The latest Help to Buy ISA stats, up to the end of September 2016, are out today. You can find them here:
There were over 500,000 Help to Buy ISAs opened as at 30 June 2016.
Danny Cox, Chartered Financial Planner, Hargreaves Lansdown:
"Help to Buy Isa is helping to support younger home buyers and push down the average age at which people first step onto the property ladder. The majority using Help to Buy ISA are under the age of 35 which shows the Lifetime ISA age limit of 40 is well placed to support first time buyers. Help to Buy has grown to support around 1 in 5 first time buyer purchases and around 5% of the typical 100,000 total property transactions there are per month.
Government incentives to help the first time buyer are clearly working and this theme will gather pace when the Lifetime ISA launches on 6th April.
Confirmation this week that no penalty will be applied to Lifetime ISA savers in the first year of saving (2017/18) makes absolute sense – it would be brutally unfair to penalise a saver or investor before they had received their bonus.”