Q&As

What is the definition of a ‘First Time Buyer’ for the purposes of the help to buy ISA?

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Published by a LexisNexis Private Client expert
Published on: 06 August 2018
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Help to buy ISAs were introduced from Autumn 2015 as a tax-free cash account aimed at encouraging first-time buyers to save for a UK residential property. As well as receiving interest on the balance tax-free, the government will supplement the amount saved with a 25% bonus (up to a maximum of £3,000) when the property is purchased.

To qualify, first the individual must be a qualifying individual as defined by Individual Savings Account Regulations 1998, SI 1998/1870,

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United Kingdom

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