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New Help to Buy ISA launched

New Help to Buy ISA launched

Category: ISAs
Author: Lieke Braadbaart
Date: 24/07/2017

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Nottingham BS has launched a new Help to Buy ISA which has entered the Best Buy chart for its sector in a competitive third place, earning a high Moneyfacts rating in the process.

The basics…

The Help to Buy: ISA boasts a near market-leading variable rate of 2.25%, paid yearly, whereby interest must be compounded.

The finer details…

This branch-based account requires a minimum investment of just £1, but comes with the standard Help to Buy ISA maximum initial deposit limit of £1,200. It allows transfers in from other Help to Buy ISAs, and a maximum of £200 per month can be added to the account via standing order, cheque or cash. Unlimited withdrawals are allowed and there is no penalty for transfers out.

Just remember that the Help to Buy ISA is designed for first-time buyers and therefore comes with certain eligibility criteria, and the Government bonus can only be used for buying a first home.

Why we like it…

The competitive rate is enough to see this deal jump into the top three of the Best Buys, easily earning it a high rating.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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