West Brom BS launches Help to Buy ISA
West Bromwich Building Society has added a Help to Buy ISA to its range of savings accounts.
" If they can secure an additional contribution from the government, as well as a competitive rate of interest, then hopefully that savings goal can be achieved a little more quickly."
The product offers an interest rate of 2.00% on top of the government's bonus payment of 25%. The maximum bonus receivable is £3,000 on savings up to £12,000.
Up to £1,200 can be deposited in the first calendar month and then up to £200 in subsequent months.
Interest is paid annually and transfers in from other Help to Buy: ISAs and non-Help to Buy: ISAs are accepted.
Sophie Dwyer, the West Brom’s product manager for savings, said: “We have a good track record of lending to first-time buyers to support their aspirations for home ownership, so adding a Help to Buy: ISA to our portfolio is a logical next step.
“It means we can offer assistance to those customers who want to get onto the property ladder but still need time to save the necessary funds for a deposit. If they can secure an additional contribution from the government, as well as a competitive rate of interest, then hopefully that savings goal can be achieved a little more quickly.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Blogs
Mark Eaton: Is 2026 the year brokers die out?
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Vida
Vida launches high LTV 'Pathway' mortgage range
FCA
Tribunal upholds £2m FCA fine for 'corrupt and dishonest adviser'
Melton Building Society
Melton BS launches 100% LTV mortgageÂ
