On the Lifetime ISA:
“This is not necessarily a bad thing: people need to buy houses, and houses can be a valuable investment,” says Nick Hungerford, chief executive of Nutmeg.
From here.
LISA another excellent potential boost to land prices. MIRAS with real money from the taxpayer.
Thursday, 2 March 2017
You'd really think he'd know better
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4 comments:
Putting out the fire with gasoline.
MW, of course, that's what you do if you want to look as if you are trying to put out the fire, but, whoops, silly me, that was petrol not water, oh dear!
As someone under 40 who qualifies for the free money part of me kind of likes it. I was genuinely shocked when he announced it. I will definitely open one and psh myself to save £400 a month 10 months of the year.
But buying a house isn't actually the only way to get your money out of one of these tax free before you're 60. Some exchange traded derivative-based products are designed to lose value. Short term hedging products such as leveraged VIX etns for instance will always head for 0 in the long run.
So if I decide to cash out I'll just buy whatever I think is most likely to go down in my LISA and short the same product in a spread betting account. It's nothing short of amazing what they'll let any Tom, Dick and Harry short these days.
SL. You make my point for me. Essentially the bonus will always, but always end up as 'rent'.
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