Commenting on the Chancellor’s decision to retain the current Cash ISA limit, Sarah Harrison, Chief Executive of the Building Societies Association, said

“We are delighted that the Chancellor has listened. The decision to keep the Cash ISA limit at £20,000 for all savers is great news and provides welcome certainty.

“Cash ISAs are simple and trusted by millions of people. They help savers build financial resilience, save for a home and manage their money in retirement. They also provide vital funding for mortgages and business lending, and retaining the current allowance will make the new First-time Buyer ISA simpler to introduce.

“We support helping more people to invest, but this should be achieved by raising awareness of the benefits and raising confidence, rather than restricting saving. Today’s decision is welcome news for savers, homebuyers and the wider economy.

“We also welcome the move to remove the withdrawal penalty for people who purchase houses above the threshold with a HTB ISA.”


[ENDS]

Notes to Editors:
The Building Societies Association (BSA) represents all 42 UK building societies, including both mutual-owned banks, as well as 8 of the largest credit unions. Since February 2025, it has been campaigning to maintain the £20,000 Cash ISA limit.

Building societies and mutual-owned banks have total assets of almost £670 billion and together with their subsidiaries, hold residential mortgages of £499.1 billion, 29% of the total outstanding in the UK. They also hold £502.2 billion of retail deposits, accounting for 23% of all such deposits in the UK. Building societies and mutual-owned banks account for 46% of all Cash ISA balances.  

With all their headquarters outside London, building societies employ around 52,300 full and part-time staff.  In addition to digital services, they operate through approximately 1,300 branches, holding a 35% share of branches across the UK. 

Building societies supporting first-time buyers

In the six months to March 2026, more than half of building societies lending to homebuyers was to those buying their first home, with almost one in five of these loans to first-time buyers with deposits of 5% or lower.

Building societies supporting savers
Last year building societies paid £2.1 billion more savings interest to their savers than if they had paid the average rates offered by the largest banks.

Press contacts:
Tanya Jackson, tanya.jackson@bsa.org.uk  Tel: 07881 501098
Debbie Enever, debbie.enever@bsa.org.uk Tel: 020 7520 5926