Kickstart your savings by saving up to £1,200 in the first calendar month in which you fund your account (if for example you fund your account on the 25th October, you have until the 31st October to save up to £1,200).
With a Help to Buy: ISA, the Government will give you a bonus worth 25% of what you have saved when you are ready to buy your first home. You need to have saved at least £1,600 to qualify and the maximum savings that can qualify is £12,000. This money goes towards the completion cost of buying your first home.
Please don't withdraw funds before closing your account and allow up to 5 working days for your acount closure and receipt of your Closing Document, which your conveyancer (or solicitor) will need to claim the bonus from the Government on your behalf. If you've chosen to receive your document via post, please allow up to 10 working days.
Read the full rules of the Help to Buy: ISA scheme.
You can save up to £200 in your Help to Buy: ISA per calendar month.
If you set up a regular payment, known as a standing order, you don't need to think about moving money each month because it will happen automatically. You can easily change or cancel the standing order any time you like and you can choose how often you want to save.
If you use online banking, simply select 'Payments and transfers' from the left hand menu and go to the 'Standing orders' section.
As of the 18th August, the interest rate for our Help to Buy: ISA Account will be reducing. For more information, please read this short summary.
Then why not take our free Digital Financial Health Check. From everyday spending to planning for the future, it’s full of hints and tips to help you get your finances on track.
