{"id":135603,"date":"2023-03-23T21:41:14","date_gmt":"2023-03-23T14:41:14","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-lifetime-isa-home-buying-scheme-is-a-flop-so-why-wont-the-treasury-fix-it-henry-hill\/"},"modified":"2023-03-23T21:49:19","modified_gmt":"2023-03-23T14:49:19","slug":"the-lifetime-isa-home-buying-scheme-is-a-flop-so-why-wont-the-treasury-fix-it-henry-hill","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-lifetime-isa-home-buying-scheme-is-a-flop-so-why-wont-the-treasury-fix-it-henry-hill\/","title":{"rendered":"The lifetime Isa home-buying scheme is a flop, so why won\u2019t the Treasury fix it? | Henry Hill"},"content":{"rendered":"


\nThey were designed to help first-time buyers, but lifetime Isas are so restrictive they risk turning into a financial trap for many young peopleOf all the counter-productive, demand-stimulating measures successive governments have introduced to try to palliate the effects of endlessly climbing house prices, the lifetime Isa may have the dubious honour of being the most perverse.Announced by George Osborne, although introduced under Philip Hammond\u2019s chancellorship, it was designed as a vehicle to encourage long-term saving. To sweeten the pot, the government pays in \u00a31 for every \u00a34 saved a year, up to a maximum bonus of \u00a31,000.Henry Hill is deputy editor of ConservativeHome Continue reading…
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\nSource : theguardian.com
\nRead more…The lifetime Isa home-buying scheme is a flop, so why won\u2019t the Treasury fix it? | Henry Hill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

They were designed to help first-time buyers, but lifetime Isas are so restrictive they risk...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-135603","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-zh9","jetpack-related-posts":[{"id":131395,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lifetime-isa-saving-scheme-stopping-some-from-buying-a-home\/","url_meta":{"origin":135603,"position":0},"title":"Lifetime Isa saving scheme \u2018stopping some from buying a home\u2019","date":"November 6, 2022","format":false,"excerpt":"\r MPs and campaigners call for urgent review of property price cap for UK government schemeA government scheme to help people save for their first home is preventing some from buying a property and leaving others thousands of pounds out of pocket, MPs and campaigners have said.They are calling on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34314,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mis-buying-warning-over-lifetime-isa\/","url_meta":{"origin":135603,"position":1},"title":"'Mis-buying' warning over lifetime Isa","date":"November 14, 2016","format":false,"excerpt":"\r Former pensions minister Steve Webb questions suitability of the new government-backed Isa which comes with high exit penaltiesA new type of savings account aimed at under-40s and available from next spring could result in a \u201cmis-buying\u201d scandal, a former government minister has claimed.The lifetime Isa (pdf), unveiled by George\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148758,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-the-lifetime-isa-no-longer-fit-for-purpose\/","url_meta":{"origin":135603,"position":2},"title":"Is the lifetime Isa no longer fit for purpose?","date":"January 11, 2025","format":false,"excerpt":"\r Martin Lewis says the saving scheme proved a big hit but is starting to penalise the very people it sought to helpIt appears to be proving a hit with millennials and generation Z but has also come under fire for the \u201cunfair\u201d sting in its tail. The lifetime Isa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94541,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-i-use-my-lifetime-isa-to-pay-for-legal-and-survey-fees-for-my-flat\/","url_meta":{"origin":135603,"position":3},"title":"Can I use my lifetime Isa to pay for legal and survey fees for my flat?","date":"July 24, 2018","format":false,"excerpt":"\r I am unsure whether I will lose the bonus by withdrawing funds from it Q I\u2019m a first-time buyer in the process of buying a flat with a value of \u00a3130,000. I have \u00a313,750 in a lifetime Isa, \u00a33,000 of which is part of this tax year\u2019s allowance (\u00a3750\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8590,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-reasons-to-take-out-a-lifetime-isa-and-two-why-you-shouldnt\/","url_meta":{"origin":135603,"position":4},"title":"Four reasons to take out a lifetime Isa \u2013 and two why you shouldn\u2019t","date":"March 19, 2016","format":false,"excerpt":"\r The savings account, introduced in the budget, will help first-time buyers and the self-employed \u2013 but a workplace pension is still the most tax-efficient way to saveA free handout of up to \u00a332,000 in cash from the government is, it has to be said, the sort of offer that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90396,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-boyfriend-owns-a-caravan-can-he-still-use-a-lifetime-isa-to-buy-a-home\/","url_meta":{"origin":135603,"position":5},"title":"My boyfriend owns a caravan \u2013 can he still use a lifetime Isa to buy a home?","date":"June 4, 2018","format":false,"excerpt":"\r The caravan is non-residential so I am wondering if he qualifies as a first-time buyerQ My boyfriend and I are thinking of buying a house in the future. I have therefore opened a lifetime Isa so I can benefit from the first-time buyer bonus that comes with it. My\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135603"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=135603"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=135603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=135603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=135603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}