2015 Budget - first time buyer bonanza

Chancellor of the Exchequer, George Osborne has delivered his last budget before the general election.

Promising not to return to the “chaos of the past” Mr Osborne claimed “Britain is working again” and that “this budget backs the home buyer.” 

Mr Osborne announced  a new Help to Buy ISA for first time buyers. The scheme is intended to help those aspiring to get a foot on the property ladder by paying an additional £50 to their deposit for every £200 they save themselves. 

The result for the aspirational home owner is having saved a deposit of £12,000, the Government will add an additional £3,000 to the deposit for a first home.

The Help to Buy ISA will be introduced in the autumn.