More help for first time buyers announced in budget

March 19, 2015

New measures announced in the budget will help  first-time buyers who save in a help-to-buy Isa to  have their savings boosted with a payment from the government when they decide to buy a property. The bonus will be equal to 25% of their savings, so for every £200 they save, the government will give them £50.

Once savers are ready to buy a home they will withdraw their savings and receive a government bonus of 25 per cent of the total account balance,the bonus is being offered for each person, not each house, so a couple will be able to get up to £6,000 towards their purchase.

The Government bonus can only be put towards a first home located in the UK with a purchase value up to £450,000 in London and up to £250,000 in all other parts of the UK.

It is anticipated that up to 1.2 million people will take advantage of a government bonus from the scheme.The median price of a first time buyer property in the UK is £148,190 with a median deposit of £25,190.

Since the launch of the Help to Buy: mortgage guarantee, 40,079 mortgages have been completed with the support of the scheme.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Annual house price growth halves in September

UK annual house price growth halved to 0.8% in September, from 1.6% in August Northern Ireland remained best performing region, with prices up 5.9% year on year in Q3 2026 East Anglia weakest performing region, with annual decline of 0.7% Terraced properties were the strongest performing property type, with a 1.8% rise, whilst flats remained…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

Homesellers say valuation appointment is key

Nearly nine in 10 home sellers say the valuation appointment is key when choosing an estate agent   The latest research from GetAgent.co.uk has revealed that the valuation appointment remains one of the most influential stages of the home selling journey, with almost nine in 10 sellers saying it played an important role when deciding which…
Read More →
Rightmove logo
Breaking News

London’s rental market bucks the national trend

New analysis from the UK’s largest property platform Rightmove reveals that rental demand in the capital is up 7% in September while Great Britain overall is 2% below last year Rental demand in London had been running around 7% below 2025 levels on average throughout 2026 until the end of August before moving into growth…
Read More →
Breaking News

Higher mortgage rates put buyers in the driving seat

Market conditions vary locally: three in four Scottish homes find a buyer within three months, compared with just three in ten in London   Mortgage rates now average 5.2 per cent, the highest level in three years, adding £150 a month (£1,800 a year) to typical repayments and further cooling buyer demand Homes for sale…
Read More →
Breaking News

Prime London buyer demand cools in Q3

he latest Prime London Demand Index by London lettings and estate agent, Benham and Reeves, reveals that buyer demand across London’s core prime property market cooled during the third quarter of 2026, falling by -1.3% on a quarterly basis. However, a number of central London markets bucked the wider trend, with demand across the super-prime sector…
Read More →
Breaking News

Breaking Property News 30/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X. SaaS traditionally sells access, AI sells outcomes Thought Leadership by Author Andrew Stanton CEO Proptech-PR For twenty years, one of the safest assumptions in property technology has been that software companies will become increasingly important. A property business identifies an inefficient process, a proptech company…
Read More →