Martin Lewis is urging all potential house buyers to open a Help To Buy ISA in the next few months or risk missing out on government help of up to £3,000 towards their first home.

A variety of high street banks and lenders offer the specialised savings account that offers the benefit of a government-funded top-up of 25 per cent towards a house purchase.

Help To Buy ISAs were launched by the Cameron government in 2015 to help first-time buyers get on the first rung of the property ladder, but they are being dropped on 30 November in favour of a new Liftime ISA (LISA).

Lewis, the journalist behind the popular MoneySavingExpert website, recommends all potential first time buyers snap up a Help To Buy ISA before November even if they they may not be looking to buy for a few years. Accounts can be opened from as little as £1 online in branch, online, or within the apps from various high street banks.

The maximum you can open your account with is £1,200 and you are limited to adding £200 per month. Once you have saved a minimum of £1,400, the 25 per cent government subsidy will be available, boosting the figure by £350. The maximum the government will add is £3,000, on savings over £12,000, and the offer will be available to all first-time buyers until 30 November 2029.

On the MSE website, Martin wrote: “If you think you’ll need these but aren’t sure, just open them.

“You need £1 in a Help To Buy ISA by November 30 or you lose the opportunity.”


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