Glossary · UK
What is Help to Buy ISA?
Government-bonus first-home savings ISA — closed to new accounts since 2019.
Full Definition
Help to Buy ISA was a first-time buyer savings product offering 25% government bonus on up to £12,000 of savings (max £3,000 bonus). Closed to new accounts on 30 November 2019. Existing holders can still save until 30 November 2029 and claim bonus until 1 December 2030. £200/month max contribution (£1,200 first month). Property limit £450,000 in London, £250,000 elsewhere. Replaced by LISA — LISA is generally better for new savers (higher limits, can use for retirement too).
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.