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Lifetime Individual Savings Account (LISA)


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You can use a Lifetime ISA (Individual Savings Account) to buy your first home or save for later life. You must be 18 or over but under 40 to open a Lifetime ISA.

You can put in up to £4,000 each year, until you’re 50. You must make your first payment into your ISA before you’re 40.

The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.

The Lifetime ISA limit of £4,000 counts towards your annual ISA limit. This is £20,000 for the 2022 to 2023 tax year.

You can hold cash or stocks and shares in your Lifetime ISA, or have a combination of both.

When you turn 50, you will not be able to pay into your Lifetime ISA or earn the 25% bonus. Your account will stay open and your savings will still earn interest or investment returns. 

To open and continue to pay into a Lifetime ISA you must be a resident in the UK, unless you’re a crown servant (for example, in the diplomatic service), their spouse or civil partner.

You can withdraw money from your ISA if you’re:

  • buying your first home
  • aged 60 or over
  • terminally ill, with less than 12 months to live

You’ll pay a withdrawal charge of 25% if you withdraw cash or assets for any other reason (also known as making an unauthorised withdrawal). This recovers the government bonus you received on your original savings.

Our Services

Terms & Conditions 
Key Features
Costs and Charges

Click here to view our policies and disclaimers prior to opening any type of account with us.

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Apply for an Account

A Lifetime ISA is an ISA with a difference – it’s to help you buy your first home or save for retirement. You can save or invest up to £4,000 of your £20,000 ISA allowance each year in a Lifetime ISA, and receive a 25% government bonus on top if you use it to get on the property ladder, or for your retirement at age 50.

Low Cost

Our super low cost fees are 0.25% on all assets we hold, capped at £400 p.a.  Therefore your annual policy fees will not exceed £400.

Asset Range

Access to an array of global markets covering a vast range of Equities, Exchange Traded Funds and Mutual Funds / Investment Trusts.

Foreign Currency

Your account will let you exchange almost any currency pair, allowing you to invest in foreign currency assets.


Live Pricing with immediate market access at a fixed cost of £7.95 per transaction, including FX.


Whether an active or a buy and hold trader, our platform has been designed for both professionals and novices.


No paperwork, no scanning and uploading, fully automated for an enhanced client experience.

Our Super Simple Fees



capped at £400 per annum



fixed for all online trades & fx

Get a 25% bonus each tax year on up to £4k

You can save up to £4,000 a year in a LISA as a lump sum or by putting in cash when you can. The state will then add a 25% bonus on top. So if you save £1,000, you’ll have £1,250 and if you save the full £4,000, you’ll have £5,000. And that’s before interest or growth.

The bonus is paid every year you save something in to your LISA, until you hit age 50.

The bonus is paid monthly (if you’ve contributed that month) and takes between four and nine weeks to arrive.

You only get the bonus on contributions, not cash interest or investment growth.

Once in your account the bonus is counted just like the rest of your savings, so you’ll get interest on it too (or investment growth/loss).

The maximum bonus is £33,000 if you open it at 18, and max it out until you hit 50 (unless you’re born on 6 April, when the max is £32,000).

You must be aged 18 to 40

Anyone aged 18 to 39 can open a LISA.

For (grand)parents wanting to help their (grand)kids buy a home, giving them cash to put in a LISA is a great way to do it – though they’ll need to open the LISA account themselves as you can’t do it for them.

If you’re pushing 40, make sure you open one before you hit the cut-off age. You can continue to put money into the LISA until the day before your 50th birthday (once you’re 50 or over you’ll continue to get interest or investment growth/losses but you won’t be able to pay in any more). 

If you want to transfer it to a new provider, for example to get a better interest rate, this is allowed – and you can add to it then. You just can’t open another for new money only.

Your growth is tax-free in a Lifetime ISA

The Lifetime ISA is, well, an ISA – an individual savings account – which is a place to save where the interest you make is tax-free.

You can put up to £20,000 in ISAs in this tax year – and the money you put in your LISA will count towards that.

So if you put £4,000 in the LISA this tax year – on top of which you’ll get a 25% state bonus – you’ll be able to put £16,000 into other ISAs.

The bonus you get doesn’t count towards the year’s ISA allowance.

Can I transfer cash from other ISAs in to my Lifetime ISA?

If you already have an ISA, some providers let you transfer money from that into your Lifetime ISA (even if your other ISA isn’t a Lifetime ISA). Even then though, you can only transfer £4,000 from other ISAs into the LISA in any one tax year (this includes Help to Buy ISAs).

As with any ISA transfer, anything you’ve moved from previous years’ ISAs does not affect your overall current tax year’s contribution.

For instance, if you transfer £4,000 into a LISA from a previous year’s ISA in the 2021/22 tax year, you’d still be able to deposit £20,000 into a cash ISA, stocks & shares ISA or an innovative finance ISA (or a split between two or three of these) within the same tax year, but you’ll have used up your LISA allowance for that year.

You'll pay a penalty if you withdraw the cash

Under the normal LISA rules, you can take some or all of your cash out of a LISA before age 60 even if you’re not buying a property – but you’re charged 25% of the amount withdrawn.

The rules are the same for partial and full withdrawals – here’s how they work in practice…

Withdrawals completed after 5 April 2021 have a 25% penalty, equivalent to a loss of just over 6%. At first glance the fact you’ve had a 25% bonus added and then a 25% penalty would seem to leave you back where you started. Yet unfortunately the maths doesn’t work like that… Imagine you saved £1,000 by April 2021 and so got a £250 bonus (due in May). So you’ll have £1,250 total (ignoring interest, for ease). If you withdrew it in June, and closed the account, the 25% penalty would be £312.50. So you’d get £937.50 back.

In effect, the maths means that withdrawing for reasons other than buying your first home or retirement loses you 6.25% of what you contributed.

You don’t pay the withdrawal charge if you die or are terminally ill.

You can easily open and start contributing to a Lifetime ISA today.


The value of your investments and the income from them can go down as well as up, you may get back less than you invest.  Tax treatment depends on individual circumstances and all tax rules may change in the future.  None of the above information should be construed as a personal recommendation or advice.  If you are unsure about the suitability of an investment or pension product you should speak to an authorised independent financial adviser.

Ready to get Started?

Open a new LISA

Open your account through our automated application process and then fund your account with as much as you wish to deploy or set up a Direct Debit to pay one off or regular premiums.

Transfer an Existing Account

If you have an account with another provider you can transfer it to us. Open an account then provide us with the details of your accounts and we will take care of it from there.

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