Important things to know about Help to Buy ISAs in 2019

The Help to Buy ISA was launched on the 1st December 2015 and runs until the end of November 2019, with all bonuses having to be claimed by the 1st of December 2030. With just under a year left to open and start saving, now could be a good time to consider one. They offer an alternative to taking out a loan to help fund an initial deposit for your first home along with other benefits, with the way they work and how you can take advantage of them.

How do they work?

Help to Buy ISAs work in a similar way to regular ISAs, the only difference is, the government will top up any contributions made by 25% (up to a limit of £12,000). A minimum amount of £1,6000 is required to qualify for a government bonus and you can start with a deposit of anything up to £1,000. After the initial deposit has been made you can only save up to £200 a month, so you can’t simply transfer £12,000 across, for example. Then when it comes to buying your first home with the ISA, 25% will be added to it as long as its between the minimum and maximum contributions.

Qualifying Criteria

In order to open and use a Help to Buy ISA you simply need to be a first-time buyer over the age of 16. The good news is that they are available to each first-time buyer and not each home, so if you have a partner or want to buy a property for a friend, you can combine savings and get up to £6,000 from the government towards your home. Any home worth under £250,000 (or 450,000 in London) is eligible and it can be used with any mortgage, not just a Help to Buy one.

Limitations to Help to Buy ISAs

Within all the criteria mentioned, there are a few further restrictions. Help to Buy doesn’t work if you are wanting to buy a property overseas or open more than one. Technically you can’t buy a property and rent it out with one, but if your circumstances change and you have to work away, for example, you will be able to rent it out.

Should I open one in 2019

Any first time buyers will be looking into getting a good financial position before purchasing a property by ensuring they fulfil their financial obligations. If you are considering buying a house in the years should seriously consider open one. As long as you meet the qualifying criteria and open one before the 2019 deadline then theres little reason to not open a Help to Buy ISA.

Poole deserves a ‘world class’ marina

Poole-based property specialist Richard Carr has promised to deliver a world class marina and hotel if the £100 million plans to redevelop the current Salterns Marina are approved.

Improving Poole

Salterns Marina on Richard Carr website

The current Salterns Marina hotel, which will be redeveloped if plans are approved

Richard has worked on a number of Poole developments during his 30 years in the property sector, with examples available in the ‘Development’ section of his website.

Acting for Salterns Marina, Richard Carr hopes to have plans for the redevelopment work with Poole planners by the end of the year and if successful look to start work this time next year.

Speaking to the Bournemouth Echo, Richard said: “Effectively what it brings Poole and the area is world class status.

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Latest Richard Carr development making headlines

Development Specialist Richard Carr is spearheading the re-development of Salterns Marina in Poole, which is set to receive a £100m facelift if plans are approved by the local council.


Architects view of planned Salterns Marina development

An artists impression of Salterns Marina

News of the facelift, which has been developed by Richard, proved popular with both local media in Poole and industry publications across the UK.

Revealed on Monday, the news has been published on 10 website with links to all the articles available via the ‘Press’ section of Richard’s website.

The news broke on Saturday morning via the Bournemouth Echo, who wrote about Richard Carr’s £100m development.

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Waterfront demand driving prices

Properties with waterfront views are worth 70% more on average then their inland counterparts according to new research, reports development specialist Richard Carr.

Seaside homeowners in the money

Richard Carr seaside properties

Seaside properties drive market prices

Property developer Richard Carr works predominantly in the south West of England in Poole working on properties on both the coast and inland – and it’s the South West of England which commands the biggest price increase with an extra 91% on average.

Furthermore, properties with private slipways have the potential to push the price upwards of 100% to a staggering 118%.

The South West has one of the longest coastlines of any English region and includes some of the country’s most expensive waterfront hotspots such as Sandbanks, Rock and Salcombe.

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Young professionals favour the south coast

London’s dominance at the top of the property hotspot list for young professionals has taken a hit according to research published by Lloyds Banks, reports Richard Carr.

