First-timer or lifetimer?

Start saving for your first home or boost your retirement savings with our Lifetime ISA

Lifetime ISA

A Lifetime ISA (LISA) is a new way for younger investors to save for their first home or retirement. For every £4 you put in, the government adds £1 – up to a maximum bonus of £1,000 per year.

So a saver who puts £4,000 yearly into a Lifetime ISA from the age of 18 will get a generous £32,000 bonus, before any interest or growth (assuming these limits and LISA rules are unchanged).

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  • At a glance

  • Lifetime ISAs can be opened by savers aged 18 to 39

  • Contribute up to £4,000 p.a. into a LISA until you turn 50

  • Receive a 25% government bonus on what you pay in (up to £1,000 p.a.)

  • Withdraw money tax-free to buy a first home, or from age 60

A guide to Lifetime ISAs

Everything you need to know about investing in a Lifetime ISA

Important information: A Lifetime ISA is not for everyone. If you withdraw money before age 60, other than to purchase your first home, you will pay a government withdrawal charge of 25%. This may mean you get back less from your LISA than you paid in. Also, if you choose to save in a Lifetime ISA instead of enrolling in, or contributing to, your workplace pension scheme you will miss out on the benefit of your employer’s contributions to that scheme and your current and future entitlement to means tested benefits may be affected. Read more on Lifetime ISA risks and the key features document.

  • The benefits of our Lifetime ISA

  • Low-cost – deal from £1.50 and never pay more than £9.95 per online deal. View our LISA charges

  • Easy to manage – access your account online 24/7 and deal on the go with our mobile app

  • Regular saving – invest as little as £25 per month into your LISA

  • Customer support – we’re here to help and answer your queries with a UK-based customer services team, webchat and email support

  • Investment ideas – need a hand choosing your investments? You can get a few suggestions from our experts, or even let them do the hard work for you. Have a look at our easy investment ideas.

Open your Lifetime ISA and start saving today

You can open a Lifetime ISA easily online, and your account will be ready to use in just minutes. Read our key features and terms and conditions for more information.

Open a Lifetime ISA

Read about our charges

Accessing your Lifetime ISA

You can withdraw your money from a LISA without paying the government withdrawal charge:

  • When buying your first home – you can use some, or all, of your LISA to buy a home up to the value of £450,000, as long as you’re a first time buyer and buying with a mortgage. If you’re buying with a partner, both of you can save with a Lifetime ISA and receive the bonus.

  • From age 60 onwards – once you reach the age of 60 you can withdraw your entire LISA tax-free and spend it as you like.

If you have a terminal illness, you can withdraw all the money in your LISA without paying the government withdrawal charge. If you choose to withdraw money from a Lifetime ISA in any other circumstances, you’ll have to pay the 25% government withdrawal charge. This may mean you get back less than you originally saved.

Is a Lifetime ISA right for me?

With its generous government bonuses, a Lifetime ISA is a great way to save for a first home or later life. But if you plan to access the money for any other reason, you may want to consider investing instead into a Stocks and shares ISA, or cash ISA.

If you’re looking to save for retirement, you may want to consider a Lifetime ISA alongside a pension. You should carefully weigh up whether you want to save into a LISA instead of enrolling in a workplace pension scheme if it means losing the benefit of employer contributions. Your current and future entitlements to mean-tested benefits could be affected too.

Need help choosing your investments?

Then take a look at our investment ideas: easy, expert solutions to the question of where to put your wealth. Whether you’re after some fund suggestions, or want our experts to do the hard work for you, we can help.

Or if you want to choose your investments yourself, there's a huge range available – including shares, funds, exchange traded funds and investments trusts. Find out more by visiting our investment options page.

Help to Buy ISA and other transfers

You can transfer a Help to Buy ISA into our Lifetime ISA, and you'll get the 25% government bonus on it. Find out more about Help to Buy ISA transfers.

You can also transfer in a Stocks and shares ISA, a Cash ISA or another Lifetime ISA, and get the 25% government bonus. Keep in mind that transfers from a Stocks and shares or Cash ISA will count towards your annual Lifetime ISA payment limit.

We make investing easier

For nearly twenty years, AJ Bell Youinvest has helped people invest in the life they want to live. We’re part of AJ Bell, one of the largest investment platforms in the UK, with £50.7 billion in assets under administration.

Our award-winning ISAs

We're proud to have won many ISA awards – including 'ISA Provider of the Year' at the ADVFN International Finance Awards two years running.

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