Under the terms of the government’s Help to Buy: ISA, your savings will be boosted by a staggering 25% ­– that’s a bonus of £50 for every £200 you save. However, the scheme closes to new applicants on 30th November and, if you haven’t opened an account before then, even if only to get it started with £1, you’ll lose your chance to benefit from any government bonus. The good news is that if you have an account opened by 30th November you can keep saving and earning your extra cash until 30th November 2029.

You can deposit up to £1200 when you open an account followed by a maximum monthly contribution of £200 – £1600 will earn you a top-up of £400. With some great rates of interest available from a number of banks and building societies, our advice is to shop around for the best deal – but do it soon to save missing out.

If you want to find out more about the Help to Buy: ISA scheme, visit the government’s website.