LISA0073

Written evidence submitted by Anonymous

I am writing as my daughter is trying to buy her first house.

She, her partner and son moved to Bristol a few years ago from London as they were never going to afford a property there, but are having problems finding a suitable property in Bristol.

The reason is that their deposit is within their 2 LISAs.

They cannot buy a home in the areas they wish too, because even a 2 bed terrace in liveable condition is selling above £450,000 so they are being outbid each time.

With the stamp duty rise in their sites, and another £7000+ to consider, they are getting desperate. Caught in an expensive renting trap.

If the ceiling was moved even to £500,000 (although it should be £600,000 by now) then they would already be in a property.

As parents we are willing to help with the cost, but they won’t take the 25% hit on using the money so they are out of options.

Please consider a hasty review of the outdated limits on the LISA

January 2025