Almost half of first time buyers (45%) claim they will not open a Help to Buy ISA, despite a potential bonus of up to £6,000 per couple.

The research by money.co.uk shows that one of the biggest barriers to entry is that savers cannot pay into a Help to Buy ISA and a standard cash ISA in the same tax year. Almost a third (32%) claim they’ve already invested in a cash ISA this year and say this is the reason they won’t open a Help to Buy account. Equally, 29% are put off by the terms and conditions which include strong stipulations around how the money is withdrawn and spent.

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