Tax free saving to build a deposit to buy a new home
- Protection Scheme: FSCS
- Fund Choice: Over 2,500 Funds, Investment Trusts, Bonds, ETF's or Cash
- Invest From: £100 single or £25 per month
Why we like it: Easy set up in a matter of minutes. Start with as little as £25 and save up to £4,000 per year. Wide choice of stock market linked investments, or can be retained in cash. Fund factsheets and investment tools available. Simple annual management fee of 0.45%. There may be some other charges depending on the investment choices. Hargreaves Lansdown are regulated by the Financial Conduct Authority and are covered by the Financial Services Compensation Scheme. Capital at risk.
- Open in five minutes
- Open with lump sum, regular contributions or transfers from existing ISA's
- Contribute up to £4,000 per year until you’re 50
- Get a 25% government bonus: For every £4 you invest you receive a £1 bonus
- Use your savings to buy your first home up to a value of £450,000, or use as retirement income
- You can contribute to both a stocks and shares Lifetime ISA and a ‘regular’ stocks and shares ISA in the same tax year
- Must be UK resident aged 18-39
- If you need to access your money for any other reason, you’ll pay a 25% penalty
- Annual account charge of 0.45%
- Dealing and other charges will depend on the investments you choose and will apply in addition to our annual account charge
- Tax rules can change and their benefits depend on your circumstances. Lifetime ISA allowance forms part of the overall £20,000 annual allowance