Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the Lifetime ISA property cap threshold for (a) England and (b) St Albans constituency.
Answered by Rachel Blake
Data from the latest UK House Price Index shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK except for London, where the average price paid is affected by boroughs with very high property values.
At Autumn Budget 2025, the Government announced that it will consult on introducing a new, first-time buyer only savings product that will provide the bonus when a person uses it to buy a house, giving savers flexibility in case their circumstances change. Details of the new scheme will be set out as part of the consultation in due course.
The Government keeps all aspects of savings tax policy under review.
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