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.

Key actions

Calculate bonus

Overview of schemePart of the Help to Buy 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

If you have specific questions relating to your Help to Buy: ISA account, you should contact your bank, building society, or credit union providing the account.

If your question relates to an application for your government bonus, your solicitor or conveyancer will be able to provide you with further information.

If you are a solicitor or conveyancer who is managing Help to Buy: ISA applications, please visit the Help to Buy: ISA conveyancers website with information on how to join the scheme and how to apply for a bonus on behalf of your client.

Complaints

Depending on the difficulties you are having, there are different options for making an enquiry or raising a complaint.

If your enquiry or complaint is about your Help to Buy: ISA provider, or anything to do with the management of your account:

  • In the first instance, you should enquire or complain directly to your ISA provider
  • If you are not satisfied with your ISA provider’s response to your complaint, you can contact the Financial Ombudsman Service. You can email them at [email protected] or call them on 0300 123 9123.

If your enquiry or complaint is about your conveyancer, or to do with the handling of your bonus application:

  • In the first instance, you should enquire or complain directly to your conveyancer
  • If you are not satisfied with your conveyancer’s response to your complaint, you can contact the Legal Ombudsman. You can call them on 0300 555 0333 or complain directly via their website.

Please note that you should speak with your conveyancer in the first instance.

If your enquiry or complaint is about the processing or miscalculation of a bonus payment:

Please note that you should speak with your conveyancer in the first instance.

 

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

You can use the Help to Buy: ISA with other government schemes, including the Help to Buy: Equity Loan scheme and Shared Ownership.

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.