One way ticket to the south coast

Fortitudo Property Development Specialist Richard Carr gains planning permission and overseas developments of luxury properties in the south coast of the UK and isn’t surprised to see a buck in the trend.

Places such as Hove, Brighton and Bournemouth have all becoming leading property hotspots for 25 to 44 year olds to purchase homes. Hove leads the list whilst neighbouring Brighton is the fifth most popular.

Hove and Brighton rank highly ranks to the relatively short commute into the capital. Despite this, 16 of the top 20 areas that attract the highest proportion of young professionals is London. The majority of the places are fairly obvious with Wimbledon, Battersea, Fulham and Islington all high on the list.

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What would happen to property in Bournemouth if Eddie Howe’s men achieve promotion?

It’s a question that many AFC Bournemouth fans hope gets answered come May, with Eddie Howe’s men challenging at the top of the Championship for a place in the prestigious Premier League.

Millions pumped into the economy

Richard Carr, a Commercial and Residential Development Specialist who has operated in the region for over three decades, believes the football team’s promotion will improve the areas already burgeoning economy.

Richard Carr AFCB

AFC Bournemouth celebrate a goal during the 2014/15 season

Last week, Richard wrote about Bournemouth’s rise as a digital powerhouse in the UK. Over the past four years, the south coast town has overtaken London as the UK’s quickest growing digital economy.

He believes the football team’s promotion will only heighten the success of the region.

Promotion to the Premier League brings an increase in exposure and tourism for the area, but more importantly, millions of pounds from TV deals and sponsorship for the club.

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Bournemouth is the UK’s fastest-growing digital economy – who would have thought it?

Richard Carr, a Commercial and Residential Development consultant based in the south east of England, is delighted at the recent news that Bournemouth is the UK’s fastest-growing region in the digital economy, as reported by the

Digital economies booming outside of London

Richard Carr Bournemouth Coast

Bournemouth Pier

The average perception of Bournemouth is one of sand, sea, and the Pier! How many people would have put the coastal resort town down as being the home of the country’s fastest-growing digital economy?

The majority of outsiders wouldn’t have, but those that reside and operate in the area are well aware of the burgeoning digital hub that is being created in the town.

74% of the UK’s digital firms are now based outside of London with Bournemouth, Liverpool and Brighton emerging as the industry’s runaway leaders.

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Richard Carr’s Business Beginnings

Today on Richard Carr’s Commercial and Residential website, we take a look at an article wrote about the entrepreneur when he was aged 29, by the Alfred Lambs magazine.

Alfred Lambs feature

The full two page feature, which talks about Richard Carr’s early years in business and his powerboat career, is available to read in the ‘Press’ section of his website.

The lengthy article opens by explaining Richard’s route into the fast food outlet industry, beginning with the time he spent as a farmer during his spell in agricultural college.

Richard Carr Alfred Lambs

Richard Carr’s feature in the Alfred Lambs feature

The feature spells out Richard’s desire to constantly better himself and become a successful businessmen. It took a number of small-time jobs before Richard eventually landed on his feet.

He worked on motor cruisers as a handy man; took a course in heavy engineering which set him as a welder for twelve months and then slowed made his way into the leisure industry working in hotels and restaurants.

Allied Restaurants Ltd

Richard Carr opened a fast food outlet in the centre of Bournemouth and for two years ran a Hamby House, with great success. His potential was recognised by fast food giants Wimby and it was his relationship with them that kick started his business career.

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From the archives: Charitable Richard Carr

Throughout Richard Carr’s 30 year career as an entrepreneur and businessman he has often provided his support to the local community.

Charitable Carr

Three archive pieces have been uploaded to the ‘press’ section of Richard’s website detailing three different occasions when he used his wealth to help his local community.

Richard has operated in the leisure, hospitality and property sectors throughout his working life and currently works as a commercial and residential development consultant for Jacob Carr Homes Ltd.

As a property developer he has experienced a lot of success in his local area; listed below are projects that Richard helped achieve planning for:

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