Help to Buy ISA

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Save for your first home tax free (as announced in the Budget 18th March 2015)

Help to Buy ISA Key points

  • Maximum monthly saving £200
  • Total maximum saving £12,000
  • Government bonus 25% (capped at £3,000)
  • Couples can run two ISAs
  • Can be used on properties up to £250,000 in value (£450,000 in London)
  • Each provider will set their own interest rates for Help to Buy ISAs
  • Only one cash ISA a year is allowable, which can be standard ISA or Help to Buy ISA

The Help to Buy ISAs will be run by Banks and Building Societies and are designed to help first time buyers save up a deposit for their first home. You can save a maximum of £200 per month into each ISA for a 4 year period.

The Government Bonus is only paid at the point a first home is purchased.

It is expected the Help to Buy ISA is now available – an initial deposit of £1,000 will be allowed to make up for the gap between the announcement of the scheme and the first Help to Buy ISAs being available.

Help to Buy Equity Loan Scheme Video

Help to buy ISA video

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