62,000 First Time Buyers Helped by Government Savings Scheme

The Help to Buy ISA has enabled thousands of first time buyers get onto the property ladder according to new HMRC figures

Emma Simon 22 June, 2017 | 12:48PM

New figures published by HM Revenue & Customs show that the Government’s Help to Buy ISA has enabled 62,528 first time buyers get onto the property ladder.

This is the number of savers who have used these savings to complete on a property sale, since the scheme was launched in December 2015. The figures cover the period up to the end of March 2017.

The Government will pay a 25% top-up to the funds saved through a Help to Buy ISA – up to a maximum of £3,000. According to HMRC figures, the Government has paid a total of £54 million through these bonus payments.

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About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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