New tax free savings vehicles launched for first time UK buyers

Would be first time buyers in the UK can now take advantage of a new financial product that allows them to save for a deposit on a home tax free. The government’s Help to Buy ISA launched today and means that people can save £200 each month, up to a maximum of £12,000, and the government will provide a 25% bonus on the interest and contributions, up to a maximum of £3,000, when the saver purchases a property. According to Mark Hayward, managing director of the National Association of Estate...