barclays

Barclays Bank Help to Buy ISA

Description
Help with saving towards your first home.
Min. Deposit
£1
Notice Period
Instant
AER Rate

2.58%

(variable rate)
nationwide

Nationwide Help to Buy: ISA

Description
For first-time buyers - boost your savings towards your first home.
Min. Deposit
£1
Notice Period
Instant
AER Rate

2.50%

(variable rate)
hsbc

HSBC Help to Buy ISA

Description
Bring your first home a step closer with a 25% savings bonus.
Min. Deposit
£1
Notice Period
Instant
AER Rate

2.25%

(variable rate)
lloyds

Lloyds Bank Help to Buy ISA

Description
Save towards your first home tax free. Qualifying first time buyers can get a 25% bonus from the Government's Help to Buy scheme of up to £3,000.
Min. Deposit
£1
Notice Period
Instant
AER Rate

1.50%

(variable rate)

What is a Help to Buy ISA?

This type of ISA is also considered a type of cash ISA but is specifically designed to help first time buyers save for a mortgage deposit and get their foot on the housing ladder.

The UK government operates it as an affordable home ownership scheme and will top up your savings by another 25% (up to a maximum of £3,000) on savings of up to £12,000. If you are buying a property with someone else, they can also open a Help to Buy ISA.

You can use the government ISA calculator to see what bonus you could get.

In order to qualify, there are some eligibility rules including:

  • The purchase price of the property can be up to £250,000 (£450,000 in London)
  • The property must be the only home you own
  • You must live in the property

Your first deposit into your Help to Buy ISA can be up to £1,200. You can then deposit up to £200 a month into the account. Your solicitor will apply the 25% government bonus when you buy the property.

For more information read the UK Government Help to Buy: ISA guide.