Help to Buy ISA limit based on Mortgage Value or Property Value?

ted8930

Hi,

A little confused with this one as I have some conflicting information.

Martin Lewis is saying that this is only valid on properties up to £250,000 (£450,000 in London), but as I read this from Nationwide Help to Buy ISA page...

"The scheme applies to properties in the UK, purchased using a mortgage of up to £250,000 outside London and £450,000 within certain London boroughs as specified in the Help to Buy: ISA Scheme Rules."

... this says with a mortgage of £250,000 thereby making the property value more than £250,000 when you add on a deposit.

So I'd like some clarity on whether it is based on property value or mortgage value.

Thanks

colsten

According to the Scheme Rules published by the Treasury, it is the purchase price of the property.