Move into your first home faster

With a Help to Buy: ISA, after the initial £1,200 deposit, you can save £200 a month towards your first home. With a Lifetime ISA you can save up to £4,000 a year meaning you could be in your home much sooner.

You can find out more about the Lifetime ISA and compare the benefits of both accounts by clicking on the buttons below.

Find out more about the Lifetime ISA Compare the benefits of both accounts

Help to Buy: ISA

If you're planning on buying your first home, a Help to Buy: ISA can boost your savings by up to £3,000.

You'll need to be a UK resident, aged 16 or above, and a first-time buyer to qualify for the Help to Buy: ISA bonus. A first-time buyer is defined as someone who has never owned a property before, including properties outside of the UK. If you've inherited a property, or even owned a share of a property before, you won't be eligible for this account either.

A bonus of up to £3,000 is available from the Government for individual account holders. Once £1,600 has been deposited into your Help to Buy: ISA and you are close to buying your first home, you will need to instruct your solicitor or conveyancer to apply for your Government bonus. Once they receive the Government bonus, it will be added to the money you are putting towards your first home. The bonus must be included with the funds consolidated at the completion of the property transaction. The bonus cannot be used for the deposit due at the exchange of contracts, to pay for solicitor’s, estate agent’s fees or any other indirect costs associated with buying a home.

This scheme will provide a bonus from the Government provided you have savings of at least £1,600. The bonus will be 25% of your savings up to a maximum bonus of £3,000.

Find out more about a Help to Buy: ISA account below.


Account details

  • Claim up to £3,000 on top of your own savings

  • Transfers in from existing Help to Buy: ISAs accepted

  • Deposit up to £1,200 in the first month

  • Save up to £200 each month

  • Earn interest tax free*

  • Branch only savings offer

Summary table

Account name

Help to Buy: ISA

What is the interest rate and is it fixed?

The annual interest rate is variable and currently set at 2.25% p.a./AER*. The annual interest is tax-free

The interest on this account is variable, which means that it can go up or down. To learn more about the basis on which we might change your interest rate, please read our terms and conditions

Will I be taxed on the interest?

No. The interest you'll receive will be tax-free

How do I get the bonus payments?

This is claimed from the Government by your conveyancer when you purchase a property, before completion

Can I withdraw money?

Yes, you can withdraw your money as long as a minimum of £1 is left in your account at all times. If all of the funds are withdrawn the account will be closed. If you withdraw any funds after depositing it will still count towards your monthly allowance. For example, if you deposit £150 and withdraw £100 you can only put in an additional £50 in the account for that month

How can I open a Help to Buy: ISA with The Nottingham?

To open your Help to Buy: ISA, call your local branch to speak to an adviser. They'll arrange a time for you to pop in and open your account

What would my balance be after a year of saving?

Use our Help to Buy: ISA calculator to work out how your investment will grow over time

Additional information

The Help to Buy: ISA can only be opened until 30th November 2019. If you would like an account you will have to open one before the deadline. Alternatively you may be interested in our other savings account targeted towards first time buyers, called the Lifetime ISAThere are other savings accounts available with The Nottingham and other banks and building societies. Subject to withdrawal conditions you can switch accounts at any point

Key product information

To find out more download our key product information guide

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Are you missing out on up to £1,000 a year?

If you're aged between 18-39 you could earn up to £1,000 per year in free cash from the Government (until your 50th birthday) to put towards your first home or retirement. For every £4 you invest, you will receive a £1 bonus

Want to discuss one of our savings products?

Visit a branch or call our customer service team to find out more about our accounts

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Your savings are protected

Your eligible deposits with Nottingham Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.


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Opening an account

Find out if you're eligible for a Help to Buy: ISA below.

In order to open a Help to Buy: ISA you must:
  • Be a UK resident
  • Be saving for your first home
  • Be a first time buyer, aged 16 or over
  • Have a minimum deposit of £1
  • Be able to provide us with your National Insurance number
  • Meet our ID requirements
  • Meet HMRC eligibility checks

Can my partner also open a Help to Buy: ISA?

Yes, they can. As long as your partner meets the above criteria, they can open their own Help to Buy: ISA and you can both claim separate Government bonuses for one home. 

If you'd like to know more, please call one of our customer service team who'll be happy to help. You can contact The Nottingham team on 0344 481 1225, via social media on Facebook or Twitter, fill out our enquiry form or speak to an adviser in person by visiting your local branch.

Managing your account

Find out more about the process of managing your account below.

Paying money in

You can deposit a maximum of £1,200 within the first month of opening your Help to Buy: ISA, and up to £200 per calendar month afterwards. You can save up to £3,400 in your first year, then up to £2,400 in the years after that. 

You’ll need at least £1 to open your account initially, and you can transfer money from any other ISA account (including another Help to Buy: ISA). Just fill in the ISA transfer authority form - there's no need to tell your current provider, we'll do it for you.

Please be aware transfers are also subject to deposit limits. 

Taking money out

With a Help to Buy: ISA you can withdraw money at any time, without any notice.

You won't face a penalty fee, and you can withdraw from your account as many times as you want. However, you cannot:

  • Withdraw more than £500 in one day
  • Leave less than £1 in your account. If all of the funds are withdrawn the account will be closed.

Please be aware that the monthly deposit limit applies regardless of whether you withdraw money. For example, if within one month you chose to deposit £150 and then withdrew £100, the maximum that you could deposit would be £50 not £150 due to the £200 maximum deposit limit.

Rates and account details

Find out more about how a Help to Buy: ISA works below.

When will my interest be paid?

Your annual, tax-free interest will be paid into your Help to Buy: ISA account on the 5th April every year.

When will my bonus be paid?

Upon completion of your first property purchase, you'll be paid your bonus. A conveyancer will retrieve the bonus on your behalf, and you will be able to begin the process while you're in the final stages of purchasing your first property. 

Your bonus will be based on the final balance of your Help to Buy: ISA account. The 25% Government bonus will be applied to a balance of £12,000 or less, meaning you can claim a maximum of £3,000 with one individual Help to Buy: ISA account. 

You can view the rules of the Help to Buy: ISA scheme in depth here, or ask us for a copy in branch.

Use our savings calculator to find out how your savings might grow over the months.

Talk to an expert mortgage adviser today

Nottingham Mortgage Services will take the stress away by managing the whole process to make sure your mortgage completes on time. 

Current interest rates from 24 Jul 2017

Balance Tax-free p.a./AER*
£1 - £750,000 2.25%

*We will pay your interest free of UK income tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The tax treatment of ISAs may also change. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was reinvested in the account each year. Interest rates are variable unless otherwise stated.


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