People over a certain age could miss out on help buying a home
The MoneySavingExpert Martin Lewis is urging people of a certain age to pay money into a special bank account soon if they want to get additional help purchasing their first home.
This means that, if you're between 18 and 39 years old and you don't have your own home yet, Martin Lewis says you should be able to save large sums of money in a Lifetime ISA account, which was made to help individuals save up to buy a house, reports Yorkshire Live.Back on TV with his consumer finance programme the Martin Lewis Money Show, on March 12, he talked about how to help young people save up to buy their own home.
Big banks like HSBC, Natwest, and Halifax all have these accounts. They give different amounts of interest but they all come with a bonus from the government. However, you must be under the age of 40 to claim this boost. Now, this bonus isn't paid out immediately - the account needs to be open for a year first. But don't worry, your money doesn't have to sit in there the whole time. So, you could open the account now and add more savings later to earn that bonus.
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