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Author Archive: Sally Groom

Help to Buy ISA, will it work?

Posted by on March 23rd 2015 in Blog Posts

Help to Buy ISA, will it work?

Announced in the 2015 Budget a saving scheme to help first time buyers get on the property ladder. Will it work?

On the face of it, it looks a good scheme. A savings account specific to providing a deposit for property purchase with a cash bonus of between £400 and £3,000, dependent upon the amount saved. Savings can commence at the age of 16 which, if maintained until the “post-university/got a job now” years could provide sufficient funds for a modest first home deposit.

However, with a maximum monthly investment of £200, even with the government bonus, this is at least an...