If you have a Help to Buy ISA, the government will add a 25% bonus to your savings up to a maximum of £3,000 on savings of £12,000. To qualify for this scheme you must be classified as a first-time buyer and not own a property anywhere in the world.
A Help to Buy ISA is a type of individual savings account (ISA) designed to help first-time buyers save up a deposit for their home, with the Help to Buy ISA bonus becoming a real incentive for first-time buyers choosing where to keep their savings. In order to receive your government bonus you should get your residential conveyancer to apply for this as soon as the offer is accepted. To explain this in more detail we have created a guide on the process of applying for this bonus.