FTBs save £200m at Natwest

Since launching, more than 16 thousand NatWest customers have used the savings product to help towards buying their first home, receiving on average an extra £700 bonus from the government. The bonus incentive is helping customers to develop a regular savings habit with £167 saved on average each month.

The NatWest Help to Buy: ISA offers 2% interest which is then boosted by a 25% government bonus. This can then be used to buy homes worth up to £250,000 outside of London, rising to £450,000 in the capital. Customers can save up to £1,200 in the first month and then up to £200 per month.

Allan Hardie, NatWest Head of Savings said, “We are doing everything we can to help first-time buyers get on the property ladder. Help to Buy: ISA is a great way to save towards buying a first home and I’m delighted we have been able to help so many of our customers successfully become homeowners, making a real difference to their lives.”

First-time buyer Eloise Jephson who graduated from the University of Arts London, has been finding it difficult to get on the property ladder, “For the last few years I’ve been renting and also living at home, the Help to Buy: ISA with the government bonus offers a good incentive to start saving.”