Proposed Increase in Lifetime ISA House Price Limits for First-Time Buyers
Tuesday, 6 August 2024, 06:00
Proposed Increase in Lifetime ISA House Price Limits
The average house price in England has seen a significant increase of £100,000 since 2015.
Current Property Price Limits
Despite the surge in housing costs, the property price limits for savers utilizing the Help to Buy and Lifetime ISAs have remained constant.
Impact on First-Time Buyers
- Many first-time buyers are facing penalties due to these stagnant limits.
- Raising the house price thresholds could ease some of these financial burdens.
Advocacy for Change
There is a growing call for the government to revise these limits in order to support new homeowners in navigating today's challenging real estate market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.