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registered interest false more like this
date less than 2022-10-19more like thismore than 2022-10-19
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading First Time Buyers more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the support available for people saving to buy a house; and if he will reconsider the limits placed on help to buy ISAs. more like this
tabling member constituency Newcastle-under-Lyme more like this
tabling member printed
Aaron Bell more like this
uin 67256 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text <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>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
question first answered
less than 2022-10-25T13:36:45.32Zmore like thismore than 2022-10-25T13:36:45.32Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4837
label Biography information for Aaron Bell remove filter