"We hope our Help to Buy: ISA will provide first-time buyers with a simple way to save whilst receiving a competitive rate of interest on their savings."
The Yorkshire’s HTB ISA offers a 2.00% rate and is available to anyone over the age of 16 who has never owned a residential property in the UK. Eligible savers can receive a 25% Government bonus - the minimum bonus is £400 based on £1,600 saved with a maximum bonus of £3,000 based on £12,000 saved.
Aspiring homeowners can deposit up to £1,200 within the first month of opening their account, and a maximum monthly deposit of £200 subsequently.
The account is available through Yorkshire Building Society branches and agencies, Norwich & Peterborough branches and online via the Yorkshire and Chelsea building societies.
Louise Halliwell, Senior Product Manager at the Yorkshire, said: “We know how hard it can be to get that first foot on the property ladder, and we understand how important homeownership is to people. Research we conducted showed that owning a home was a key priority for 25 to 40 year olds, and more important than getting married, having children or achieving career aims.
“We’re committed to helping people to achieve their dream of owning a home, and we hope our Help to Buy: ISA will provide first-time buyers with a simple way to save whilst receiving a competitive rate of interest on their savings.”
