You can no longer open a Help to Buy ISA, but if you already have one you can keep paying in and use its bonus for your first home. This page is for Help to Buy ISA holders deciding whether to keep it, add a Lifetime ISA, or move the money across.
The Help to Buy ISA now
Help to Buy ISAs are closed to new savers; if you already have one you can pay in up to £200 a month until November 2029, and the 25% bonus (up to £3,000) must be claimed by November 2030 on a first home costing up to £250,000 (£450,000 in London).- The home costs up to £250,000 (£450,000 in London).
- It will be the only home you own, and you intend to live there.
- You can pay in until November 2029 and claim the bonus until November 2030; your conveyancer claims it.
- If you also have a Lifetime ISA, you can use the government bonus from only one of them for your first home.
The two compared
| Help to Buy ISA | Lifetime ISA | |
|---|---|---|
| Open a new one? | No | Yes, if you’re 18 or over but under 40 |
| Paying in | Up to £200 a month, until November 2029 | Up to £4,000 a year, until you’re 50 |
| Bonus | 25%, up to £3,000 in total, when you buy | 25%, up to £1,000 a year, added as you save |
| Price cap for a first home | £250,000 (£450,000 in London) | £450,000 |
| If you don’t buy a home | Keep the money; no bonus | Use it from age 60, or pay the withdrawal charge |
You can use only one bonus
If you also have a Lifetime ISA, you can use the government bonus from only one of them for your first home. So if you have both, decide which bonus is worth more for your purchase, and put your money there.
Moving money from a Help to Buy ISA to a Lifetime ISA
You can transfer money from a Help to Buy ISA into a Lifetime ISA, where it can earn the Lifetime ISA bonus, within the £4,000 yearly limit. Transferring from a Lifetime ISA into a Help to Buy ISA counts as a withdrawal, so the Lifetime ISA charge applies.
A transfer can make sense if your home will cost more than the Help to Buy ISA’s cap, or if the Lifetime ISA’s bonus would be worth more to you. It doesn’t if you’re buying soon: You buy at least 12 months after your first payment into the Lifetime ISA.
Related guides
- ISAs guide: the ISA types, the allowance and the main choices in one place
- Lifetime ISA guide: the rules, the bonus, and LISA or pension
- How to save for a house deposit: the first-home rules for both accounts
- Help to Buy alternatives: the schemes that help first-time buyers now
- Withdrawing from a Lifetime ISA: the charge, and when there isn’t one