Boost your savings with a Help to Buy ISA

Mon 8th Feb 2016

Coodes is registered as a member of the Government’s new Help to Buy ISA scheme. Jane Stewart, Chartered Legal Executive in the Residential Property team, explains how you can access it as a Coodes client.

“If you are saving to buy your first home, the Government will now boost your savings by 25% if you save money into a Help to Buy ISA. The Help to Buy ISA became available in December 2015 and is offered by a range of banks and building societies. The ISAs are available to each individual, not each household, so if you are buying with someone else you can both open accounts. The only qualifying criteria is that you are a first time buyer.

“You can save up to £200 per month although, to kick start the account, you are able to deposit a lump sum of £1,200. The minimum Government bonus is £400, which means you need to have saved £1,600 before you can claim your bonus. The maximum Government bonus is £3,000. Savers can cash in their bonus from February 2016.

“Coodes is registered as a scheme member and we are pleased to be able to apply for the bonus on behalf of clients. We will make the application for the bonus on your behalf and confirm your eligibility to receive the bonus and that the property being purchased meets the eligibility criteria. This involves us submitting the relevant documentation including a payment request and applying the bonus funds towards completion of the purchase of the property.

“We understand how difficult it can be for first time buyers to save for a deposit, so are very pleased to be able to offer this new service.”

For more information on Help to Buy ISAs or for any conveyancing assistance, please contact Jane Stewart on 01872 246200 or email jane.stewart@coodes.co.uk

Mon 8th Feb 2016

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