Andy Burnham and his Chancellor John Healey are committed to offering a new first-time buyer ISA to savers who want to get on the property ladder, The i Paper has been told.
The Treasury is set to press ahead with Rachel Reeves’s plan to introduce a new savings account specifically aimed at helping people to buy their first home.
Officials are still looking at a “new and improved product” to replace the existing lifetime ISA (LISA) , a Treasury spokesman confirmed.
Shorts
The new ISA would pay a government bonus when a buyer purchases their first property, with no withdrawal penalties for using the money for alternative means and no upper age limit for opening or saving into an account.
