Easy Access Help to Buy: ISA

Let’s get you on the property ladder. As a first time buyer you can boost your savings with a Government bonus and earn tax free interest as you save for your first home. Don’t miss out on the bonus – the deadline for new applications is 30 November 2019.

FSCS ProtectedWhen you save with Aldermore you have the added peace of mind that comes from knowing your money is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Please bear in mind that any deposits you have above the limit are unlikely to be covered.

Easy Access Help to Buy: ISA

Term
Gross Annual
Interest
Gross Monthly
Interest
AER*
Term
n/a
Gross Annual Interest
2.00%
Gross Monthly Interest
1.98%
AER^
2.00%
Open an Account

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  • You only need £1 to open the account. The maximum you can pay into a Help to Buy: ISA is £1,200 in the first calendar month and £200 per calendar month thereafter
  • You can split your ISA allowance between our Help to Buy: ISA and other Cash ISA products, so that you can use your full allowance. This will be classed as one Cash ISA for the purposes of HMRC reporting
  • The Government will give you a bonus of 25% when you complete on the purchase of your property, provided your Help to Buy: ISA has a balance of at least £1,600. The bonus on £1,600 would be £400. The maximum bonus you could receive is £3,000 if your Help to Buy: ISA has a balance of at least £12,000. Take a look at our calculator to see what Government bonus you could get
  • In addition to the Government bonus, you will also receive interest on our Easy Access Help to Buy: ISA at the variable rate shown above
  • You can open an account, complete identity checks and move your money in minutes
  • You can transfer ISAs from other providers, subject to the maximum deposit amounts shown above. We’ll process the transfer electronically if we can or we’ll provide an ISA Transfer Form for you to complete and return to us
  • You can make unlimited withdrawals without restriction or loss of interest and use your funds as you choose, including towards the deposit for your first home. However the bonus you receive when you complete your purchase will be based on the closing balance of your account

 

There are specific eligibility criteria and rules for the Help to Buy: ISA scheme. Please make sure that you have read these at www.helptobuy.gov.uk/isa, along with our Personal Savings Terms and Conditions and our Help to Buy: ISA Terms and Conditions, and the Easy Access Help to Buy: ISA Summary Box  before you open your account

  • You’ll need to provide us with the sort code and account number of your nominated account. A nominated account is a UK bank or building society account that you can transfer money from and send money to. You must be named as an account holder on this account. All deposits into your Aldermore account must come from your nominated account and any withdrawals out of your Aldermore account (including interest payments) will be sent to your nominated account. Payments to us from any other account will not be accepted and will be returned, except where these are received by transfer from another ISA provider
  • Your annual ISA allowance for the 2019/2020 tax year is £20,000. You can split the allowance across the different ISA types - cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA - or save the whole allowance in one type of ISA (apart from the Lifetime ISA, which has a limit of £4,000)
  • As the Help to Buy: ISA is a Cash ISA, you can’t deposit into a Help to Buy: ISA and another Cash ISA with different ISA providers in the same tax year. You can however deposit into a Help to Buy: ISA and another Cash ISA with the same ISA provider if that provider allows you to split your ISA allowance across multiple ISA products.
  • You can make deposits by Faster Payments, BACS, CHAPS or Standing Order from your nominated UK bank or building society account, or by transfer from other ISA providers
  • Interest will be earned from the date on which we receive your money
  • We only provide cash ISAs. If you are considering encashing a Stocks and Shares ISA, you should consider seeking independent financial advice to ensure this meets your circumstances.
  • If you have already made deposits into a Cash ISA with another provider this tax year, you will need to move the full amount to Aldermore in order to open a Help to Buy: ISA with us. If this amount is more than the maximum first calendar month deposit of £1,200, you can open a Notice Cash ISA or Fixed Rate Cash ISA from our range in addition to the Help to Buy: ISA.
  • ISA flexibility doesn’t apply to the Help to Buy: ISA – any amount withdrawn from a Help to Buy: ISA can only be repaid into this account in accordance with the maximum monthly limit of £200. But you can replace money withdrawn from a Help to Buy: ISA by opening a new Cash ISA product with us at the interest rate available at the time or by paying money into another Cash ISA product already held with us that allows additional deposits. You won’t be eligible to claim a bonus on any money that isn’t held in your Help to Buy: ISA
  • To qualify for the Government bonus, the property you are buying must have a purchase price of up to £250,000 (or up to £450,000 in London). If you are buying a property that exceeds this value, you won’t be eligible for a bonus. This is also the case if you are buying a shared ownership property and your share of the property doesn’t exceed these limits, but the total value of the property does
  • When you close your Help to Buy: ISA we will provide you with closing documents. If you are purchasing your first property, you will need to present these to your eligible conveyancer and instruct them to apply for your Government bonus, providing your account has a balance of at least £1,600. 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
  • The favourable tax treatment depends on your individual circumstances and may be subject to change in the future
  • The interest rate on this account is variable. We’ll write to you  personally if the rate on your account changes
  • There are no fees or charges for standard account services. We may make a charge for any exceptional non-standard services which are made available to you on a discretionary basis

