Lifetime ISAs, built for first-time buyers

Save or invest up to £4,000 each tax year with the UK’s biggest market-leading Lifetime ISA provider 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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What is a Lifetime ISA?

A Lifetime ISA (LISA) is an individual savings account that can help you buy your first home or save for retirement. There are two types: a Cash Lifetime ISA, and a Stocks & Shares Lifetime ISA. A Cash Lifetime ISA lets you earn interest on your money, while a Stocks & Shares Lifetime ISA invests your money in the stock market (capital at risk).

How does the Lifetime ISA work?

  • Get a free 25% government bonus on every pound you save. You can save or invest up to £4,000 each tax year - that's up to £1,000 free!
  • As it's a type of ISA, all savings are tax-free. Tax treatment depends on individual circumstances and may be subject to change in the future.
  • Your £4,000 annual Lifetime ISA allowance is included in your total £20,000 annual ISA allowance.

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.
  • To open a Lifetime ISA for your first home, you must be aged 18-39.
  • 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 (up to £450,000) 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.

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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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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…
View all topics

Moneybox guide to Lifetime ISAs

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It's important you know

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.

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 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.

For Business Saver: T&Cs apply. Max one withdrawal per day.

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