Help to Buy: ISA

These are a type of savings account designed for people to save for their first home. You can pay in up to £200 per month (plus a lump sum of £1,200 in the first month) and the Government will add a bonus of 25% when you buy a house. The bonus is capped at £3,000, so the maximum you should invest is £12,000 in an account, unless the interest rate is better than other types of accounts.