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.
Download our Free First Time Buyers Guide
Recent posts
Budgeting over the Christmas Period
24 days ago
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
Preparing your home to sell in winter
28 days ago
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
UK 2024 Autumn Budget: Housing
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
Talking about money with kids
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
Labour Autumn Budget Predictions: Housing
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Recent research from Halifax has revealed the most sought-after locations for first time buyers in Britain.
The data which was taken from the Halifax House Price Index looked at areas outside of London where those looking to purchase their first property were buying. Despite high property prices and increased rates, these first time buyer hotspots have remained popular.
How can I look after my mental health?
7 Oct 2024
Taking care of your mental health means looking after your emotional, psychological, and social wellbeing. There are several ways we can practice self-care that will help to improve our physical and mental health. This can help to reduce our risk of illness, manage stress, and boost our energy levels!
More information
Trusted by
