Santander has upped the ante in the Help to Buy: ISA market by increasing the rate paid on its offering by a generous 2.50%. As a result, the account has earned a well-deserved 'excellent' rating.
Help to Buy: ISA now pays an attractive variable rate of 4.00% yearly, enabling it to take a joint market-leading position within its sector.
Savers must be first-time buyers in order to open an account either in branch or by phone. It can then be managed in the same way as well as online. An initial deposit of just £1 is required.
Savers can make further additions of up to £200 per month, and transfers in of existing Help to Buy: ISAs are also permitted (minimum £1,200). Unlimited, restriction-free withdrawals are also allowed, giving savers the height of flexibility. All savers can benefit from a 25% boost on their savings from the Government (up to £3,000), which will be paid when buying a home.
Savers who are looking to build up a deposit to buy their first home will be delighted by this eye-catching rate boost, which has moved this account to the top of its sector. The fact that it is also highly flexible boosts its appeal further, making it an ideal place to squirrel away funds for buying a first home.
Moneyfacts rating: Excellent
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