Get Up-to £4k Towards Your First Home !



First-time buyer? Save for a mortgage deposit in a Help to Buy ISA and the state will add 25% on top of what you save...

If you are saving to buy your first home, save money into a Help to Buy: ISA and the Government will boost your savings by 25%. So, for every £200 you save, receive a government bonus of £50.


The deadline to open a government backed Help to Buy ISA is Saturday 30 November. You can open up a account with as little as just £1 and then be eligible for up to a £3,000 deposit bonus, towards your first mortgage!


The accounts are available to each first time buyer, not each household. This means that if you are planning to buy with your partner, for example, you could receive a government bonus of up to £6,000 towards your first home.


The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus. The maximum government bonus you can receive is £3,000 – to receive that, you need to have saved £12,000.


If you have already opened a Help to Buy ISA (or do so before 30 November 2019), you will be able to continue saving into your account until November 2029.


Receive bonus: when you are close to buying your first home, you will need to instruct your solicitor or conveyancer to apply for your government bonus. Once they receive the government bonus, it will be added to the money you are putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction. The bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitor’s, estate agent’s fees or any other indirect costs associated with buying a home.


You need to be a first-time buyer aged 16+ with a valid national insurance (NI) number to apply. If you don't end up using the funds to buy your first home, you can withdraw your money penalty-free, so you don't lose a penny.


The deadline is looming, as stated this is Saturday 30th December, after this date, you can no longer join, so for the sake of just £1, it's worth getting one opened up and if you don't then choose to use it, you have at least got the option to close it down.



You can find out more information on the Help To Buy Government website





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