News

Launch of Help to buy ISA: First-time buyers can get up to £3,000

The launch of a new kind of ISA for first-time buyers means individuals buying their first property can receive up to £3,000 support from the government. Those eligible can open an ISA with £1000, and consequently add an additional £200 per month (savers can deposit £1200 in their first month by opening their account with £1000 and consequently depositing £200 in that same month).

AMOUNT SAVED               BONUS ADDED


£1,600 (minimum)                   £400                                     
£2,000                                      £500                                       
£3,000                                      £750                                       
£4,000                                      £1,000                                        
£5,000                                      £1,250
£6,000                                      £1,500                                       
£7,000                                      £1,750
£8,000                                      £2,000
£9,000                                      £2,250
£10,000                                    £2,500
£11,000                                    £2,750
£12,000                                    £3,000

Money Saving Expert has created a very handy guide for those thinking of opening an account, you can read this here for more information and answers to FAQ's