Boring Money's Best Buys

Help to Buy ISAs

Our independent team of experts review the market for what we think are the best products. Our criteria are listed below. And we don’t take any money from providers for any links, click throughs, ratings or reviews. You can read about how we do make money here.

Criteria

  • Must be able to be opened and managed online
  • Have the best rates available at time of writing (December 2016)

Barclays Help to Buy: ISA

Barclays currently pays the best rate of 2.27%, and you can manage the account online, in branch or by phone. You can open the account with just £1 although you can put up to £1,200 in in the first month. It’s a variable rate so do keep tabs on this.

You can use standing orders, cash/cheque deposit or bank account transfers to fund the ISA.

Best for: those wanting a low cost option

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Natiowide Help to Buy: ISA

The Nationwide Help to Buy ISA pays 2% but it’s interesting because it offers what we call a ‘split ISA’. This means you can have a cash ISA alongside a Help to Buy ISA, as it’s all in one wrapper.

So, if you’ve already saved in a cash ISA since 6 April 2016 you can transfer it in here, and then drip feed money each month to the Help to Buy ISA. Or, equally, you can open it with new money and save both in the cash ISA and the Help to Buy ISA.

Nationwide also has a (relatively) decent rate on its easy access ISA which pays 0.75% (0.95% if you have a ‘Flex’ current account).

Best for: those wanting a low cost option

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Halifax Help to Buy: ISA

Halifax’s Help to buy ISA can be opened online. You can open this account with between £1 and £1,000. This must be received within 21 days of account opening and can be transferred from an existing ISA. You can pay in up to £200 in any calendar month. This should be paid by standing order and received by the 25th of the month.

Best for: those wanting a low cost option

Visit their site

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Important stuff!

Holly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice, nor are we regulated by the industry watchdog (although we do talk to them a lot). For every story on this site about a good investment, or something which went up by 10% or made someone £200, we could share a story about a bad investment, something which fell by 10% or lost someone £200. Nothing’s certain when investing so if you’re really unsure, or dealing with complicated stuff like working out what to do with a pension when you retire, we’d really suggest you get some financial advice. Here are some tips on  how to pick a good financial adviser. Or check out Unbiased or VouchedFor. Just remember, commission has been banned now so advisers need to be very clear with you about what you are paying them and when.