This petition was submitted during the 2015 to 2017 Parliament
Rejected petition Allow Help To Buy ISAs to be used to pay a deposit on a home
Rejected on
George Osborne, 18th March 2015,
"The Help To Buy ISA works like this: for every £200 you save for your deposit, the government will top it up with £50 more. It’s as simple as this"
However, it has transpired in the last few days that these accounts cannot be used to save for a housing deposit.
These accounts are effectively useless for those whose biggest obstacle to ownership is raising a deposit, while those rich enough to afford a deposit without the scheme get a nice handout.
"save for the deposit on your first home":
http://personal.natwest.com/personal/savings/tools-for-savings/HelptoBuyISACalculator.html
https://www.youtube.com/watch?v=1400A-GEyBQ&t=1m43s
Why was this petition rejected?
There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
https://petition.parliament.uk/petitions/165376
We only reject petitions that don’t meet the petition standards.