Lifetime ISA
31 Support topics
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What are the fees for the Moneybox Lifetime ISA?
For our Stocks & Shares Lifetime ISA, our standard investment account fes apply, which you can view here. We…
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How does signing up for Moneybox work with a referral link?
You can earn £20 by using your friend’s unique referral link to sign up to Moneybox and deposit at…
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How does referring friends to Moneybox work?
If you’re a Moneybox Lifetime ISA customer, you can refer up to 5 friends to Moneybox and earn £20…
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Everything you need to know about our end of tax year prize draw!
How does the tax year prize draw work? We’re offering up to £50,000 in cash prizes, which includes a…
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How can I earn cashback after using my LISA for my first home? 🏡
Lifetime ISA customers can earn up to £50 cashback by opening a Moneybox Cash ISA after using your LISA…
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How long does a LISA house purchase withdrawal take if I have payments in progress?
Once you submit your solicitor’s details to us in Settings > Withdraw > LISA > Buying first home, we’ll…
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How can I move money from another account into my Moneybox Lifetime ISA?
You can move up to £4,000 each tax year (or your remaining LISA allowance for the tax year) from…
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Can I still use my Lifetime ISA after purchasing my first home?
Yes! Funds held in a Lifetime ISA can be used for the purchase of your first home and/or retirement…
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What can’t Lifetime ISA funds be used for?
Your Lifetime ISA balance can only be used towards your exchange deposit, or the completion of your qualifying property…
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What is Housemates and how does it work?
Housemates allows you to invite another Moneybox customer to link their Lifetime ISA with yours, so you can view…
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Who can send me a Home-buying Gift?
Anyone with a UK bank account can send gifts of £100 or more. For our Cash Lifetime ISA, you…
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How do Home-buying Gifts from family and friends work?
Home-buying Gifts are a way for family and friends to help you on your home-buying journey by making gift…
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When are LISA bonuses paid out?
Lifetime ISA bonuses are paid out at the end of each month, and are based on your total contributions…
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When can I use my Lifetime ISA for a first home?
Once your Lifetime ISA has been open for at least 12 months, you can withdraw your funds penalty-free for…
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How does the Cash Lifetime ISA bonus interest rate work?
If you signed up for a Moneybox Cash Lifetime ISA on or after 17th August 2020, your account has…
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Who is the partner bank for my Cash Lifetime ISA?
The Moneybox Cash LISA holds your savings via third party banks, which are all covered by FSCS protection. You…
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What is a Lifetime ISA?
The Lifetime ISA (LISA) is a product designed by the government to help you to purchase your first home…
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Can I change my LISA type?
If you hold a Moneybox Cash Lifetime ISA, and would like to change this to a Moneybox Stocks &…
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Is my Lifetime ISA protected by the Financial Services Compensation Scheme?
The FSCS is a government fund that exists to help consumers in the event of a bank collapse. You…
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When does the interest on my Cash Lifetime ISA get paid?
The interest on your Cash Lifetime ISA accrues daily and is paid on the 1st of every month. Please…
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Who can open a Lifetime ISA?
Any UK tax resident aged 18-39 can open a Lifetime ISA. Once you have opened a Lifetime ISA, you…
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How can I use the savings I have in my Lifetime ISA?
You can use the money saved in your Lifetime ISA for two purposes: Buying your first home For retirement…
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How can I use my Lifetime ISA to buy my first home?
Our blog post outlines the full process of withdrawing from a Lifetime ISA You can use the amount saved…
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Can I use my Lifetime ISA for retirement?
You can withdraw the value of your Lifetime ISA when you reach 60 (or any time after). However, you…
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Can I withdraw my money at any time?
If you’re still within 30 days of your first payment into your LISA, you can cancel your account by…
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Can I open a Lifetime ISA if I already have an ISA?
Yes, you can pay into a Lifetime ISA and an ISA in the same tax year if you wish!…
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Can I have more than one Lifetime ISA?
You can have more than one Lifetime ISA, but you can only pay into one each tax year. You…
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Can I have a Lifetime ISA and a Help to Buy ISA?
You can have a Help to Buy ISA and a Lifetime ISA at the same time, and pay into…
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How is the Lifetime ISA different from the Help to Buy ISA?
Lifetime ISAs and Help to Buy ISAs (HTB) are government initiatives to help you save for the future. Both…
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Can I use the Lifetime ISA to buy a home with someone else?
Yes! You can use your Lifetime ISA to buy a home with another person regardless of whether or not…
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What is the difference between a Cash and Stocks & Shares Lifetime ISA?
We offer two types of Lifetime ISA: A Cash Lifetime ISA – This works like a cash savings account…
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It's important you know
Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.
A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.