Vernon BS gives Help to Buy Isa customers £1000 bonus

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Stockport’s Vernon Building Society will offer an extra bonus to first-time buyers of up to £1,000 on its Help to Buy Isa.

First-time buyers who hold a Help to Buy Isa with the lender and who take their first mortgage with the society can receive up to a £4,000 bonus.

This is made up of a maximum £3,000 Government bonus and an extra £1,000 from Vernon, still getting a tax-free interest rate of 2.25 per cent.

The scheme is being launched on 1 April 2017.

Vernon Building Society head of sales and marketing Ian Keeling says: “Our first-time buyer savings and mortgage products are exclusively available to local people and we hope our innovative take on the Help to Buy Isa will make the journey onto the first rung of the housing ladder more achievable.”

The Government adds 25 per cent to savings via the Help to Buy Isa, up to a maximum of £3,000 on savings of £12,000.