The Help to Buy
ISA launched on 1 December 2015 and is designed to reward those first time
buyer clients who are working hard to save up for their first home.
First time buyers that choose to save through a Help to Buy ISA will receive a Government bonus to help them make the critical first step onto the housing ladder. The bonus will represent 25% of the amount saved with a minimum of £400 and a maximum of £3,000. The bonus will be calculated and paid only when the client buys their first home. Clients can open their ISA with a maximum amount of £1,000 and can save a maximum of £200 per month.
First time buyers that choose to save through a Help to Buy ISA will receive a Government bonus to help them make the critical first step onto the housing ladder. The bonus will represent 25% of the amount saved with a minimum of £400 and a maximum of £3,000. The bonus will be calculated and paid only when the client buys their first home. Clients can open their ISA with a maximum amount of £1,000 and can save a maximum of £200 per month.
Some key points on
using the Help to Buy ISA are:
Ø
Applicants
must be a first time buyer and never had an interest in any property in the UK
or aboard;
Ø
Maximum
purchase price of £250,000 outside of Greater London (or £450,000 in Greater
London);
Ø
The
Help to Buy: ISA is limited to one per person rather than one per home.
For more information please do not hesitate to contact the team at Ward Williams Financial Services Ltd on 01932 830664 or by email on wwfs@wardwilliams.co.uk.
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