Planning on becoming a First-time buyer next year? Save for a mortgage deposit in a Help-To-Buy ISA and the Government will add 25% on top of what you save.
It’s part of the Government’s latest scheme to encourage people to get on the property market and you’re able to open the ISA by just depositing £1!
The criteria includes; You need to be a first-time buyer, aged 16+ with a valid national insurance number.
You can save up to £1,200 in the first month of opening your account followed by a maximum of £200 a month. If you’ve got less, you can put in less and still remain part of the scheme for as long as it lasts.
At the point when you’re about to buy your first home, all the money added to your ISA will have 25% added by the Government – Up to £15,000.
Nazim, Branch Manager at Click Estate Agents, said; “This is a great initiative to encourage people to get started on the property ladder.”
“Many people struggle with getting on the property ladder, so saving money in a Help To Buy ISA is a great way of helping people”.
“If you don’t end up using the money to buy your first home, you can withdraw the money without any penalties”.
If you’re interested in opening a Help To Buy ISA, the deadline is this Saturday – November 30th. More information about the Help-To-Buy ISA can be found by clicking here.