The UK Government’s Help-to-Buy ISA scheme has proven popular enough to encourage over 1 million potential first-time-buyers to open an account and begin saving for their first home. The latest Government figures show some £1.8 million has been saved so far in these accounts.
In the governments most recent budget the chancellor announced plans for a new Lifetime ISA which will become available by April 2017. The lifetime ISA is not for everyone, there are some very clear caveats, only being able to be used to buy your first home or saving for retirement.
With the cost of buying a property ever-increasing, the government have set about a new way of helping first time buyers onto the property ladder.