Looking to buy
your first home?

It may be easier than you think
with the Moneybox Lifetime ISA.

Save up to £4,000 per year and get a
25% government bonus.

An introduction to the Moneybox Lifetime ISA

What is the Lifetime ISA?

  • The Lifetime ISA is a new product, designed by the government to help you buy your first home.
  • The brilliant thing about the Lifetime ISA is that you get a 25% government bonus on all savings up to £4,000 per year.
  • For every £4 you pay in, you get £1 for free to put towards your first home.
  • If you pay in the maximum of £4,000 you’ll receive a £1,000 bonus. Over time, these bonuses could give you a real head start.
  • If you withdraw your money for any reason other than buying your first home (or for retirement after age 60) you will pay a government charge of 25%.The net effect of the 25% bonus, then 25% charge is that you lose £6.25 per £100 you pay in (excluding gains/losses and fees).

What else should I know?

  • To open a Lifetime ISA you must be aged 18-39.
  • You can continue contributing into a Lifetime ISA until you are 50.
  • You must be a UK tax resident (and non-US citizen) only.
  • You must use it to save towards your first home, provided the value is no more than £450,000, or for your retirement when you reach 60.
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Safety and transparency

FCA authorised

Moneybox is authorised and regulated by the Financial Conduct Authority. Their goal is to ensure that we always run our business in the best interest of our customers.

Covered by the FSCS

Your investments are covered by the government's Financial Services Compensation Scheme up to a limit of £50,000.

Bank level security

We use 256-bit TLS encryption for all personal information and will never share any of your details with third parties without your consent.

Our fees

We charge £1 a month and 0.45% of the value of your investments per year. We do not charge the £1 subscription fee for the first three months.

We're here to help

If you have any questions, you can chat to us in the app or email us via support@moneyboxapp.com.

It's important you know

Please note that you may get back less than you invest if the value of your investments falls.

There is a 25% government withdrawal charge unless you use the money towards buying your first home (up to £450,000) or for retirement (from age 60).

Please note that a Lifetime ISA is treated differently for tax purposes when compared to a pension.

If you decide to opt out of your workplace pension to pay into a Lifetime ISA, you will not benefit from any employer-matched contributions 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 as considerations can be complicated.