Laura Sears has diligently saved into a Lifetime Isa for five years, amassing a pot of £20,000 as a deposit for her first property. The 33-year-old and her fiancé Joe Cockerline, 32, are getting married next year and want to start a family in a home that they own.
But Sears is at risk of losing £5,000 of her savings pot because of a punitive price cap that has been unchanged since the Lifetime Isa was introduced in April 2017.
The savings account can be opened by anyone aged between 18 and 40 and is intended to encourage saving for a home or retirement. Account holders can save up to £4,000 a year and get a 25 per cent bonus from the government, up to
