What is a Help to Buy ISA?

A Help to Buy ISA is a type of ISA designed to help first time buyers save for their first home. You will receive a 25% bonus on your saving when you use the money to purchase a property, up to a maximum of £3000. The accounts are per person rather than household, the maximum deposit you can place in to open the account is £1200, with a maximum monthly contribution of £200 from then on.