Young people struggling to save for their first domestic are now being offered a help-to-buy Isa,which comes with a tax-free handout from the government. We pick through the detailsA tax-free payment from the government of up to £6000 for couples buying their first domestic, and interest rates of up to 4% when saving for a deposit, and will be on offer to young buyers who remove up the new help-to-buy Isa,which will launch next week.
The 4% interest rate will be on offer in branches and online from Halifax from Tuesday, and is so far above the standard rates available on deposits that it is likely to spark a rush for the government scheme.
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Source: theguardian.com