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<p>LISA funds, including any government bonus, can be withdrawn for the purchase of
a first home valued under £450,000, in the case of terminal illness or from age 60.
Withdrawals for any other reason are subject to a 25% fee to recoups the government
bonus and any interest or growth arising from it.</p><p> </p><p>Data from the latest
UK House Price Index demonstrates that the average price paid by first-time buyers
is below the Lifetime ISA property price cap in all regions of the UK except for Inner
London, where the average price paid is affected by Boroughs with very high property
values. The Office for Budget Responsibility is also forecasting for house prices
to fall by 9% by the end of 2024.</p><p> </p><p>The Government keeps the operational
aspects of the Lifetime ISA under review, as it does all aspects of the tax system,
with any changes being announced at a fiscal event.</p>
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