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<p>The Help to Buy: ISA scheme aims to help those who are struggling to save enough
to get onto the housing ladder. As first-time buyers tend to buy smaller (and therefore
cheaper) first properties, the scheme’s property price cap of £250,000 for properties
outside London (£450,000 within London) allows the Government to target support more
precisely at the people the scheme is intended to help. Since its launch in 2015,
the scheme has supported 497,940 property completions across the UK, with a mean property
value of £176,125 compared with an average first-time buyer house price of £231,704.</p><p>
</p><p>While the Government keeps all aspects of savings policy under review, Help
to Buy: ISA account holders can transfer their funds to a Lifetime ISA without incurring
any penalties. The Lifetime ISA allows first-time buyers to benefit from the Government
bonus when purchasing properties up to £450,000 anywhere in the UK.</p><p> </p><p>Further
information on the Lifetime ISA together with a comprehensive list other forms of
home purchase support schemes can be found on the Government’s website below:</p><p>
</p><p><a href="https://www.ownyourhome.gov.uk/" target="_blank">https://www.ownyourhome.gov.uk/</a></p>
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