Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will review the property cost cap for the Help to Buy ISA scheme.

The Help to Buy: ISA scheme aims to help those who are struggling to save enough to get onto the housing ladder. Since its launch in 2015, the scheme has supported 531,507 property completions across the UK, with a mean property value of £176,828 compared with an average first-time buyer house price of £245,350.

Help to Buy: ISA account holders can transfer their funds to a Lifetime ISA without incurring any penalties. The Lifetime ISA allows first-time buyers to benefit from the Government bonus when purchasing properties up to £450,000 anywhere in the UK.

Further information on the Lifetime ISA together with a comprehensive list of other home purchase support schemes can be found on the Government’s website below:

https://www.ownyourhome.gov.uk/

The Government keeps all aspects of savings policy under review.