Lifetime ISA: basics
7 Support topics
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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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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 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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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 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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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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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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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.