Submitted on Monday 22nd August 2016
Rejected on Monday 22nd August 2016
Current status: Rejected
Rejection code: duplicate (see below for details)
Make the 25% from Help to Buy ISAs available for deposits on new house purchases
National media recently announced that the Government have stated that the much publicised "Help to Buy ISA" cannot be used towards the deposit to a new house for first-time buyers, leaving hundreds of thousands of first-time buyers needing to seek additional finance to buy their first house.
Former Chancellor George Osborne initiated the "Help to Buy" scheme, whereby first-time buyers would be able to be the recipients of a Government 'top up' to their savings in "Help to Buy ISAs" (up to £3,000.00) by 25%.
It has since been discovered that this promise of additional funds cannot be used to actually help to buy the property, and instead may only be applied for after Completion. It can be used to help sustain the property, but not to buy it, as initially put forwards.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
petition.parliament.uk/petitions/165376
3.141.244.153 Thu, 02 May 2024 22:14:54 +0100
