We’ve done a quick and simple guide to understanding what Help-to-Buy ISAs are and who can qualify for one.

  • They work by the Government topping up savings by 25%. So, for every £200 saved into the Help-to-Buy ISA, the government will contribute £50.
  • The maximum amount the Government will contribute is £3,000. Therefore, the maximum an individual can save into the ISA is £12,000. There is also a minimum amount of £1,600 that needs to be saved before it would qualify for Government contribution.
  • Help-to-Buy ISAs are available to each first time buyer not each property, so if a couple are purchasing, for example, it possible to get up to £6,000 towards to the deposit.
  • The scheme can be started off with an initial £1,000 deposit, which qualifies for 25% from the Government and then each year there is a maximum allowance of £2,400 (£200 per month) that can be saved.

It’s important to know that the bonus will go straight to the mortgage lender, it doesn’t get added to the money that is built up in the Help-to-Buy ISA and only becomes payable if you make a house purchase.

If you’re a first time buyer looking to get on the property ladder contact our specialist mortgage adviser today and get the ball rolling. Contact us here >

Help-to-Buy ISA not for you? If you’ve already saved your deposit take a look at the mortgages we can arrange for you

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