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?
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The Help To Buy ISA Scheme is available to first time buyers only.
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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.
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The maximum government bonus you can receive is £3,000.
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The bonus will be paid to your Solicitor on completion of your purchase.
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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?
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You must reside in the UK.
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Your purchase price can be up to £250,000 (or up to £450,000 in London).
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You must be a first time buyer, and not own a property anywhere in the world.
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It must be where you intend on living.
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It must be purchased with a mortgage.