Whilst the Government Help to Buy Mortgage Guarantee Scheme may have ended on 31 December 2016, there is still time to open a Help to Buy: ISA.
Help to Buy: ISAs are still available to open until 30 November 2019 through a multitude of High Street banks and building societies including Halifax, NatWest, Santander and Barclays.
Provided you are a first time buyer and meet the Government’s criteria and the property price of the property is below £450,000 (in London) or £250,000 for the rest of the country and you are able to save up to £200 a month into the scheme (saving a minimum of £1600) you will qualify for a Government bonus of 25% of the amount you have saved, up to a maximum of £3000.
If you are buying your first home together with another first time buyer, then you can each take out a Help to Buy: ISA and pledged the combined savings and bonuses towards the purchase of your first home.
The Lawson West Conveyancing team are experts in all areas of conveyancing transactions including remortgages and Transfers of Equity. We will always use straight forward communication and use legal jargon-free explanations, so you can understand what is happening. Contact Sharon, Louise or Sarah today on 0116 212 1000.
