The Guardian and Times both reported this weekend on newly released Government figures, which show that a million Help to Buy ISA accounts have been opened since December 2015. These accounts, they suggest, have helped struggling First-Time Buyers save £1.8bn.
The more recently launched Lifetime ISA has given savers another option to consider, and has so far been taken up by 50,000 people since April. The Treasury expects this to rise by around half a million over the next 2 years.
The LISA has received some criticism for being too complicated, with experts claiming that it needs to be refined, but clearly both products are a good opportunity for savers to make the most of their money.
Also in the Times this week were figures suggesting that around £17 billion worth of mortgage deals will come to an end in September, followed by a further £18 billion in October. Borrowers were urged to act now to secure a record-low deal and avoid reverting to their lender’s Standard Variable Rate.
What the papers said about ISA’s and remortgaging