Helping your savings to grow

Help to Buy: ISA

If youíre a first time buyer then consider our Help to Buy: ISA. You can save up to £200 a month with a Help to Buy: ISA and the Government will boost your savings by 25% so thatís a £50 bonus for every £200 you save. And to kick-start your savings you can deposit up to £1,200 during the month you open your account, after which, the £200 normal monthly savings allowance will apply.

When youíre ready to buy your property, your solicitor will claim your bonus to put towards the money you have saved in the Scheme. The minimum bonus payable is £400 and the maximum is £3,000 and is based on the accountís closing balance.

To be eligible for the account you must be aged 16 or over with a valid National Insurance number and not have previously owned property. For full details of the Scheme Rules please visit ask a member of staff in branch.

Summary Box
Account name Help to Buy: ISA
What is the interest rate? The variable rate below applies from 1 November 2016. Interest is calculated daily and paid annually on 5 April.
Can Tipton & Coseley Building Society change the interest rate? We may change interest rates at any time. Further details can be found in section 7 of our Terms and Conditions for Savings Accounts booklet.
What would the estimated balance be after 12 months based on a £1,000 deposit? The estimated balance after 12 months based on an initial deposit of £1,000 would be £1,027.50. This estimation assumes the account is opened on 6 April with no additional deposits, withdrawal transactions or interest rate changes and interest then paid gross on 5 April.
How do I open and manage my account? The account is available for anyone aged 16 or older. To open an account you must live in B, DY, WS or WV postcode areas unless you are an existing customer with a savings account opened with us before 23 May 2016. Transfers in from other ISA providers are not accepted. The minimum opening deposit is £10. During the month of opening you can deposit up to £1,200 in to your account, followed by up to £200 every calendar month following. You must have at least £10 in the account to keep it open. Withdrawals taking the balance below £10 are only allowed on closure of your account. You can pay money in or draw money out at any of our branch offices or through the post. Additional deposits can be made by cash or cheque. You can also pay money into your account by standing order. The maximum overall holding per customer is £500,000. Joint accounts cannot opened. There is no minimum monthly deposit that must be made in order to satisfy Help to Buy: ISA requirements, however any monthly deposit allowance that you do not use cannot rollover to the following month.
Can I withdraw money? You can make withdrawals without notice or charge however any money withdrawn cannot be repaid and will no longer count towards the Government bonus. Transfers out to other ISA providers are allowed without notice.
Additional information Interest is paid without tax deducted. You may be eligible to claim a bonus of 25% of your closing balance (subject to a maximum bonus of £3,000). This is claimed from the Government by your solicitor when you purchase a property. To qualify for the bonus, your closing balance must be at least £1,600 and scheme rules and property criteria apply. If you decide within 14 days of opening, that the account youíve chosen isnít right for you, you can have your money back without charge. Weíll arrange to close the account and return your money or to switch your funds to another of our savings accounts.

To download an application form please click here.

Please remember to forward a cheque payable to yourself, along with your completed application form. Please read our Terms and Conditions for Savings Accounts leaflet, the Help to Buy: ISA terms and conditions and the
Deposit Guarantee Scheme Information Sheet before sending us your completed application.

Completed application forms should be sent to:
Tipton & Coseley Building Society
70 Owen Street, Tipton, West Midlands, DY4 8HG
Telephone: 0121 557 2551

Further information

If you would like further information through the post about our range of savings products, please enter your details here

We will require new investors to sign any future windfall rights to our Charitable Foundation.

Page last updated on 6 April 2017.

© The Tipton and Coseley Building Society 2009
The Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 159601.

You can check this on the Financial Services Register, by visiting the FCA's website or by contacting the FCA on 0800 111 6768.

This site is intended for UK residents only.

Registered Office - 70 Owen Street, Tipton, West Midlands, DY4 8HG

We may monitor and record phone calls to ensure we have carried out your instructions correctly, to help us improve our service, to enable us to resolve complaints and to help investigate or prevent fraud or other crimes. Any recordings we make are the property of Tipton & Coseley Building Society.
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