New homeowners have received more than £50m from the Government’s Help to Buy ISA scheme – Cambridge Mortgage Broker First Time Buyer Help to Buy
July 10th, 2017
Official HM Treasury statistics confirm that more than 62,000 property completions have been supported by the Help to Buy ISA scheme since it was launched in December 2015.
A number of banks, building societies and credit unions offer the Help to Buy ISA, which allows savers to deposit a maximum £12,000 to receive a 25% government bonus (maximum £3,000).
To date, more than 86,000 bonuses have been paid out by the government, totaling £54m. The average bonus paid is £625.