Are you a first-time buyer?  Do you have children over 16?  Then this is your last chance to save for a mortgage deposit using the Help to Buy ISA.

The deadline to open a Help to Buy ISA is Saturday 30th November.

You can open it with just £1 and the state will add 25% on top of what you save up to £3,000 towards your first mortgage deposit.

You need to be a first time buyer aged 16+ with a valid national insurance number.

If you don’t end up using it to buy your first home, you can withdraw your money penalty free.

  • You can save up to £1,200 in your first month, then subsequently up to £200 per month
  • It is an individual product
  • It can be used for any property costing up to £250k or £450k in London and any mortgage
  • You can rent out your property if you’ve used a Help to Buy ISA as part of the deposit
  • You can only open one Help to Buy ISA but you can transfer it to up the rate
  • You can only use the bonus to help with your mortgage deposit, not the exchange deposit
  • If you take the money out without using it for a deposit, you won’t receive the bonus

Please do your research to find the best deal for yourself – but check as different providers will have different deadlines for online, phone and in-branch and you may have to make an appointment.

We strongly advise you to seek appropriate advice before taking action on any of the points listed above.

All information contained in this document are correct at the time of writing.  Legislation and regulations may change at any time.

If you are in any doubt, please call us for clarification.
About us:  Leggate Associates Limited was formed by Andrew Leggate LL.B FCMA FCA CGMA who has over 35 years of tax and accountancy experience in industry and practice, and the practice is managed by Joanne Leggate FMAAT ATT.  Our clients range from building subcontractors to multi-million pound concerns and high net worth individuals all over the UK.  Please see our website  or follow @LeggateAssoc on Twitter for occasional updates.
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