George Osborne 's move puts £3,000 in the pockets of first time buyers . The ISA will only be available to people saving for their first home . For every £200 people save the Government will top it up by £50 . The accounts will only be available for the next four years , Mr Osborne said . Comment: The government has also capped the total bonus they will pay at £3,000 . Bonus available on homes up to £450,000 in London and £250,00 elsewhere .
George Osborne 's move puts £3,000 in the pockets of first time buyers . The ISA will only be available to people saving for their first home . For every £200 people save the Government will top it up by £50 . The accounts will only be available for the next four years , Mr Osborne said . First time buyers can make initial deposit of £1,000 when opening account . The government has also capped the total bonus they will pay at £3,000 . Bonus available on homes up to £450,000 in London and £250,00 elsewhere .