The Help to Buy ISA closed to new accounts at midnight on 30 November 2019. If you have already opened a Help to Buy ISA, you will be able to continue saving into your account until November 2029. You’ll then have until 1 December 2030 to claim the 25% bonus.
If you did not open an account in time, there is a similar scheme available known as the Lifetime ISA. *GUIDE COMING SOON*
The Help To Buy ISA
What is the Help To Buy ISA?
The Help To Buy ISA Scheme is available to first time buyers only.
Save your money into a Help to Buy ISA and the Government will boost your savings by 25%. For example, for every £200 you save, you will receive a government bonus of £50.
The maximum government bonus you can receive is £3,000.
The bonus will be paid to your Solicitor on completion of your purchase.
The bonus funds can only be used towards your completion funds, and not your deposit.
OPEN A HELP TO BUY ISA ACCOUNT
SAVE UP TO £200 A MONTH
RECEIVE UP TO £3,000 BONUS
Choose a Help To Buy ISA from a range of banks and building societies.
You will need to have saved at least £1,600 in your Help To Buy ISA before you can claim the minimum government bonus of £400.
Your Solicitor will apply for your bonus. You must arrange to close your Help To Buy ISA prior to completion.
Who is eligible?
You must reside in the UK.
Your purchase price can be up to £250,000 (or up to £450,000 in London).
You must be a first time buyer, and not own a property anywhere in the world.
It must be where you intend on living.
It must be purchased with a mortgage.