Help to Buy: ISA
Saving for your first home can seem like a difficult task but schemes such as the Help to Buy: ISA can make things easier. For every £200 you save, the government will provide a ‘boost’ of £50.
You can deposit up to £1,200 upon opening your Help to Buy: ISA and up to £200 each month thereafter. Those who choose to save through the scheme will receive a 25% boost from the government, up to a maximum of £3,000, to put towards the purchase of their home.
Your solicitor or conveyancer will need to be instructed, by you, to apply for your government bonus when you are close to buying your first home. Your bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitor’s fees, estate agent’s fees or any other indirect costs associated with buying your home. It must be included with the funds consolidated at the completion stage of the property transaction.
You can use the savings in your Help to Buy: ISA, and subsequent bonus, to purchase any home up to the value of £250,000, with the exception of London, where it can be used on any home up to the value of £450,000.
We are pleased to be part of the government’s Starter Homes initiative, selling a range of new build homes at 20% less their market value. These discounted homes will not exceed £250,000 so young first time buyers can use their Help to Buy: ISA bonuses too.
To learn more about the Help to Buy: ISA, and other ways first time buyers can buy, download our impartial first time buyer guide.
Learn more about the Help to Buy: ISA, and other ways first time buyers can buy a new home.
Download our first time buyer guide
I would like to benefit from news updates from Redrow about any events or special offers.*