Archive | March, 2015

Housing ISA

22 Mar

One of the things I liked the most from the budget is the one thing I have read the most negative comments about – Housing ISA for first time buyers. 

When my husband and I bought our 1st home it was in New Zealand in 1986 through a government supported savings scheme similar to the Housing ISA. We saved for 4 years a maximum amount each year and the government contributed a fixed amount when we bought our house. Not only did the government run a home ownership scheme but there was also a farm ownership scheme. It helped thousands every year get on the property ladder. 

So, if it could work so successfully in New Zealand why not in the UK? 

ISA is a brilliant investment package as long as you use it properly.  It encourages investment habits. More importantly it supports my philosophy of using the compounding effect to build wealth.  

There is no better motivation than investing for a specific reason. Once the investment habit is formed it continues for a lifetime.  I firmly believe anyone can achieve anything they want with knowledge, good habits, desire and perseverance.  

The housing ISA provides the means to achieving home ownership if there is the desire to.