Reduce the lifetime ISA fee of 25% to 20% when accessing the savings early

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Petition Action

Reduce the lifetime ISA fee of 25% to 20% when accessing the savings early

Petition Details

Reduce the lifetime ISA fee of 25% to 20% when accessing the savings early. This will allow the account owner to pay back the Government bonus but not be charged for taking their own money out.

Additional Information

During covid, the Government made this change for 1 year which helped many. In response to the last similar but failed petition (July 2022) they stated the following regarding the decision to do this during covid 'financial disruption and uncertainty for many people, and for some this may have created a need to access savings unexpectedly.'

I believe this statement to be true again based on the current financial crisis people are facing. People's money is being held to ransom when needed the most.

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