Managing your account with us is simple and straightforward - and we're always on hand to help you if you've any questions. Here's how it works:

  • Once you’ve opened your account with us, we'll send you a Welcome Letter and your Customer ID, which you should usually receive within five business days. When you log in, we'll give you all the information you need to make the most of your new account
  • You can log into your account to view and print a transaction statement at any time and a Summary of Interest will be available in internet banking shortly after the start of each tax year
  • Need to access your money? Simply log in and follow the simple on-screen instructions; it should take less than a minute. However, please remember that under the Scheme Rules, if you wish to make a partial withdrawal you will not be able to claim a bonus on these funds.
  • Want to check your account details and rates? Just login whenever you like
  • Contact us whenever you need to – via our UK-based call centre on 0345 604 2678, by logging into your account and sending us a secure message or by emailing service@aldermoresavings.co.uk. Click here for our opening hours
  • No need to worry about bonus rates dropping off: there are no hidden bonuses or introductory offers - just consistently competitive rates
  • We'll write to you personally if the rate on your account changes

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

The rates we have previously paid on our Easy Access Help to Buy:ISA are shown on our Historic Rates Page.

Latest Rating and Reviews

Easy Access Help to Buy: ISA

Can’t really give a good rating yet

So far it has been okay but I’ve not been able to send any money yet as I can’t log into my account it’s been down for a week now

17th June 2019 Jessiee97
Easy Access Help to Buy: ISA

Dreadfully backwards

Waited 4 weeks for a welcome pack with login details to an account that they had already closed due to inactivity. They expect you to pay into an account you cannot yet view or manage to secure your ISA and do not highlight this fact nowhere near enough. Received half a dozen letters confirming my documents had been received and approved, spoke to Aldermore advisors over the phone all of which failed to mention BY THE WAY you've yet to pay into your account and secure it so by the time you receive you're welcome pack this is all for nothing. They said they could not reopen the account and wanted me go through the whole application process again and send documents etc away again despite explaining the situation...no thanks. I'll take my time and money elsewhere. Overall complete waste of time.

31st May 2019 Nathan92
Easy Access Help to Buy: ISA

Quick and easy

Compared to some of the more established banks Aldermore process was far less bureaucratic and efficient

25th March 2019 Liam21
Easy Access Help to Buy: ISA

Suited me

The website was alright to use. Once I had filled that out communication was good and things seemed to run smoothly. When I phoned the operator was very helpful, knowledgable and polite.

15th August 2016
Easy Access Help to Buy: ISA

Good rates but complex password system

I was attracted to this product by the attractive rates offered by Aldermore for a split ISA as I wanted to put just part of my yearly allowance into a Help To Buy ISA and the rest in a cash ISA. The whole process was easy to set up. My only reservation was that the password system took a bit of thinking about; I appreciate it's all good security but to have a memorable name, place and number each of 8-10 isn't as easy as simple as it could be. Therefore logging on required me to look up various bits of information, as opposed to just being able to quickly log on and check my accounts. It also isn't clear whether I need to send in proof of ID or not, none of my email confirmations mention this.

25th April 2016

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