It is now over six months since the Government launched the Help to Buy ISA scheme in December 2015, aimed at helping first time buyers get on to the property ladder.
Under the scheme, first time buyers can save for a deposit to buy their first home using dedicated ISAs. The government will provide a bonus payment of 25% of the amount saved, up to a maximum of £3,000.
More information on who is eligible for Help to Buy ISAs and details of the scheme are available in our previous blog.
Don’t miss out!
The Help to Buy ISA scheme is a great opportunity to help first time buyers purchase a house. However the scheme is only available for a limited period and savers will only be able to open a Help to Buy ISA until 30 November 2019. After that date the ISAs will not be available to new savers.
If you opened a Help to Buy ISA before this date then you can keep saving into your account, however a request for the bonus payment must be made by your conveyancer or solicitor no later than 1 December 2030.
How can we help?
Since the Help to Buy ISA came into place in December, Nelsons has been successfully accepted onto the Conveyancing Panel of the Help to Buy ISA Scheme. As a result, we have assisted many first time buyers in completing the purchase of their first property with the aid of this additional bonus payment from the government.
The process of applying for the bonus is quick and easy and the bonus payment will be available within 3-5 working days of making the request.
We offer a full range of legal services to first time buyers looking to purchasing a property, with an expert team who can guide you through the process. Our fees are competitively priced and we aim to provide the highest quality of service to make your home move as smooth as possible.
You can get a conveyancing fee quote online today or alternatively you can contact us or call 0800 024 1976 and we will be happy to assist.