The government will top up any contributions you make by 25%, up to the contribution limit of £12,000. So, for every £200 you save, the government will contribute £50. This means you can earn a maximum of £3,000 from the government if you save the full £12,000.
The minimum amount you need to save to qualify for a government bonus is £1,600 (which gives you a £400 bonus).
You can pay in up to £200 per month. Both your initial deposit and monthly payments qualify for the 25% boost from the government.
Help to Buy ISAs are available to each first-time buyer, not each home. So, if you’re buying a property with your partner, for example, you’ll be able to get up to £6,000 towards your deposit.