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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

Lifetime Isas: calls to increase price cap that ‘fines’ first-time buyers

Martin Lewis Cambridge Guardian Money Moneysavingexpertcom OneFamily
Katie Oliphant wants to buy in Cambridge but is concerned about the £450,000 price cap which would only get a flat with no garden.
Katie Oliphant wants to buy a property in Cambridge but is concerned about the £450,000 price cap that would only get a flat with no garden. Photograph: Graeme Robertson/The Guardian

Campaigners are pressing for changes to a UK government scheme for would-be first-time buyers that “fines” people if they use it to buy a home costing more than £450,000.

Martin Lewis, the founder of MoneySavingExpert.com, is among those calling for an urgent revamp of the rules that apply to lifetime Isas, which let people save for a first home or for their retirement.

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