This is a freeview guide to Help to Buy ISAs.

The 'Help to Buy ISA' was launched on 1st December 2015. It is a new account aimed at helping first-time buyers to save up for the deposit on their home. It closed to new applicants in 2019.

An Individual Savings Account (ISA) is a tax-free savings account: people may save up to their ISA limit each year. The difference between a Help to Buy ISA and other cash ISAs is that with Help to Buy the government pays savers a bonus of 25% of the account balance when it is closed and the funds may be used to buy a home.

It was announced by the Chancellor in his March 2015 budget. Accounts closed to new applicants on 30 November 2019. Most high-street banks offered the account.

Main features

See HMRC's factsheet Help to Buy: ISA factsheet.

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