Withdrawing from a Lifetime ISA
9 Support topics
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Can I use the Lifetime ISA to buy a home with someone else?
Yes! You can use your Lifetime ISA to buy a home with another person, regardless of whether or not…
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Can I use my Lifetime ISA for retirement?
You can pay up to £4,000 per tax year into your Lifetime ISA up until age 50, and you’ll…
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How can I use my Lifetime ISA to buy my first home?
You can use the amount saved in your Lifetime ISA towards your first home if: The property costs £450,000…
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How can I use the savings I have in my Lifetime ISA?
You can use the money saved in your Lifetime ISA for two purposes: Buying your first home For retirement…
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When can I use my Lifetime ISA for a first home?
Once your Lifetime ISA has been open for at least 12 months, you can withdraw your funds penalty-free for…
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What can’t Lifetime ISA funds be used for?
Your Lifetime ISA balance can only be used towards your exchange deposit or the completion of your qualifying property…
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Can I still use my Lifetime ISA after purchasing my first home?
Yes! Funds held in a Lifetime ISA can be used for the purchase of your first home and/or retirement…
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How long does a LISA house purchase withdrawal take if I have payments in progress?
Once you submit your solicitor’s details to us in Settings > Withdraw > LISA > Buying first home, we’ll…
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How do I make a penalty withdrawal from a Lifetime ISA (LISA)?
If you decide to withdraw from your Lifetime ISA for reasons outside of making a qualifying first home purchase…
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It's important you know
Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.
A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.
For Business Saver: T&Cs apply. Max one withdrawal per day.