The Help to Buy ISA was once a popular way for first-time buyers to get a government boost towards their first home. However, if you’ve recently started looking into property ownership, you might be wondering - can you still open one in 2025? And if not, what are your options today?
Can You Still Get a Help to Buy ISA?
Unfortunately, Help to Buy ISAs closed to new applicants on 30 November 2019. This means you can no longer open a new account.
However, if you already had a Help to Buy ISA before that date, you can continue saving into it until 30 November 2029. You will then have until 1 December 2030 to claim the Government bonus.
The bonus remains the same. The Government adds 25% on top of your savings, up to a maximum of £3,000 (based on £12,000 saved). So, if you still have an active Help to Buy ISA, it is worth keeping up your contributions especially as the deadline approaches.
What Alternatives are there to a Help to Buy ISA in 2025?
If you missed out on opening a Help to Buy ISA, there are several other ways to boost your first home savings in 2025:
1. Lifetime ISA (LISA)
The Lifetime ISA is now the main Government backed alternative. You can open one if you are aged 18-39 and save up to £4,000 per tax year. The Government adds a 25% bonus (that’s up to £1,000 annually) which can be used towards your first home (worth up to £450,000) or retirement savings after age 60.
You can use the Lifetime ISA to buy with a mortgage from any lender, and it typically offers higher contribution limits than the Help to Buy ISA.
2. First Homes Scheme
Launched to replace parts of the old Help to Buy equity loan scheme, the First Homes Scheme offers new-build properties at a 30% to 50% discount for local first-time buyers and key workers. There are eligibility criteria and price caps, but it can make owning a home more achievable in high-cost areas.
3. Shared Ownership
This option allows buyers to purchase a share of a property (usually 25-75%) and pay rent on the remainder. It is a good way to get on the property ladder with a smaller deposit, and you can increase your share over time through “staircasing”.
Staircasing is the process of increasing your ownership percentage (usually as your financial position improves), eventually giving you the option to own 100% of the property. This flexibility makes Shared Ownership a helpful pathway for buyers who would like to enter the market sooner but are not ready yet to purchase a property outright.
Final Thoughts
While you cannot open a new Help to Buy ISA in 2025, those who already have one can continue to benefit from the Government bonus for a few more years. For new savers, the Lifetime ISA, First Homes Scheme and Shared Ownership offer the most direct alternatives.
If you have any questions about how these factors could affect your property purchase, please contact a member of our Residential Property team.
