Individual Savings Accounts
Commons · Question 7372 · Tabled 4 Oct 2024 · Treasury · Official record
Answered 14 Oct 2024
Question
Asked by Ben Coleman
To ask the Chancellor of the Exchequer, if she will commission research into the potential impact of the (a) property price limit and (b) exit penalty on first-time buyers who wish to use Lifetime ISAs to buy a property.
Answer
Answered by Tulip Siddiq, 14 Oct 2024
Data from the latest UK House Price Index demonstrates that the average price paid by first-time buyers remains below the LISA property price cap in all regions of the UK.Any unauthorised withdrawals are subject to a 25% withdrawal charge. This recoups th...