LISA0033

Written evidence submitted by Anonymous

I am a 26-year-old woman living in South East London, and I believe strongly that the Lifetime ISA cap needs to either be lifted or removed entirely.

In London house prices are continuing to rise. £450,000 is no longer enough to buy a decent first property in many boroughs.

As young people increasingly need to commute, relocating to further areas is not necessarily a great option.

I think that the cap needs to either come up with inflation, and be regularly assessed, or be removed entirely. There is already a limit on how much can be deposited annually so it is highly unlikely this will cost the government much more, but this will allow more young people to get on the property ladder instead of relying on a brutal rental market.

Thank you for considering this.

January 2025