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Help to Buy: Individual Savings Account (ISA) Scheme Quarterly Statistics

ended 21. August 2024

This morning HM Treasury has published new data on the Help to Buy: Individual Savings Account (ISA). Among other things, it showed that there were 782,299 bonuses paid through the scheme to the end of March 2024, which supported 601,476 property completions. The total value of the bonuses paid for the same period was £998 million which were used to finance properties worth £107 billion in total. The average bonus value was £1276. Any thoughts, send them across ASAP as this story is BREAKING.

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Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
The Help to Buy ISA scheme is now closed to new applicants, with the Lifetime ISA taking over as the way for first-time buyers to boost their deposits. It was a novel idea and a great way to help encourage saving for a deposit, albeit the maximum property purchase price of £250,000 (£450,000 in London) was undoubtedly one of the reasons the take-up in the South has been less than the North. We're big fans of the Lifetime ISA, given the higher bonuses available as well as the £450,000 property purchase limit being available across the UK rather than just London.