LISA0122

Written evidence submitted by Anonymous

My main comment about the LISA is that the maximum purchase price limit hasn’t changed since 2016.

This is despite significant house price inflation over that period.

For a couple who have saved diligently into a LISA and hope to purchase in a more expensive area of the country, they run the very real risk of being unable to use their LISA savings for the house purchase and consequently unable to proceed with a purchase.

I believe most LISA savers use it as a means of purchasing a house, rather than as a pension product, so the current price restriction is potentially counterproductive.

The withdrawal penalty is too onerous, particularly considering the circumstances outlined above.

January 2025