LISA0053

Written evidence submitted by Anonymous

Please can the committee consider the question as to why the review is limited to Lifetime ISAs when there is an additional legacy product held by many thousands of young people called a Help to Buy ISA?

The committee is looking at whether the £450,000 price cap on the LISA should be lifted or removed. I would like to point out that the price cap on the Help to Buy ISA is still just £250,000 and has never been increased since its inception. As a result, many young people do not qualify for a bonus when they buy, or they are faced with whether they should transfer the funds they have built up in the H2B ISA into a LISA.

Should the committee also consider whether a full transfer can be made from the H2B ISA into the LISA rather than being restricted to £4,000 a year, as with the current rules?

January 2025