Book a Property Valuation

Are Help to Buy ISA's beneficial

Are Help to Buy ISA's beneficial

Economy news GPEA 27th September 2016

Saving up to buy your first home can be a challenge, but assistance is at hand in the form of the Government Help to Buy ISA.

This initiative allows a First-Time Buyer to deposit an initial £1,000, followed by £200 a month. When they decide to buy, the Government will provide a 25% bonus up to a maximum of £3,000. This means savings of £12,000 will be boosted to £15,000.

There has been some recent criticism over when the bonus can be claimed. The bonus is only available on completion rather than at exchange of contracts, when the deposit is normally paid.

Purchases can go ahead however without the need to pay the typical 10% deposit at exchange. 

The best way to avoid issues further down the line is to make sure that the solicitor is aware from the outset that a Help to Buy ISA is being used.  

First Time Buyers should certainly not be put off using a Help to Buy ISA to get their foot on the ladder. At the moment interest rates are better than on most standard savings accounts, and that 25% bonus will provide a much needed boost.

Each person can have one of these ISA’s, so those buying jointly could bump up their deposit fund significantly, and get a foot on the first rung of the property ladder a little quicker.


Pwy ydym ni?

Mae Williams & Goodwin The Property People yn aelodau o’r Gymdeithas Gweithwyr Eiddo Proffesiynol, Cymdeithas Genedlaethol y Gwerthwyr Tai, y Gymdeithas Asiantwyr Gosod Preswyl a Chymdeithas Genedlaethol y Priswyr a’r Arwerthwyr. Rydym hefyd yn Syrfewyr Prisio Siartredig ac yn aelod o Rwydwaith Cenedlaethol o tua 800 o Asiantau Tai annibynnol.

Mwy amdanom ni






Cyfieithwyd y wefan hon gan Bla Translation Ltd
mail@bla-translation.co.uk
www.bla-translation.co.uk

Cysylltu â ni

Eisiau gwybod mwy am Williams & Goodwin a’r gwasanaethau rydym yn eu cynnig, ffoniwch neu anfonwch e-bost atom heddiw.

Caernarfon - 01286 677 775
Bangor - 01248 355 333
Llangefni - 01248 751 000
Holyhead - 01407 760 500
Property Management - 01248 72 40 40
All Wales Auction - 01248 75 39 39

Cliciwch ymai weld manylion llawn ein swyddfeydd


 
 
 
©2020 Williams & Goodwin The Property People Cymru. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Members Login
Registered in England & Wales. 

Check mortgage eligibility online