Help to Buy ISA providers

Help to Buy ISA providers

*UPDATE: New applicants are now barred from the Help to Buy program. There are still other options available for first-time buyers. Please refer to our guide for more details.

Compare Help To buy ISA providers

If you are a first-time purchaser who is interested in purchasing a home within the next few years, then you have probably heard of Help To Buy ISAs. You want to find out which one is right for you. Because there are so many banks and lenders that offer Help to Buy ISAs we get a lot more enquiries about them.

Even if your goal is to buy your first home in the future, you might consider opening a Help to Buy ISA account and starting to save for the next 5-10 years to take advantage of the government bonus.

The Help to Buy ISA bonus for first-time buyers will expire in 2030. To take advantage of it, you must open your account before 30 November 2019. It doesn’t matter what provider you choose, it is the same.

Use our online mortgage calculator as a guide for your monthly repayments now

Are all Help to Buy ISA providers the same?

Many providers offer a variety of Help to Buy ISA accounts. The main benefit of an account is to save tax-free in the right account and receive a 25% government bonus to help you buy your first home. However, there are some other benefits. These include:

• Some Help to Buy ISA providers won’t accept the entire initial PS1,200 lump-sum deposit.
• Other providers offer higher interest rates to existing customers who have a specific bank account.
• You can withdraw from the Help to Buy ISA account and receive your interest and tax benefits for future deposits.
• Splitting ISA accounts is not available from all providers. This allows you to save tax and utilise the tax-free benefits of a cash ISA or a Help To Buy ISA.
• Different providers may have different rules about when and how you can withdraw money from your account.
• You may not be able to open a Help to Buy ISA account if you are located in a particular area or have specific postcodes.
• Some providers of Help to Buy ISAs may not allow you to transfer to or out of their accounts.

Where can I find an help to buy ISA?

Most of the top-rated high street banks and lenders can help you open an ISA account for Help to Buy. Regional building societies, credit unions and some other providers can also offer Help to Buy ISAs.

As you can see, there are many benefits and rules that differ between providers. It is important to do your research and determine which Help to Buy ISA account will work best for you.

This information can be easily gathered by speaking with a Help to Buy ISA specialist who is familiar with the interest rates and benefits of each account, including the ones we use.

You may be able to get a Help-to-Buy ISA from a provider that you have never heard of, which will give you a higher rate of interest and other benefits that are tailored to your needs.

How do you find the best Help to Buy ISA bank accounts?

It can be difficult to find the right Help to Buy ISA provider. You may be confused by some terms used by lenders and banks when you are a first-time buyer.

You should also be aware that while Help to Buy ISA providers may advertise a specific rate of interest or a range of benefits, these might only be available if your criteria are met. This information might not be as clear as the information you have found.

You won’t be able to access the entire market as a consumer, even though you may be willing to spend some time researching the various Help to Buy ISA providers. This could mean that you might miss out on the best Help to Buy ISA accounts. Some deals can only be obtained if a broker applies on your behalf.

The fastest and most efficient way to find the best Help To Buy ISA bank account for you is to talk with a Help To Buy ISA advisor. We work with many of them. You won’t be disappointed by the account that’s right for you. They are experts and have access to all Help to Buy ISA markets.

Which are the best Help to Buy ISA Providers?

What banks offer the best Help-to-Buy ISA? It all depends on a few details like which accounts you are eligible for, what your needs are, and where you live. It is helpful to review details like the interest rate you can earn, and the flexibility of the Help to Buy ISA.

As of April 2019, Help to Buy ISA accounts could generate interest at a rate between 2.5% to 3%. However, this rate can change at any moment. These banks offer a Help To Buy ISA at this rate:

• Barclays Help to Buy ISA
• Nationwide Help to Buy ISA
• NatWest Help to Buy ISA
• Virgin Money Help to Buy ISA

A Building Society may offer a better interest rate to first-time buyers who reside in specific areas or postcodes.

These include:

• Darlington Building Society: Help to Buy ISA
• Penrith Building Society: Help to Buy ISA
• Newcastle Building Society Help to Buy ISA
• Vernon Building Society: Help to Buy ISA
• Buckinghamshire Helps to Buy ISA

We’ve mentioned that the interest rates on Help to Buy ISA accounts are subject to change. It is important to speak with each provider individually or with one of our expert advisors who can help you find out the rates available from all providers.

When you are considering opening a Help to Buy ISA, you need to look beyond the interest rates. We will also share other helpful elements currently available in the Help to Buy ISA account.

It’s always a good idea to talk with one of our expert Help to Buy ISA advisors to see if there are any other options.

Halifax Help to Buy ISA

Halifax offers a Help To Buy ISA to first-time buyers. This is available to both new and existing customers. There is no preferential treatment for customers who have an account with Halifax. Although the interest rate is not the highest, it is comparable to other providers. However, this can change and they only allow a maximum of PS1,000 for initial deposits.

First-time buyers who have saved with a Halifax Help to Buy ISA may be able to withdraw. You can also open and manage the account in a variety of ways. The bank and government rules permit you to transfer funds from another Help to Buy ISA into your Halifax account.

Barclays Help to Buy ISA

The current rate of interest for the Help to Buy ISA at Barclays Bank is a great one, but this is subject to change. Existing Barclays account holders will be able to open a Help To Buy ISA online. Those who do not have a Barclays Bank account will need to call the branch or make a visit.

The bank allows transfers into a Barclays Help to Buy ISA to receive the government bonus. However, these transfers are not allowed immediately and are subject to additional rules.

We can help you to find the best Help to Buy ISA for you. Contact us to learn more.

