150,000 Secure Home Ownership from Help to Buy


More than 150,000 people have bought a home using the Help to Buy Scheme since its launch in 2013.

The mortgage guarantee scheme, which allows lenders to buy a guarantee on mortgage loans, has proved popular with first-time buyers. The Treasury reports that 79% of mortgage completions through the mortgage guarantee scheme were people buying their first home.

Help to Buy ISAs have also provided a boost to those hoping to get on the property ladder. Chancellor George Osborne said that the scheme has already helped 250,000 first-time buyers save for their first property since it was launched in December 2015.

Help to Buy ISA

Help to Buy ISAs allow prospective first-time buyers to save up to £200 per month. A lump sum of £1,000 can be deposited in the first month of setting up an account.

If you have savings between £1,600 and £12,000, the government will provide a 25% bonus (up to £3,000) if you use the funds towards a mortgage deposit. You must be 16 or over and planning to purchase a home to apply for the scheme.

From April 2017, you can transfer your savings from a Help to Buy ISA into a lifetime ISA.

Contact us to talk about your personal finances.

No Comments

Leave a comment

We would love to read your feedback on the above post. Required fields are shown with a *. Your email address will not be published

Allowed HTML tags are <a href="">, <p>, <br>, <i>, <em>, <strong>, <b> and <strike>.

Jacobs Allen is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

Something to shout about

Coronavirus Job Retention Scheme (CJRS) FAQs

The vast majority of questions we have been asked are about the Coronavirus Job Retention Scheme (CJRS). You can view all of our FAQs here.