Petition · past parliament · HM Treasury
Increase the value of the property you can buy with a Lifetime ISA to £550k
Closed
312 signatures
What the petition asks
You can currently use a lifetime ISA to buy a property of up to £450,000. This price was set at the creation of the ISA over 5 years ago. Property prices have increased significantly since then, especially during the pandemic, and the lifetime ISA purchase price needs to as well.
Maintaining the current cap forces many first time buyers to buy a property of lower value, quality and size than they would have originally aimed to do when signing up for the scheme.
They are now locked in as they risk a 25% penalty if they withdraw from their lifetime ISA for a property that more reflects the market.
They are now locked in as they risk a 25% penalty if they withdraw from their lifetime ISA for a property that more reflects the market.
Timeline
| 20 Jan 2022 | Petition opened for signatures |
| 20 Jul 2022 | Closed to new signatures |
Key facts
Signatures
312
Status
Closed
Department
HM Treasury
Opened
20 Jan 2022
Closed
20 Jul 2022
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Source: the official petition page. Last checked 15 Jul 2026.