Monday, 14 December 2015

Help to buy ISA - 3000 pounds bonus.

I know the general trend is to rent instead of buy. Or maybe i am wrong. But here is something good, if you are decided to do it. The new Help to buy ISA is good to go.
What you need to know:
-You can only have one ISA on your name.
-If you chose Help to Buy you cannot have another cash ISA
-You can put 200 pounds each month, and you will get 50 from Government, but anything more than this will not increase the 50 bonus.
-You can get maximum 3000, meaning 60 months (5 years) x 200/month.
-Some companies like for example Virgin, give 3% interest, so that is 25%+3%=28% on your money. Seems good enough for me. Halifax give 4%. Probably more offers will come soon.

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