Final day for Help to Buy Isa applications

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Nearly 260,000 properties have been bought using the Isa, Treasury figures show.

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The product, which has been available since December 2015, allowed potential first-time buyers aged 16 or over to save, with the income free from tax.Nearly 260,000 properties have been bought using the Isa across the UK, Treasury figures show.The data also revealed that 339,747 bonuses have been paid through the scheme, with an average value of £943. The biggest proportion was in the North West of England.

The scheme will officially close to new accounts but account holders can keep on saving until autumn 2029, with bonuses needing to be claimed by 1 December 2030. Rachel Springall, from financial information service Moneyfacts, said that if savers missed out on Help to Buy Isas there was the option of a Lifetime Isas, which also offered a government bonus.

 

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