Written Question·Treasury·UIN 7372
Individual Savings Accounts
Tabled: 4 October 2024
Answered: 14 October 2024
Question
Ben Coleman
Labour — Chelsea and Fulham
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
Tulip SiddiqData 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...
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