Lifetime ISAs, built for first-time buyers

Save or invest up to £4,000 each tax year in the UK’s market-leading LISA and get a 25% government bonus on all savings. That’s up to £1,000 for free each year you save for your first home.

Choose from a Cash Lifetime ISA or Stocks & Shares Lifetime ISA (capital at risk).

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.

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Voice of First-time Buyers White Paper

Far too often, first-time buyers (FTBs) are thought of as a single group, but their paths to homeownership are far from uniform. Income, location, gender, family status, and access to financial help, like the ‘Bank of Mum and Dad,’ all shape their unique experiences. We’re proud to support the largest community of aspiring FTBs in the UK and we’re committed to giving this community a voice, to ensure that their needs and their lived experiences are understood by those who are responsible for shaping policy and product design.

Building on our ongoing campaign work with policymakers and the wider industry, we’ve launched our ‘Voice of First-time Buyers’ White Paper at the Labour Party Conference.

There’s no one-size-fits-all solution to address the challenges facing the UK housing market and it will require a range of tailored responses from both the government and the industry. Our research shows that understanding the diverse needs of FTBs is key to offering meaningful support and helping them onto the property ladder.

Read White Paper

What is a Lifetime ISA?

The Lifetime ISA (LISA) is a product designed by the government to support people aged 18-39 to buy their first home or put money aside for retirement.

How does the Lifetime ISA work?

You can save or invest up to £4,000 each tax year and the government will give you a 25% bonus on the amount you contribute, up to £1,000 each tax year.
You can choose to save cash with a Cash LISA or invest in the stock market with a Stocks & Shares LISA.
All savings in a LISA are tax-free, as it's a type of ISA. Tax treatment depends on individual circumstances and may be subject to change in the future.
Your Lifetime ISA allowance of £4,000 is included in your total annual ISA allowance of £20,000.
If you’re saving to buy with someone else, you can track your combined savings progress in the app with our Housemates feature.

What can the Lifetime ISA be used for?

You can use the Lifetime ISA to buy your first home (up to £450,000) anywhere in the UK, but must have had the account open for at least one year before you withdraw money to do this. The time starts from your first deposit.
You can also pay into your Lifetime ISA until you turn 50 and withdraw your savings for retirement at age 60. In the ten years inbetween, you'll continue to accrue cash or investment gains/losses, depending on the type of LISA it is.
If you withdraw money for any reason other than buying your first home or for retirement, you'll pay a 25% government penalty on the amount you withdraw. This means you'll get back less than you've put in.

Learn about the Moneybox Lifetime ISA

Start your Lifetime ISA journey today

Choose between our Cash Lifetime ISA and get a competitive interest rate on top of your tax-free savings and government bonus, or our Stocks & Shares Lifetime ISA to invest and grow your first home savings over time.

Cash Lifetime ISA

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Stocks & Shares Lifetime ISA

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We’ll be here from your first step to your doorstep. When the time comes, we can help you apply for the right mortgage for you from over 90 lenders.

Visit Moneybox Mortgages* to learn more.

Moneybox Mortgages is provided by Moneybox Mortgages Ltd. Your home could be repossessed if you do not keep up repayments on your mortgage.

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Lifetime ISA questions & answers

Read more information about the Lifetime ISA. If you have any questions, please chat to us in the app or email us via support@moneyboxapp.com.

What is a Lifetime ISA?

The Lifetime ISA (LISA) is a product designed by the government to help you to purchase your first home…

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…

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…

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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Learn more about the Lifetime ISA

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It's important you know

When investing, your capital is at risk. All investing should be regarded as 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.

The Lifetime ISA is treated differently for tax purposes when compared to a pension. If you decide to opt out of your workplace pension and instead pay into a Lifetime ISA, you will not benefit from any employer-matched contributions into your LISA and it may affect your current and future entitlement to means-tested state benefits. If considering the Lifetime ISA for the purposes of retirement, we recommend you speak with an independent financial advisor.

Moneybox Mortgages is provided by Moneybox Mortgages Ltd. Your home could be repossessed if you do not keep up repayments on your mortgage.

It's important you know

Capital at risk. All investing should be regarded as 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.

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