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Help To Buy: ISA
Help To Buy: ISA
The Help To Buy: ISA is a savings account that enables first time buyers to have their savings for their first-time home topped up by a 25% Government bonus. The accounts closed to new customers on 30th November 2019, but if you have a Help To Buy: ISA with another provider, you can still transfer it to Progressive. The government bonus is available on account balances between £1,600 and £12,000 and the maximum bonus payable by the Government is £3,000.
I currently have a Help To Buy: ISA with Progressive
If you currently have your Help To Buy: ISA with Progressive, see the account information and bonus rules below:
- A Help To Buy: ISA is a specific type of Cash ISA which is only available to people who are looking to purchase their first home.
- If you save into a Help To Buy: ISA, the government will boost your savings by 25%. The bonus must be used as part of your deposit for your first home purchase.
- You must have saved at least £1,600 into your account before you are eligible to claim your bonus. The minimum bonus is £400 and the maximum government bonus you can receive is £3,000, which is payable if you save £12,000.
- If you are buying your first home with another person, you can each open a Help To Buy: ISA and can both claim a bonus.
- If you are a first-time buyer purchasing a home with someone who already owns their own home, you can still save into a Help To Buy: ISA and claim your bonus towards your deposit.
- If you need to reference the Summary Box, Account terms & conditions for the account, you can find them here.
- Help To Buy: ISAs were closed to new applicants on 30th November 2019.
- If you have a Help To Buy: ISA with Progressive, you could be eligible for £750 cashback per applicant on your first-time buyer mortgage, if you decide to borrow from us when purchasing your first home in Northern Ireland. Find out more here.
- Got a Question? Read our Q&A here for more information.
I currently have a Help To Buy: ISA with another bank or building Society
You can transfer your Help To Buy: ISA to Progressive from another provider. As you can only have one Help To Buy: ISA open at any time, the whole balance must be transferred, and the account closed.
Simply pop into your local branch to transfer your Help To Buy: ISA. Make sure you read the account Summary Box, and Account terms & conditions here first.
Why transfer to Progressive? If you have a Help To Buy: ISA with Progressive, you could be eligible for £750 cashback per applicant on your first-time buyer mortgage, if you decide to borrow from us when purchasing your first home in Northern Ireland. To be eligible for this cashback, simply transfer your Help To Buy: ISA to Progressive.
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