The Help to Buy ISA qualifying limit stands at up to £250,000.00 outside of London. The value of properties up to £250,000.00 is not practical for many. Without reflecting reality, the scheme is unusable and the property market remains a heavy burden on first time buyers.
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For example, many working in London choose to live in surrounding areas such as Kent due to the manageable commute into the capital city. However, with the increase in good links into the capital, the property prices in the areas are increasing and exceeding the £250,000.00 Help to Buy ISA Qualifying limit; making the scheme unusable. This is reflected in the new Stamp Duty exemption for first time buyers policy, however not in the Help to Buy ISA scheme.