Pros and Cons of a Help to Buy ISA
Help to Buy ISAs are designed to help give first-time buyers a leg-up onto the property ladder. Should you be opening one? Take a look at this helpful list of pros and cons compiled by Zoopla to help you decide. The Help to Buy ISA is a special savings account designed to help first-time buyers get on the property ladder. You can save up to £200 a month into the account (with a boosted limit of £1,200 in the first month) and any interest you receive on your cash will be paid tax-free.
When you come to buy a home, the Government will top up your savings with a bonus of 25% – also tax-free. The maximum bonus available is £3,000 which applies to £12,000 savings. There’s a lot more to know about these accounts though, which we’ve set out below in clear pros and cons.
10 pros of the Help to Buy ISA
10 cons of the Help to Buy ISA
Article taken in part from www.zoopla.co.uk and written by Annabel Dixon
Important Information All property sales and the financial advice that surrounds them are as unique as the people engaging in the transaction. It is important to not make a decision without seeking professional advice. If you want to sell your home and are considering redecorating before marketing, speak to one of our Property Professionals to get the best advice for presenting your home for sale before making any investment.