Lifetime ISA penalty reduced for first-time buyers purchasing homes over £450,000
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Lifetime ISA penalty reduced for first-time buyers purchasing homes over £450,000

1 hour ago · Originally published 28 Oct 2026 8/10 Original headline: Martin Lewis says important change in Budget will bring 'great relief'
The Chancellor has announced a reduction in the Lifetime ISA withdrawal penalty from 25% to 20% for those buying homes priced above the previous £450,000 threshold. This change ensures that first-time buyers who exceed the price limit will no longer lose their own savings, effectively removing the financial risk of using the scheme to purchase a property.
Source: Cornwall Live National
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