Important things to think about
Some ISAs are flexible, which means you can withdraw and pay back in throughout the tax year without affecting your overall annual ISA allowance. However, Lifetime ISAs are not flexible, so it will not be possible for withdrawals to be made and replaced without affecting your annual Lifetime ISA allowance or your overall ISA allowance.
If you close your Lifetime ISA after you reach age 40 you won’t be able to open a new one. If you intend to use your Lifetime ISA savings towards buying your first home or to save towards retirement, you may wish to leave a small amount in the account so you can continue to save in it in future.
You can continue to pay into your Lifetime ISA up to the day before your 50th birthday and will gain a bonus of up to £10,000 if you pay in your full allowance each year between the ages of 40 and 50.
Ready to apply?
View full product details of our Lifetime ISA and apply online now