Saving Scheme for first time buyers
The deal is only available to First Time Buyers over the age of 16 and not available if you have had any interest in a property before. The property must cost £250,000 or less unless buying in London then it is £450,000 or less. You are also unable to open a Help to Buy ISA if you have opened or contributed into a Cash ISA in the same tax year
In the first month you can deposit up to £1,200 and then up to £200 per month thereafter. For every £200 you pay in the government will pay in a further £50.
The maximum which you can receive from the government is £3,000, with you paying in a total of £12,000. The government contribution will only be paid when you purchase a property and if you save a minimum of £1,600, your solicitor will need to apply for this when carrying out the conveyancing work.
Follow the link for more information and open yours today.
A great incentive to save!