Joy MacLean a conveyancer in our Bathgate office has completed one of the first house purchases in Scotland where the purchaser has benefited from the 25% Government Bonus provided by a Help To Buy ISA.
Help To Buy ISA’s are available from a range of banks and building societies. The accounts are available to each first time buyer, not each household. This means that if you are planning to buy with your partner you could receive a government bonus of up to £6,000 towards your first home .
You can save up to £200 per month into your Help To Buy ISA. You can even kickstart your account in the first month with an additional lump sum deposit of £1,200. The minimum government bonus is £400, meaning you will have to save at least £1,600 into your HELP to Buy ISA before you can claim your bonus. The maximum bonus is £3,000 when you save £12,000.
As Drummond Miller are registered to provide legal assistance through the Help to Buy ISA scheme, once our client had found the property she wished to buy, Joy was able to apply for the bonus, drawdown the money and add it to the clients own deposit to complete the purchase.
Talk to us about how we can help you do the same.
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- Call us on 0131 226 5151