The magnificent seven: The different types of ISAs explained

Countdown SevenIndividual Savings Accounts were introduced in the late 1990s and replaced PEPs (Personal Equity Plans) and TESSAs (Tax-Exempt Special Savings Account). Since then, they have become by far the most popular way of savings and investing, but have also expanded in number; there are now seven different types of ISA. You would be forgiven if this bewildering array of ISAs leaves you confused. So we thought a quick, at a glance guide, to the seven different types of ISA would be useful. #1: The original ISA This option allows anyone over the age ...

Q & A: Everything you need to know about the Lifetime ISA

Q & A Everything you need to know about the Lifetime ISA 150pxGeorge Osborne couldn’t let a Budget go by without tinkering with the pension system, but this time, it may actually benefit millions of people. In a surprising move, the Chancellor has announced the launch of new Lifetime ISAs (Individual Savings Accounts) designed to help younger people buy a home, as well as save for retirement. So who is eligible? How will they work? Read on and we explain all you need to know. Who is eligible to open a Lifetime ISA? Anyone ...

Savings: Help to Buy ISA providers named

Help to Buy ISA providers namedThe banks and building societies that are set to offer the Government’s new Help to Buy ISA (Individual Savings Account) have been named. The Help to Buy ISA was announced by George Osborne later this year and is designed to help first-time buyers save enough money for a house deposit. Figures show that the average purchase price paid by a first time buyer is £211,000, with an average deposit of 19% needed. How will the Help to Buy ISA work? First time buyers who take out a Help ...

Q & A: Everything you need to know about Help to Buy ISAs

Everything you need to know about Help to Buy ISAsAlmost everyone seems to be in agreement, getting on the housing ladder if you’re a first time buyer is harder than ever. A combination of rising house prices and stricter mortgage lending criteria is making life extremely tough for many first time buyers, even after the launch of various Government incentives, such as Help to Buy. So the news in last week’s Budget that a new Help to Buy ISA (Individual Savings Account) will be launched later in the year is a boost ...