Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, with reference to the Department's document entitled First Time Buyer ISA: Consultation, published on 23 June 2026, whether the Government is minded to increase the property price cap from £450,000 in (a) England and (b) London.
Answered by Treasury
On 23 June the Government published a consultation on the implementation of the First-Time Buyer ISA (FTB ISA), details of which can be found at www.gov.uk/government/consultations/first-time-buyer-isa-consultation. The consultation closed on 18 August 2026.
As set out in the consultation document, anti-circumvention rules will apply to the new FTB ISA. Existing Lifetime ISAs will remain outside those rules because they are subject to a withdrawal charge.
The Government is carefully considering responses to the FTB ISA consultation, including views on the property price cap. Any decisions on the detailed design of the product, including matters affecting Exchequer cost, will be taken in the round and announced and assessed by the OBR in the usual way.
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