Nationwide Help to Buy ISA

Nationwide also offers a Help to Buy ISA account. This allows first-time buyers to save tax and earn a good rate of interest. However, this is subject to change. You will also get a government bonus when buying a home. You can open it with a minimum deposit of PS1 and a maximum deposit limit of PS1200. Transferring from an existing Help to Buy ISA is possible, but you must transfer the entire balance.

While withdrawals are allowed, there are some rules. Split ISAs are also allowed by Nationwide, but there are restrictions on how much you can deposit into both the Cash Help to Buy ISA as well as your other ISA accounts.

Santander Help to Buy ISA

Santander’s Help to Buy ISA account is an alternative to saving money for your first home. Santander account holders with Santander 123 will be eligible for a higher rate of interest than those without accounts, but this rate is subject to change.

Transfer your existing Help to Buy ISAs and other cash ISAs to the Santander account. You will need to make the required minimum and maximum opening deposits of either PS1 or PS1,200. The rules also list other details. However, to make sure it’s the right account for your needs, an experienced Help to Buy ISA advisor can help you quickly compare it to other accounts.

NatWest Help to Buy ISA

The Natwest Help to Buy ISA provides similar benefits to those we have already mentioned. While the current interest rate on the account is good, it is subject to change. The Help to Buy ISA account from NatWest will allow first-time buyers to receive the Government bonus, but it may have restrictions that make it not the best option for you.

NatWest also offers a split ISA. This allows you to save into both a cash ISA or a Help To Buy ISA. However, there may be other accounts that are more appropriate depending on the rules.

A qualified advisor can help you make sure that you get the correct Help to Buy ISA application. This will prevent you from having too many credit searches, which can negatively impact your credit rating.

Virgin Money Help to Buy ISAs

Virgin Money Help to Buy ISA pays a competitive rate to first-time buyers to help them save for their first home. This rate is subject to change, and the bank will inform you if this is true.

Virgin Money’s benefits are comparable to other open-to all Help to Buy ISAs.

A Help to Buy ISA expert can help you determine if this account is right for you or if there are other options that could be more flexible and help you save money to buy a house faster.

You may be able to get broker-only deals that provide you with more benefits.

Ulster Bank Helps You Buy an ISA

Ulster Bank offers a Help To Buy ISA to first-time buyers. It currently offers a competitive rate of interest. Split ISAs are also available at the bank, which allows you to access your entire ISA savings limit. The account’s other details are fairly standard, such as the minimum and maximum opening deposits, and the withdrawal rules.

HSBC Helps to Buy ISA

HSBC’s Help to Buy ISA allows first-time buyers to save money to purchase a home. They also get a 25% bonus from the government up to a maximum £3,000. The interest rate on this account is not the best. However, there are other benefits to the account such as flexibility and openness to all. This could make it work well for you.

Splitting an ISA is possible. However, a transfer in/out is subject to HSBC’s Help to Buy ISA Scheme rules.

Lloyds Help to Buy ISA

The Help to Buy ISA account from Lloyds offers a lot of benefits for first-time homebuyers. The rate of interest is not the highest available on the market at the time of writing and there are no obvious levels of flexibility. Transfers into and out of the Lloyds account may be possible. However, you will not be able to withdraw from the Help to Buy ISA. You’ll also lose the tax-free savings.

It might be worth talking to an experienced Help to Buy ISA advisor if you are a Lloyds customer and want to open your Help to Buy ISA. They will help you to compare the benefits and choose the right account for you.

Bank of Scotland helps to buy an ISA

The Bank of Scotland’s Help to Buy ISA is similar to the accounts above for first-time buyers. The interest rate is not the highest at the time of writing and the benefits you might expect, such as withdrawal, deposit, and transfer rules, aren’t that different from other accounts.

Yorkshire Building Society: Help to Buy ISA

Their account may be suitable for first-time buyers who are interested in opening a Help to Buy ISA at the Yorkshire Building Society. The interest rate at the time of writing is not too high, but it can change. You’d expect the same benefits. There is still the possibility to benefit from a mortgage if you are ready to cash your Help to BuyISA, claim your government bonus, and purchase your first home.

Although the Yorkshire bank’s regulations and rules will be strict, a good Help To Buy ISA advisor and first-time buyer mortgage advisor may know of other options that might be more advantageous to you.

The following lenders offer a Help to Buy ISA account:

• Clydesdale BankHelp to Buy ISA
• Cumberland Building Society: Help to Buy ISA
• Aldermore Helps to Buy ISA
• Newcastle Building Society Help to Buy ISA
• Progressive Help to Buy ISA
• Penrith Building Society: Help to Buy ISA
• Darlington Building Society: Help to Buy ISA
• Buckinghamshire Building Society: Help to Buy ISA
• Tipton and Coseley building society help to buy an ISA
• Chelsea Building Society Help to Buy ISA
• Cumberland Building Society: Help to Buy ISA
• Monmouthshire Building Society: Help to Buy ISA

The following banks don’t currently offer a Help To Buy ISA:

• TSB
• Royal Bank of Scotland (RBS).
• Post Office
• Coventry Building Society
• Bank of Ireland
• Metro Bank
• Skipton
• Danske Bank
• Principality Building Society

If you have a sister bank to the banks mentioned above, you might be able to get a Help to Buy ISA account for a first-time buyer. This will allow you to withdraw, transfer, and earn interest at the rates you want. You may be able to save money by opening a Lifetime ISA Account.

Talk to a Help To Buy ISA provider expert right away!

An advisor can help you to find the right provider and products to suit your needs if you are a first-time buyer looking for the best Help to Buy ISA.

Our mortgage advisor team will put you in touch with the Help to Buy ISA advisors from our specialist experts. The advisors will provide more information on how to proceed with your remortgage.

Call today to speak with an advisor or submit an enquiry here.

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