Help to Buy: ISA launches

Help to Buy: ISA launches

From December the 1st NatWest will offer the UK Government’s Help to Buy: ISA to customers.

Supporting individuals

27 November 2015

Existing savers will not get lower rates than new savings customers.

NatWest & Ulster Bank are amongst the first banks to offer customers this product in the UK.

The Help to Buy: ISA is a new type of cash ISA with a monthly savings allowance of up to £1,200 in the first month of funding and then up to £200 per month thereafter. The UK Government will give customers a bonus towards the cost of buying their first home - 25% of the amount saved (£50 for every £200 saved). This is payable directly towards the customers home purchase.  Customers may save up to £12,000 for a £3,000 bonus, with the minimum bonus being £400 (£1,600 of savings).

NatWest & Ulster Bank will also offer customers a variable interest rate of 2% AER and will continue to ensure its savings products reflect the promises that were made to our ISA customers in 2014. This means that existing savers do not get lower rates than new savings customers.

Angela Byrne, Head of savings at NatWest, commented:

“Across the country house prices continue to rise pushing up the deposits young people need to get on the property ladder. This means it is now more difficult than ever before for young people to take that first step.

“We are very aware of the strains young people in particular put themselves under to save for their first home. With 8 out of 10 of our customers relying on help from their parents this scheme couldn’t be more timely.  We also hope it will get our customers in the important habit of saving as research has shown that 34% of people have no savings at all”.



This information is for media use only and is not a financial promotion.

Available to NatWest & Ulster Bank customers aged 16 or over who have never owned property before.

Related articles

Government announces Help to Buy ISA

The UK government has today announced a Help to Buy ISA, to help first time buyers save for their first home. The new accounts will be available through banks and building societies from autumn 2015.

RBS and NatWest improve digital banking for personal customers

Digital banking receives a makeover and extra features amid investment in personal banking services.

Latest news

Women and millennials help drive £17bn+ franchise sector to record levels

New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.

Winners announced for Skills & Opportunities Fund

52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.

RBS Multicultural Network meets Eric Holder, 82nd US Attorney General

Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.

Set Tab for lightbox