If you are about to make the jump on the property marker for the first time you should consider opening a Help to Buy: ISA. The benefit is that as long as your purchase doesn't take place within the next 4 months then you can claim a bonus of at least #400 towards the purchase of your new home.

The Help to Buy: ISA is available from a range of banks, building societies and credit unions. The accounts are available to each first time buyer. This means that if you are planning to buy with your partner, for example, you could receive a government bonus of up to £6,000 towards your first home. You can save up to £200 a month into your Help to Buy: ISA. To kickstart your account, in your first month, you can deposit a lump sum of up to £1,200.

The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy: ISA before you can claim your bonus. The maximum government bonus you can receive is £3,000 – to receive that, you need to have saved £12,000.

When it comes to buying your new home just let us know you are using a Help to Buy: ISA and we will guide you through the process of obtaining the government bonus. The good news is the fee is fixed at #50 + VAT and with the minimum Bonus being #400 a Help to Buy: ISA is a perfect way of making the purchase of your first home even more affordable.

John Fox is an expert in residential conveyancing and if you have any queries on buying or selling property you can contact John on 028 8225 7722 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information on help to buy: ISA’s you can visit https://www.helptobuy.gov.uk.

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