Closed to new applicants – Help to Buy: Individual Savings Account (ISA)
- Headline benefits: Saving money into a Help to Buy: ISA, the government will boost your savings by 25%.
- Headline requirements: First time buyer.
Overview of scheme
The Help to Buy ISA closed to new accounts at midnight on 30 November 2019. For those who already opened a Help to Buy ISA (or did so before 30 November 2019), they will be able to continue saving into your account until November 2029 and to claim their 25% government bonus by November 2030.
At Budget 2015, the government announced the Help to Buy: ISA to support people saving up for their first home. First time buyers who choose to save through a Help to Buy: ISA are eligible for a government bonus of up to £3,000.
Enquiries and complaints
If your question/complaint relates to your Help to Buy: ISA Manager, or anything to do with the management of your Help to Buy: ISA account, in the first instance you should contact your ISA Manager directly (your ISA Manager is the bank or building society your account is with).
If your question/complaint relates to the handling of your bonus application, in the first instance you should contact your solicitor or conveyancer directly and they will be able to provide you with further information.
If your question/complaint is about the processing or miscalculation of a bonus payment, in the first instance you should speak with your conveyancer. You can also contact the scheme administrator.
Frequently asked questions
The accounts are available to each first time buyer, not each household.
The Help to Buy ISA closed to new accounts at midnight on 30 November 2019.
To qualify for the government bonus, the property you are buying must:
- be in the UK
- have a purchase price of up to £250,000 (or up to £450,000 in London)
- be the only home you will own
- be where you intend on living
- be purchased with a mortgage
A first time buyer is someone who does not own, and has never owned, a home anywhere in the UK or the world. For a full definition of please see the First Time Buyer Declaration.
Please see the Help to Buy: ISA scheme rules