Martin Lewis warns UK homebuyers may face a £1,250 penalty due to Lifetime ISA, urging Chancellor Rachel Reeves to revise LISA regulations.

Martin Lewis, founder of Money Saving Expert, warns UK home buyers could face a £1,250 penalty due to the Lifetime ISA. He has written to the Chancellor, Rachel Reeves, requesting an overhaul of LISA regulations. Lewis argues that the 25% bonus state adds to young first-time buyers' savings has been helpful, but LISAs haven't kept up with the times and are causing financial issues for many, especially in South-East England.

July 24, 2024
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