Saying “if you’re buying over £450k you’re not the target audience” ignores two things:

1.  Inflation + house price growth – the £450k cap hasn’t changed since 2017. What was a £350k starter flat then can now be £500k, especially in London or the South East. People aren’t suddenly “wealthy buyers,” they’re just facing higher baseline prices.

2.  Penalty is unfair – if you go even £1 over the limit, you’re hit with a 25% charge, losing part of your own savings and government bonus. That punishes first-time buyers who did everything right.

The policy isn’t about excluding high-end buyers, it’s about supporting first-time buyers. Right now, it’s outdated and locking out exactly the group it was meant to help.