It is no sercret that getting on the property has become increasingly difficult in recent years.
For first time buyers, sometimes simple advice might just give them a head start to becoming a home owner. Now, none other than the money saving expert himself has issued a simple tip that could help make this a reality.
Martin Lewis is looking at ways to get around the government's decision to stop applications for the popular Help to Buy ISA from November.
Don't worry if you think you haven't got the money just yet as Martin says just put £1 in for now and at least you're in the scheme and can get started.
A Help to Buy ISA sees the government top-up what you put in by 25 per cent - so that £1,000 becomes £1,250.
These particular ISA's will not be able to be applied for after November 30 2019 and instead will be replaced by the Lifetime Isa (LISA) which still has a 25% boost from the state but, according to Martin, its other terms differ.
This includes needing to be between the ages of 18-39 to open one whereas an H2B Isa is simply 16+.
So by setting one up now, you'll be able to save for a new home up until 2029.
'You need £1 in a Help To Buy Isa by November 30 or you lose the opportunity'
Writing in his MSE newsletter, Martin said: "If you think you'll need these [the Government top-up] but aren't sure, just open them."
The maximum amount you can open a H2B Isa is £1,200 and the minimum you must have saved to get the Government boost is £1,400.
Martin does advise that if you are 18-39 and don't plan on buying in the next year, a LISA may be a better option but if you're older and are in a more urgent need to buy, a H2B ISA is the safer option.
For more information on what Martin is recommending, you can visit the Money Saving Expert website here.
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