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How to save for a mortgage deposit

Planning to buy a home

Get a bonus of up to £3,000 from the government when you save up for a mortgage deposit with a Help to Buy ISA.

Boost your savings

If you’re a first-time buyer saving with a Help to Buy ISA, you can get up to £3,000 towards your mortgage deposit from the government. That’s on top of the interest you’ll earn from your bank or building society.

You’ll earn a government bonus of 25% on the money you pay into the Help to Buy ISA. So for every £200 you pay into the ISA, you’ll earn £50, tax free. You need to save at least £1,600 (giving you a bonus of £400). The most you can claim is £3,000 – to get that, you’ll need to have saved £12,000. If you save more than £12,000, you get a flat-rate bonus of £3,000.

Example

You save 

Help to Buy ISA bonus

Bonus amount

Total

Less than £1,600

Not eligible

£0

n/a

£1,600 minimum

25%

£400

£2,000

£12,000 maximum

25%

£3,000

£15,000

More than £12,000

£3,000 flat rate

£3,000

n/a

You can kick-start your savings by paying in up to £1,200 in the first month, and then save up to £200 each month.

Your solicitor will need to apply for the bonus amount when they’re preparing for the completion of your first property purchase. That means the bonus amount can’t be a part of the deposit you need to provide when you exchange contracts with the property seller.

You can open a Barclays Help to Buy ISA online if you already have a bank account with us. If you don’t bank with us yet, visit one of our branches to apply.

The government provides more information about eligibility and restrictions on its Help to Buy ISA page.

Ways to provide a deposit

Help to Buy: ISA

Help with saving towards your first home

If you bank with us, you could open an ISA online in minutes.

Family Springboard Mortgage

Buy your home with help from a loved one

Saving for your first home isn’t easy – now family and friends can help with the deposit.

Help to buy centre

Help to buy mortgages

Get a helping hand when buying a home

Struggling to save a deposit? Help to Buy could suit you – while our Help to Buy ISA offers a bonus if you’re saving for a deposit on your first home.

Shared ownership mortgages

Buy a share of a home and pay rent on the rest

Buying a home through shared ownership means you can apply for a smaller mortgage amount – so your deposit could be lower, too.