Martin Lewis has issued an urgent warning to first-time buyers who could soon miss out on a £3,000 bonus.
The easiest, simplest form of help for first-time buyers to build a deposit closes to new applicants on November 30.
First-time buyers saving in Help to Buy ISAs get a 25% boost from the state, so each £1,000 saved becomes £1,250.
So if you may one day want to buy a home, consider opening one now with £1 as then the facility stays available until 2029.
Best of all, you only have to be 16-years-old to open the ISA.
Who can apply for a 'Help to Buy' ISA?
Martin Lewis says to open a Help to Buy ISA you need to be 16 or older and a first-time buyer.
This means that if you've ever owned or part-owned a property anywhere worldwide you will not be able to apply.
You can qualify even if you're buying with someone who's owned before, but if you're both first timers, you can have one each.
Should I chose a Lifetime ISA or Help to Buy ISA?
With the Help to Buy scheme you are limited to put in £1,200 in the first month and up to £200 per month after that.
However, you can save up to £4,000 every tax year in a Lifetime ISA.
With the Help to Buy scheme you can only buy a property and use it for a residential mortgage that is a maximum of £250,000 or £450,000 in London.
Lifetime ISA can be up to £450,000 anywhere.
However, you can use the Help to Buy bonus just three months after opening, compared to the Lifetime ISA, where you would have to wait a year.
There are no penalties for withdrawing money using the Help to Buy scheme either, unlike the Lifetime Isa.
And if you find a good deal, the Help to Buy ISA can pay more interest.
Martin's warning
You could lose the opportunity to apply for the Help to Buy scheme as it will end on November 30.
So, even if you're unsure you can set the account up bu depositing just £1 - and then decide which is better.
You can read Martin's full guide on Money Saving Expert.
