Tue, 21 March 2023

Newsletter sign-up

Subscribe now
The House Live All
One year on, has Essex begun to be levelled up? Partner content
By Essex County Council
With passenger numbers hitting 100% of pre Covid levels we need to invest in UK rail, powering a clean economic recovery Partner content
Britain's ‘green ports’: why decarbonising the maritime sector starts on dry land Partner content
Press releases

Help to Buy: ISA helps first-time buyers and the economy

National Federation of Builders | National Federation of Builders

1 min read Partner content

The chancellor threw a lifeline to first-time buyers with the announcement of the Help to Buy: ISA during the last Budget before the general election.

The Help to Buy: ISA will allow first-time buyers to save for a home. For every £200 saved, the government will provide a bonus of £50.

Rico Wojtulewicz, policy advisor for the House Builders Association, said: "Help to Buy: equity loan which provides help with the deposit on a new home, is due to end in 2020. This savings scheme gives a higher rate of return than current savings options and gives first-time buyers a few years to save before the current scheme runs out."

Accounts are available to individuals, rather than to properties. So, two people saving for a home may each have an account and collect the bonus when they purchase a home. The bonus is available on properties valued up to £450,000 in London and up to £250,000 elsewhere.

Rico continued: "Not only are first-time buyers the lifeblood of the industry but for every pound spent on construction, there is £2.84 of economic activity. Also, for every property built, two jobs are created so this has the potential to benefit more than first-time buyers."

Read the most recent article written by National Federation of Builders - Chancellor unveils wage rescue package


Communities Economy
Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now

Partner content
Connecting Communities

Connecting Communities is an initiative aimed at empowering and strengthening community ties across the UK. Launched in partnership with The National Lottery, it aims to promote dialogue and support Parliamentarians working to nurture a more connected society.

Find out more