Back to top

Help to Buy ISA deadline approaches

First time buyers in Wirral are being reminded that if they want to take advantage of the Help to Buy ISA scheme, their days to do so are numbered.

In just a couple of days the Help to Buy Isa, a government-backed savings initiative for first-time buyers, will close to new savers for good.

As of Saturday 30th November, Help to Buy ISAs will no longer be available to new applicants, meaning that Wirral residents must act fast if they want to open one.

The scheme, which pays a 25% bonus to help people get on the property ladder, is open to UK residents over the age of 16.

Opening a Help to Buy ISA allows prospective homeowners to save up to £12,000 over a set period of time - meaning that people with a Help to Buy ISA could potentially receive a £3,000 bonus when they come to buy their first home.

In Wirral you can use your Help to Buy ISA to purchase a home worth a maximum of £250,000 and if you're buying with another Help to Buy ISA holder you can pool your bonuses. And you have a while to build up some savings as you must claim your government bonus by 1st December 2030.

Unsure about setting one up? 30th November is the deadline for applications and you can put a minimum of £1 into your account to get started, so there's nothing to lose if you're not sure of your property plans just yet.

For more information on how to set up a Help to Buy ISA before the 30th November deadline, visit: www.moneysavingexpert.com/help-to-buy