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Lifetime ISA

Save for your first home or retirement in a Lifetime ISA and earn a 25% government bonus on what you pay in.

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Lifetime ISA (LISA) overview

A LISA is a type of savings account. It could be suitable if you're aged between 18 and 39 and saving to buy a first home, towards your retirement or both.

How much can you save?

You can save up to £4,000 in your LISA each tax year. It forms part of your overall £20,000 annual ISA allowance. For example, if you save £4,000 into a LISA, you can save or invest up to £16,000 in other types of ISAs.

What are the benefits of a LISA?

When you save, the government pays a 25% bonus on top of your contributions. This bonus is a maximum of £1,000 a year.

How much bonus can I earn?

If you pay in your full allowance each tax year, between the ages of 18 and 49, you can gain a total bonus of up to £32,000. When you turn 50, you’ll no longer be able to pay into your LISA or keep earning the 25% government bonus.

Can I withdraw from my LISA?

You can withdraw from your LISA after 12 months from your first payment in to buy a house with a purchase price of up to £450,000.

For any other withdrawals before the age of 60, a 25% government withdrawal charge usually applies. This means you’d get back less than you paid in.

How does the Lifetime ISA government bonus work and when will it be paid?

The government will pay a 25% bonus on top of your contributions up to a maximum of £1,000 each tax year.

For example, each year you pay in up to £4,000. The government pays up to £1,000, totalling £5,000.

Your payments in...

Your bonus is calculated on any payments you make into your account from the 6th of the month to the 5th of the following month inclusive.

...your government bonus

Your bonus will be paid into your account within 14 days of the 20th day of month two.

Your first home could be closer than you think

"The latest edition of our Skipton Group Home Afforability Index March 2026 research suggests there's green shoots of optimism for first-time buyers.

We're forecasting that buying affordability will start to improve over the next couple of years. At the end of 2025, the first-time buyer market was nearly 40% bigger than it was in 2008/09.

Opening and paying into a Skipton Cash Lifetime ISA could help you get closer to your goal of owning a home. And when you're ready to buy, we've created an innovative range of first-time buyer mortgages, that could help you get on the ladder."

Charlotte Harrison, CEO Home Financing

Ready to apply?

It’s easy to open our Cash Lifetime ISA. View full product details and apply online now.

Cash Lifetime ISA
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Legal Disclaimer

The Skipton Group Home Affordability Index is not a benchmark for the purposes of UK Benchmark Regulation, nor for the purposes of any other legislation or regulation. The Skipton Group Home Affordability Index is produced for information purposes only and must not be used or relied upon for commercial purposes or propery related decisions. We are not responsible for any decisions made based on this information.

Our new mobile app is coming

We’re gradually inviting members through our current app, so don't worry if your invite hasn't arrived yet. The new app is designed to make managing your accounts easier with a fresh look and features shaped by your feedback – plus more updates coming soon.

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