for pre 1993 fields.
 
Glaucus said:
If two of you are buying, you can have to savings account, each put the initial 1k in and 200 each per month, it wouldn't take long to get a deposit and free money, especially as the 5% mortgage is meant to carry on till 2017.

I think people are trashing it as it doesn't suit them, for most people however it's a sweet deal.
You can still save more, you just won't get the free money.
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Unfortunately I missed the budget, so I'm a bit behind on the technicalities of this proposal. If you already have over 50% of the funds towards a deposit, what happens if you put a larger chunk of money into this account and save for a lower duration?

For example -

1. Aiming to save £20,000, you already have £15,000;
2. You deposit £15,000 into the new ISA and save for another 12 months;
3. You save more than £200 per month, therefore deposit £200 into the new ISA and the surplus amount (say £300 for arguments sake) into an existing account;
4. I'm assuming you'll essentially get £50 x 12 for free?

:)
 
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Reasonable budget, not the most exciting, but more than happy to vote blue again. I have been both red and blue in my 3 national voting opportunities over the years.

Ed Milliband is a dribbling idiot. Most people I know are so much better off now than they were 5 years ago. The thought of another Labour government with that cretin at the helm is terrifying.

Ed Balls is my local MP and the rag leaflets he sends out are a disgrace. Full of misuse of stats and patronising guff. He also invites locals to tea on a weekday every three months at around 2-3pm at the town hall. No Ed, I won't be attending, as I have A JOB.

This has been the most productive 5 years of my life. I am in a significantly better position financially now than I was 5 years ago.
 
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