First Time Buyers Given a Boost in the Budget | Grace Homes

First Time Buyers Given a Boost in the Budget

In yesterday's budget the Chancellor announced the imminent launch of a new Lifetime ISA. From April 2017 any adult under the age of 40 will be able to use this new Individual Savings Account (ISA) to either save for a home or a pension.

Savers will be able to put in up to £4,000 a year, and will receive an annual bonus of up to £1,000 from the government up to the age of 50.

Any holders of the Help to Buy ISA, which launched last December, will be able to roll up any savings into the Lifetime ISA without losing their tax-free benefits. The current Help to Buy scheme remains unchanged.
In yesterday's budget the Chancellor announced the imminent launch of a new Lifetime ISA. From April 2017 any adult under the age of 40 will be able to use this new Individual Savings Account (ISA) to either save for a home or a pension.

Savers will be able to put in up to £4,000 a year, and will receive an annual bonus of up to £1,000 from the government up to the age of 50.

Any holders of the Help to Buy ISA, which launched last December, will be able to roll up any savings into the Lifetime ISA without losing their tax-free benefits. The current Help to Buy scheme remains unchanged.

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