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Many young people are paying £100s/£1,000s fines to the govt to access money they saved to buy a first time house. It's time to #EndLISALockout
Today I've contacted the Chancellor @Jeremy_Hunt to ask him to fix Lifetime ISAs in the autumn statement. They're now a dead duck for many 1st time buyers especially in urban areas.
The LISA can be opened age 18-39 and then it gives savers a 25% bonus up to £1,000 a year towards a housing deposit. It should be great (& is for many).
Yet LISAs launched in 2017 with a £450,000 cap on the property you could use them for. That cap is still the same now, but house prices have gone up 33%. That leaves some who've saved squeezed out. Eg.
You saved the max in a LISA for 5yrs:
- You put in £20,000, state added £5,000, so you've £25,000
- Yet the home you wanted & saved for is now just above the threshold.
- So now you face a 25% penalty to withdraw your money, so you get only £18,750 back that's £1,250 less than you put in, and the different goes to the state.
My ask to the Chancellor is simple. Either wipe the fine for those buying houses above the threshold or raise the threshold in line with house price rises (or both).
Full info https://t.co/JJCaXv1aLo
@sirin_kale@guardian Bike nicked in SE1. Found it on eBay 3 weeks later in Broadstairs. Convinced the fella to bring it back to London - quite a story to get the police to take it seriously despite it being the easiest possible resolution. Two officers that finally turned up were great. Got bike back
@parcelforce How do I speak to an employee to work out where my parcel is? Adidas says my parcel has been delivered to the chosen drop off / pick up location but your tracking says it is on the way back to sender?
Heart-breaking news. We’ll all miss you, Bobby.
Thank you for the great memories from everyone at Sky.
Lauren, Katie, David and Ann – we’re thinking of you.
I'm having the most amazing time filming #AfterLife2. I think I might have the loveliest, most talented cast and crew in the business. I'd never tell them this, obviously. They'd ask for more money. Fucking greedy twats.