As part of the Government’s stated policy of helping first time buyers into the housing market, a new initiative is launched at the end of this month.
From December 1st 2015 first time buyers can take advantage of the new Help to Buy ISA Scheme which gives every individual a cash boost towards the deposit on their first home.
Savers will receive the tax benefits of the ISA coupled with a government-backed bonus meaning you could receive up to 25% on your savings pot. For example, if you can save the maximum £200 per month, you will receive the maximum bonus of 25% (£600 per annum). There’s no limit on how much or how long you can save for although bonus’ are capped at £3,000 per person.
If already cohabiting, a couple could save in two qualifying ISAs and receive double the benefit!
Bonus’ are paid when you buy your first home and the maximum capital value of new home will be £450,000 in London and £250,000 outside London.
For more information contact us or to speak to a mortgage adviser on 01628 507477.
Click here to read the Government's Help to Buy ISA Scheme.
The chancellor has advised that landlords could have another tax to pay this autumn as the Treasury decide whether to extend national insurance contributions to rental income.
According to a report in the Guardian, senior ministers have asked Treasury officials to look into a “proportional” property tax to see how it would work as an alternative to the existing stamp duty land tax on owner-occupied homes.
More than a quarter of UK adults in long-term relationships (26%) have reported that despite living together, they keep their finances separate from one another.
There has been a rise in both rent and mortgage costs over the last three years, with renters seeing a greater increase in their monthly payments than those with a mortgaged property.
23 days ago
The new Delayed Start Mortgage launched by Skipton Building Society allows first time buyers to postpone the first three mortgage payments. This product has been designed to help soften the blow of moving in costs for first time buyers.
25 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
25 Jul 2025
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.