The Help to Buy: ISA Scheme

The Help to Buy: ISA Scheme

A Help to Buy: ISA is a cash ISA designed to help first time buyers take that step onto the property ladder. If you’re saving to buy your first home, you can get a Government bonus of up to £3,000, as well as earning tax free interest on your savings.

Don't miss out... You have until 30 November 2019 to open a Help to Buy: ISA

Here's how it works:

  • You can save up to £200 a month in your Help to Buy: ISA. To kick start your savings, in the first month you can deposit a lump sum of up to £1,200
  • The minimum Government bonus is £400, so you need to have saved at least £1,600 before you can claim your bonus
  • The maximum Government bonus is £3,000, if you’ve saved at least £12,000
  • You have until 30 November 2019 to open an account but you can continue to add money until 30 November 2029 and need to have claimed your bonus by 1 December 2030
  • When you’re close to buying your first home, you’ll need to instruct your solicitor or conveyancer to apply for your Government bonus. The bonus will be added to the money you’re putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction and can't be used for the deposit due at the exchange of contracts
  • In addition to a Government bonus your ISA provider will also pay you interest on your savings

Eligibility:

      • To open a Help to Buy: ISA you need to be 16 or over, have a valid National Insurance number, be a UK resident and be a first time buyer. There’s no upper age limit, as long as you meet these criteria
      • 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’re planning to buy with your partner and they’re also a first time buyer, you can both open a Help to Buy: ISA to receive a Government bonus, giving you up to £6,000 towards your first home

137
days left to open your Help to Buy: ISA
Open your Help to Buy: ISA today so you don’t miss out on the Government’s 25% bonus.

 Help to Buy: ISA Calculator

Use our handy calculator to see how saving a regular monthly amount will help you to reach your deposit target, and how much Government bonus you’ll get with a Help to Buy: ISA.

£1 £1,200
You can save from £1 up to £1,200 in the calendar month that you open your Help to Buy: ISA.
Please enter a valid amount between £1 and £1200. No decimal places allowed.
£0 £200
You can save up to £200 a month in the Help to Buy: ISA.
Please enter a valid amount between £0 and £200. No decimal places allowed.
1 10
Please enter a value between 1 and 10 years.
Here's what you'd get with:
An initial deposit of:
A monthly contribution of:
Saving for:
Your total contribution of:
A Government bonus* of:
Total amount towards your purchase:
* If your total contribution is less than £1,600, no Government bonus is given.
If your total contribution is more than £12,000, the Government bonus is capped at £3,000.
This calculator is designed for illustrative purposes only.
You’ll also receive interest on your Help to Buy: ISA savings at the rate applicable to the account that you open, which isn’t included in the illustration above.

The calculations assume that no withdrawals are made during the term.