Help to Buy Scheme

(asked on 14th March 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has plans to review the help-to-buy ISA threshold in the context of rising house prices, particularly in tourist destinations such as Cornwall.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 22nd March 2022

The Help to Buy: ISA scheme aims to help those struggling to save enough to get onto the housing ladder. The property price cap of £250,000 for those properties outside London (£450,000 within London) therefore allows the Government to target support at the people the scheme is intended to help.

The latest statistics show that since the scheme was launched in 2015, 460,567 property completions have been supported through the scheme with a mean property value of £175,680, compared to an average first-time buyer house price of £228,627. The Government keeps all aspects of savings policy under review.

Reticulating Splines