Help to Buy ISA

You will qualify for the Help to Buy ISA if you are a first-time buyer aged 16 or over and you have not previously owned a property, or a share of one.

A Help to Buy ISAs can’t be opened jointly, but if you and a partner are saving for a property you can each open your own account.

You can only put the proceeds of your Help to Buy ISA towards a property which costs £250,000 or less, or £450,000 if you are buying in London. You won’t be eligible if you are buying a property costing more than these limits.

Under the scheme, first time buyers can save up to a maximum of £200 a month towards their first home, although you can make an initial contribution of £1,200.00 if you want to. The government will boost your savings by 25% or £50 for every £200. Over a period of 5 years that would add up to a government bonus of £3,000.00.

You’ll receive the government cash bonus when you are ready to buy your home and close down your ISA – the bonus will be transferred straight to your solicitor who will use the funds and your savings as your deposit.

This firm in a part of the scheme and therefore we can carry out the Conveyancing for you subject to terms and conditions.