NatWest ISAs

Open a Help to Buy: ISA today

Don't miss out, only available until 30th November 2019

How does a Help to Buy: ISA work?

Get a bonus of up to £3,000 from the UK government to put towards your first home

Get up to £6,000 if you're buying a house with someone else and you're both first time buyers saving in a Help to Buy: ISA

Available for properties that cost up to £450,000 in London and £250,000 elsewhere in the UK

Kickstart your savings by saving up to £1,200  in the first calendar month and then pay in up to £200 per calendar month after that

Earn 2.50% AER / 2.47% tax-free interest on your savings.

What is a Help to Buy: ISA?

With a Help to Buy: ISA, the UK Government will give you a bonus worth 25% of what you have saved when you are ready to buy your first home.  You need to have saved at least £1,600 to qualify and the maximum savings that can qualify is £12,000.  This money goes towards the completion cost of buying your first home.

When you are ready to buy your first home request to close your NatWest Help to Buy: ISA and once closed we will send you a Closing Document that your conveyancer (e.g. solicitor) will need to claim the bonus from the UK Government. Do not withdraw funds before closing your account and please allow 5 days for account closure and a further 5 days for the Closing Document to be sent.

Read the full rules of the Help to Buy: ISA scheme.

Summary Box

Account name: Help to Buy: ISA

What is the interest rate?

Interest is calculated daily and paid into your account on the first business day of the month and at account closure. You'll be able to see and access the interest in your account on the following day.

Can NatWest change the interest rate?

Yes, these rates are variable. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. For more information please see the Savings Account Terms (48 pages)

What would the estimated balance be after 12 months based on a range of deposits?

These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to interest rates; and any interest earned stays in the account.

How do I open and manage my account?

Your eligibility

To open a Help to Buy: ISA you must:

be aged 16 years or over 

be resident in the UK for tax purposes

be a first time house buyer, under the Government's Help to Buy: ISA Scheme Rules

hold the account solely in your name

You must:

not have subscribed to another cash ISA or have subscribed more than the overall subscription limit in total to a stocks and shares ISA an innovative finance ISA or a lifetime ISA in the same tax year (subject to subscribing to a NatWest cash ISA explained below)

not hold another Help to Buy: ISA or have received a bonus under the Help to Buy: ISA Scheme, which is part of a UK Government Scheme to help individuals to buy their first home

Our Help to Buy: ISA Key Features document includes information about the scheme and how to access the Scheme Rules which contain detailed requirements relating to opening and operating a Help to Buy: ISA.

If we become aware after your account is open that you are not eligible under the Help to Buy: ISA Scheme Rules, we may convert your account to a Cash ISA with 28 days notice.

Subscribing to both a NatWest cash ISA and a NatWest Help to Buy: ISA

You may subscribe to another cash ISA in the same tax year as you subscribe to a Help to Buy: ISA provided that:

the other cash ISA is held with us and 

you don’t subscribe more than the annual subscription limit between the Help to Buy: ISA and the other cash ISA

The annual subscription limit for the tax year 6 April 2019 to 5 April 2020 is £20,000.    

If you already have a current account with us you can open your account on our mobile app, online, in branch or by telephone.

If you don't have a current account with us you can open your account online or on our mobile app (you need to register for online banking before you can get our mobile app).

We will need your email address and mobile number to open your account.

You can manage your account on our mobile app, online, in branch or by telephone.

Balance and ISA allowance

There is no minimum deposit required to open a Help to Buy: ISA.

You can deposit a maximum of:

£1,200 in the first calendar month you make a deposit to your Help to Buy: ISA; and

£200 in every subsequent calendar month thereafter

Transferring an existing ISA to a Help to Buy: ISA

You may transfer an existing: 

cash ISA to a Help to Buy: ISA providing you don't exceed the maximum monthly allowances or

Help to Buy: ISA with another ISA manager to your NatWest Help to Buy: ISA provided that your full balance is transferred and your existing Help to Buy: ISA is closed

Full details can be found at natwest.com/isatransfer

Can I withdraw money?

This account is a non-payment account.

Yes. No notice is required. You can withdraw money: in branch or by transfer (via your NatWest current account or non-isa savings account) to any other account based in the UK (online, by telephone or on the mobile app).

However, due to the monthly subscription limit you will only be able to make payments up to £200 a month in total so by making withdrawals you may reduce or take longer to save for your bonus.

Please note that you will not be able to claim the Government bonus on any money you have withdrawn from your Help to Buy: ISA.

You can transfer your Help to Buy: ISA to another ISA manager.

Additional Information

Tax and Definitions

AER: Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.

Gross: The interest rate you are paid without the deduction of UK income tax.

p.a.: per annum (per year)

Tax: The interest payable is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.

Get off to a fast start

Why not let us do the saving for you? Tell us you'd like a regular payment or an instant transfer in your application, and we’ll set it up for you – that’s one less thing to think about. It’s a great habit to start.

We'll send you an email when your statements are ready to view in Online Banking. You can check it whenever you want.

Get ready to apply

Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.

First things first. Please take a look at the important legal info:

How your information might be used

It’s important for you to understand how we use and share your information Please read this short summary before you continue with your application.

All okay? You're nearly ready to start.

We need to do a few final checks with you. They'll only take a minute.

Great. Let's get your application started.

Remember, to apply for a Help to Buy: ISA, you must: 

Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.

Never have owned a residential property or had any interest in land in or outside the UK

Be at least 16 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.

Have a phone number and email address we can contact you on.

Do you use online banking?

Great let's get your application started

Remember, to apply for a Help to Buy: ISA, you must: 

Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.

Never have owned a residential property or had any interest in land in or outside the UK

Be at least 16 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.

Have a phone number and email address we can contact you on.

Great. Let's get your application started

Remember, to apply for a Help to Buy: ISA, you must: 

Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.

Never have owned a residential property or had any interest in land in or outside the UK

Be at least 16 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.

Have a phone number and email address we can contact you on.

Getting you ready for home ownership

Help to Buy: ISA at a glance

Our easy to follow guide tells you everything you need to know about managing your cash ISA.

 

First time buyers' guide

You’ll find everything but your new kitchen sink in our guide to buying your first home.

 

Mortgages

When you’re ready to start your search, explore your borrowing options with our mortgages for first-time buyers.

 

Tips to help you start saving

If you're not sure where to start, our guide to managing your money can help you get on the right track.

Something else we can help you with?