{"id":148758,"date":"2025-01-11T14:00:05","date_gmt":"2025-01-11T07:00:05","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-the-lifetime-isa-no-longer-fit-for-purpose\/"},"modified":"2025-01-11T20:38:11","modified_gmt":"2025-01-11T13:38:11","slug":"is-the-lifetime-isa-no-longer-fit-for-purpose","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-the-lifetime-isa-no-longer-fit-for-purpose\/","title":{"rendered":"Is the lifetime Isa no longer fit for purpose?"},"content":{"rendered":"


\nMartin 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 is a scheme that helps people save towards their first home or for their retirement \u2013 its big selling point is the free cash you get from the government: up to \u00a332,000 in\u00a0theory.But the way the scheme works penalises some people, and the consumer champion Martin Lewis is among those who have called for an urgent revamp. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Is the lifetime Isa no longer fit for purpose?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Martin Lewis says the saving scheme proved a big hit but is starting to penalise...<\/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-148758","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-CHk","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":148758,"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":135603,"url":"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\/","url_meta":{"origin":148758,"position":1},"title":"The lifetime Isa home-buying scheme is a flop, so why won\u2019t the Treasury fix it? | Henry Hill","date":"March 23, 2023","format":false,"excerpt":"\r They 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8240,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lifetime-isa-what-is-it-and-how-does-it-work\/","url_meta":{"origin":148758,"position":2},"title":"Lifetime Isa: what is it and how does it work?","date":"March 16, 2016","format":false,"excerpt":"\r This savings account will help young people save for a home or for their retirement, with the government adding a bonus of up to \u00a31,000 every yearThe chancellor\u2019s budget included the announcement of a lifetime Isa to help young people save for their first home or retirement.What is a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52063,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-you-resist-lisa-out-to-lure-you-into-saving-for-a-property-or-retirement\/","url_meta":{"origin":148758,"position":3},"title":"Should you resist Lisa \u2026 out to lure you into saving for a property or retirement?","date":"April 17, 2017","format":false,"excerpt":"\r The Lifetime Isa was launched this month, offering a tax-free wrapper and 25% bonus. But do weigh up the pros and cons, says Harriet MeyerYou know you should save for retirement, and since the introduction of the Lifetime Isa there are more options than ever. Launched on 6 April\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97290,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lifetime-isa-works-only-for-those-most-able-to-save\/","url_meta":{"origin":148758,"position":4},"title":"Lifetime Isa works only for those most able to save","date":"September 5, 2018","format":false,"excerpt":"\r A \u00a31,000 annual bonus is nothing when the average deposit for a London house is \u00a395,000\r \r Source : ft.com\r Read more...Lifetime Isa works only for those most able to save","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":148758,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148758"}],"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=148758"}],"version-history":[{"count":1,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148758\/revisions"}],"predecessor-version":[{"id":148759,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/148758\/revisions\/148759"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=148758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=148758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=148758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}