If you’re a first time buyer, the Budget of 2015 may have brought good news!
The autumn of 2015, will see the introduction of the Help To Buy ISA, specifically for first time buyers wanting to get onto the property market.
The scheme will allow individuals to save up to £200 per month towards their first home and the government will boost this amount by 25%. So for every £200 saved a further £50 will be added up to a maximum of £3,000. On initial opening of the account, there will be an opportunity to contribute a further one off £1,000.00
It is important to note that if you are planning on embarking on this savings plan, you should not open/contribute to an ISA in this new tax year and should instead wait until the Help to Buy ISA becomes available later in the year.
For more information about the Help to Buy ISA visit the Help to Buy ISA page on our website or feel free to get in touch.