Gli isas a vita lasciano un po ‘con meno soldi di quelli che hanno messo
https://www.bbc.com/news/articles/c93kgye03j9o
di Alert-One-Two
Gli isas a vita lasciano un po ‘con meno soldi di quelli che hanno messo
https://www.bbc.com/news/articles/c93kgye03j9o
di Alert-One-Two
13 commenti
I recently found out that I no longer qualify as my dad suddenly passed away in the space of one month with terminal cancer.
I had been saving for 4 years in a LISA, but because I’m due to inherit a portion of his house (that needs to be sold to pay 5 people, resulting in me still needing to find somewhere to live), I’m no longer considered a first time buyer under the account rules.
In total I have to pay back £4200… and still find somewhere to live.
> But the Treasury Committee said if LISA funds were withdrawn early due to unforeseen circumstances, charges mean people face losing 6.25% of their own savings.
Yep, that’s how LISAs have always worked. How is this news?
The fact that nearly twice as many people made unauthorised withdrawals than used it to buy a house in 23-24 is sort of damning.
Only if they’ve made a withdrawl for something that doesn’t qualify for a full withdrawal (like withdrawing for anything but a property deposit) but thats always been very clear in the main rules of a LISA, so not sure why BBC are acting like this is news?
It’s a strange product.
I’d not complain if the price cap rose in line with house prices in and out of London. But to keep it at 450k with prices rising 30% since then and govt knowing that the average age of a FTB now at around 34, is a national scandal and doesn’t help FTB in any way. On top of that you have stamp duty cost. I just can’t believe how things are right now
Balance and fairness is needed.
I’ve got one but I’m using it as an extra retirement pot. Quite a few people I know who got them said it was useless when buying property since they either cost more than the max allowed or some rule meant they couldn’t use it.
At this point I swear the government only create these sort of accounts to get our money and use it improperly. Where are all those 25% penalties going?
Had one friend who tried to buy a house with her husband. They were told he couldn’t use it because when he was 19 his relative died and he inherited property back home. It was sold in a few months and he only got about 2k for his share. They said it still meant the owned property and wasn’t a first ime buyer. He took the penalty hit just to get the money out of the LISA. So sad.
I’m using mine to buy a house, plenty of people use them without issue. The rules are clearly declared for them.
Martin Lewis telling people it’s a no brainer for any FTB has contributed to people opening them without understanding the limitations. Now he’s going to press for change as he knows he’s partly responsible.
After me and partner putting in max amount for 4 years, so getting about 10k total including interest, it will barely cover the cost of stamp duty tax on the max price house you can buy with lisa
It’s how life is you put money away for a rainy day then poof your car blows up and you feel you have to buy an electric one at an impossible payment scheme because the government says your helping the planet and then ai makes you redundant and well it’s your rainy day money or off to the streets you go.
The rules around them and their use are clearly given when you open one. My main gripe is the limit not rising in line with house pricing. When it started, 450k for a first house was essentially a formality. Now if you’re near London it’s a real issue.
One idea may be to contribute let’s say £4k for 10 years let it grow as s&s until 60 years. Then pay this as a lump sum to mortgage at 60. Most people do have a mortgage at 60.
My biggest peeve with the product is that even though it ties up your money until retirement, it counts as savings for non means tested benefits.
I’ve got one that I’m using as a pension pot, and I think the return is amazing. I’ve put £16k in and it’s currently sitting around £22k, despite America’s best efforts. However it’s really not a well thought through product at all.