Help to Buy ISA

Boost your spending power by 25%

Saving up for your first home isn’t always easy so the Government has come up with a scheme to help first-time buyers. Saving money into a Help to Buy ISA scheme means for every £200 you save, you’ll receive a Government bonus of £50.

The maximum Government bonus is £3,000, boosting your ISA savings of £12,000 to £15,000. But if there are two of you buying your first home together, you could both start up an individual Help to Buy ISA meaning you will receive £6000.

Can’t wait that long?

Don’t worry; you can still make use of the scheme because you can get paid £400 for locking away £1,600 for just three months. And if two of you are saving that means a bonus of £800 towards your first home even if you’ve begun the house-buying process.

You can also use the Help to Buy ISA with other Government schemes, including the Help to Buy Equity Loan Scheme and shared ownership.

Help to Buy ISA: some key points

  • The scheme will be available from a range of banks and building societies. See for more details.
  • The scheme is available to each first-time buyer, not per household.
  • Save up to £200 a month into your Help to Buy ISA. In the first month, you can deposit a lump sum of up to £1,200.
  • The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy ISA before you can claim your bonus. The maximum Government bonus you can receive is £3,000 – to receive that you need to have saved £12,000.
  • The bonus is paid by the Government directly to your solicitor when the process of handing over deposit and other fees for the house purchase is underway.

Am I eligible?

To qualify for the Help to Buy ISA scheme you must:

  • be 16 years of age or over and be a first-time buyer
  • have a valid National Insurance number and be a UK resident
  • not have another active cash ISA in the same tax year. If you’ve opened a cash ISA this tax year, you can open a Help to Buy ISA but will have to take further steps. See for more details.

To qualify for the Government bonus, the property you’re buying has to:

  • be in the UK and cost up to £250,000, or up to £450,000 if you’re buying in London
  • not be a buy-to-let property, a second home or be rented out after you buy it
  • be bought with a mortgage.
Help to Buy related links
Help to Buy ISA Terms and Conditions

If you apply for Help to Buy ISA scheme you will have to abide by the Scheme Rules set out by the Government and also whichever provider you use. You can get a copy of the Scheme Rules on