Since help to buy was introduced, property prices have increased. Those who took out a help to buy ISA and haven’t yet used it may be priced out of being able to obtain the government bonus, 25% of the ISA up to £3,000, as the property price threshold has not risen in line with property prices.
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To assist first time buyers, we think the government should allow use of help to buy ISA’s on property up to £350,000 outside of London, and £550,000 inside London.
Otherwise, many have saved up in a help to buy ISA with the promise of 25% bonus, but won’t be able to use it as average property prices are above the £250,000 threshold.