Increase the Lifetime ISA property value cap - for multiple buyers and inflation

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Petition Action

Increase the Lifetime ISA property value cap - for multiple buyers and inflation

Petition Details

Allow the £450k property value limit to apply per LISA holder and not for the overall value of the property. I.e. if 3 people were to buy a property in London together they would be able to buy a property of up to £1.35m, and a couple £900k.

Additional Information

Additionaly the £450k cap should at least rise in line with the increasing property prices. Instead it has been sat at the same value since it was introduced in 2016. If it increased in line with property prices that would be £525k in today's terms with a 16.66% increase.

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