'Isa trap costs us a quarter of our savings'

'Isa trap costs us a quarter of our savings'

‘Isa trap costs us a quarter of our savings’ The Lifetime Isa’s rules are penalising first-time buyers for house price rises Like many young couples saving for their first home, James Harwood and his girlfriend have done everything in their power to build up a deposit. They made the most of the government’s Lifetime Isa (Lisa) savings account, took on extra work, cut out excess spending and ditched expensive holidays. After more than two years of saving £400 a month the couple from Buckinghamshire have finally squirrelled away enough money to look at properties in their area. Because house prices are so expensive where they want to live, they are using shared ownership — a government scheme where you buy a portion of a property, rent the other part and …
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