ISA subsidy for first time buyers

20th March 2015

In his 2015 Budget, George Osborne has announced a Help to Buy ISA for first-time buyers, which will boost deposit savings by up to £3,000. For every £200 a young buyer saves for a deposit, the Conservative Government will top it up by £50, to help buyers reach the average first-time deposit of £15,000. The ISA will be available in the autumn for a period of 4 years. Once an account is opened, there is no limit on how long the holder can save for. The initial deposit for the account can be up to £1,000, with maximum monthly payments of £200. The accounts are limited to one per person, rather than one per household.

The Daily Telegraph (18/03/15), Page: 3   Financial Times (18/03/15), Page: 13