Count down begins: Only one month to go.
Launched by the Chancellor at the March 2015 Budget, the Help to Buy: ISA is part of the government’s long term plan to help support First Time Buyers save up for a deposit and buy their own home.
FTB’s can save up to £200 a month towards their first home with a Help to Buy ISA. The government will boost the savings by 25% up to a maximum of £3,000. Couples buying together are able to combine their bonuses and retrieve a maximum of £6,000 towards a deposit.
The scheme will launch on 1 December 2015.
The government has now confirmed the process that first time buyers need to follow to participate in the government bonus from the Help to Buy ISA, read more details here.
Help to Buy ISA’s will be available from Barclays, Lloyds Banking Group, Nationwide, NatWest, Santander, and Virgin Money from 1 December 2015.