Answers · UK 2025/26
What is a Help to Buy ISA?
The Help to Buy ISA closed to new applicants in November 2019. Existing account holders can continue saving until November 2029 and claim a 25% government bonus (maximum £3,000) when buying their first home.
Full answer
The Help to Buy ISA was a government scheme designed to help first-time buyers save a deposit, offering a 25% bonus on savings. New accounts can no longer be opened, but existing holders have several important rules to understand. **Key rules for existing holders:** - **Contribution limit:** Up to £200 per month (£1,200 in the first month the account was opened). - **Minimum balance to claim bonus:** £1,600 saves → bonus of £400. - **Maximum bonus:** £3,000 (requires £12,000 savings). - **Account closure deadline:** Accounts must be closed by **30 November 2029**. - **Claim deadline:** Bonus must be claimed by **1 December 2030**. **How the bonus is claimed:** The 25% bonus is claimed through your conveyancing solicitor at **completion** (not exchange). Your solicitor submits the claim to the scheme administrator; you cannot claim it yourself or use it for the exchange deposit. **Property eligibility:** - Maximum property value: **£250,000** (£450,000 in London). - Must be your only home and your main residence. - Cannot be used for buy-to-let or second properties. **Help to Buy ISA vs Lifetime ISA (LISA):** | Feature | Help to Buy ISA | LISA | |---|---|---| | Bonus rate | 25% | 25% | | Max property value | £250k (£450k London) | £450k | | Max bonus | £3,000 lifetime | £1,000/year | | Retirement use | No | Yes (age 60+) | | Open to new applicants | No | Yes (age 18–39) | If you hold both a Help to Buy ISA and a LISA, you can only use one government bonus toward a property purchase.
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This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.