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Help to Buy ISA

Unfortunatley, you can no longer apply for a Help to Buy ISA. The scheme closed to new applicants on 30 November 2019. If you opened a Help to Buy ISA before this date, you can still save into your account and claim the government bonus until 30 November 2029.

Do you already have a Help to Buy ISA?

You can deposit up to £200 each month into your Help to Buy ISA.

The government will add a 25% bonus to your savings (up to £3,000) when you purchase your first home.

If you are buying with someone who also has a Help to Buy ISA, both of you will receive the 25% bonus.

You can continue to contribute to the ISA until November 2029, and you can claim the 25% bonus until November 2030.

When you purchase your property:

The home must:

  • Have a purchase price of up to £250,000 (or up to £450,000 in London)
  • Be the only home you own
  • Be your intended place of residence

Your solicitor or conveyancer will apply for the additional 25% bonus on your behalf.

You do not have to repay this bonus.


Your SavingsGovernment PaymentTotal
£1,600 (minimum)£400£2,000
£12,000 (maximum)£3,000£15,000

Speak to an expert

Alternatives to the Help to Buy ISA:

  1. Lifetime ISA (LISA): You can save up to £4,000 each year, and the government will add a 25% bonus (up to £1,000 per year). This can be used to buy your first home or for retirement savings. The property must be priced at £450,000 or less.
  2. Shared Ownership: This scheme allows you to buy a share of a property (between 25% and 75%) and pay rent on the remaining share.
    You can increase your share over time through a process known as “staircasing.”
  3. Help to Buy Equity Loan: This scheme is available for new-build properties. The government lends you up to 20% (40% in London) of the cost of your new home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. This scheme has now expired.
  4. First Homes Scheme: This scheme offers homes to first-time buyers at a discount of at least 30% compared to the market price. The discount is passed on to future buyers, ensuring the homes remain affordable.
  5. Shared Equity Schemes: Various local and regional schemes provide equity loans to help with the purchase of a home, similar to the Help to Buy Equity Loan.
  6. Rent to Buy: This scheme allows you to rent a new-build property at a reduced rate for a set period, giving you the opportunity to save for a deposit to buy the home in the future.
  7. First-Time Buyer Mortgages: Many lenders offer specific mortgage deals for first-time buyers, including lower deposit requirements and incentives such as cashback or free legal fees.
  8. Government-Backed Mortgages: These include various schemes where the government guarantees a portion of your mortgage, making it easier to secure a loan with a smaller deposit.

It’s important to research each option and consider seeking advice from a financial advisor to determine which scheme best suits your circumstances.