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Help to Buy Scheme

Question for Treasury

UIN 28292, tabled on 6 July 2021

To ask the Chancellor of the Exchequer, what plans he has to amend the Help to Buy ISA price cap of £250,000 for properties outside London.

Answered on

13 July 2021

The Help to Buy: ISA scheme aims to help those struggling to save enough to get onto the housing ladder. The property price cap allows the Government to target support at the first-time buyers who need it the most. The scheme includes a higher property value cap of £450,000 for properties in London compared to £250,000 anywhere else in the UK.

Since the scheme launched in 2015, 386,728 property completions have been supported through the scheme with a mean property value of £174,531 compared to an average first-time buyer house price of £210,727.

The Government keeps all aspects of savings policy under review.

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