Thousands of would-be home owners are boosting their savings with the help to buy scheme.
Despite the number of regular ISAs dropping, the Help to Buy ISA has proved a boon to first time buyers who are using it to get on the property ladder.
When using the savings held within a Help to Buy ISA to buy a property, the government pays a 25% bonus – up to £3000 per person – on top of the amount saved.
More than 650,000 people have opened a Help to Buy ISA and they have proved to be particularly popular here in northwest.
Many people with a Help to Buy ISA are saving the maximum amount you can pay in per month (£200). There is no minimum amount.
The ISAs are individual accounts, so if a couple opens two accounts, they can double the amount of the government bonus.
The bonus is available on completion of your property purchase.
You have until 2019 to open a Help to Buy ISA and up to December 2030 to claim the government bonus.