Lifetime ISA

All topics Lifetime ISA When can I use my Lifetime ISA for a first home?

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 a qualifying property purchase. Your LISA counts as ‘open’ once you’ve made your first contribution. ⌛

Any withdrawals made before the account has been open for 12 months are subject to a 25% government withdrawal penalty (except in cases of terminal illness).

Please note we’re unable to confirm the property’s eligibility based on your individual circumstances. If you’re unsure if your house purchase qualifies for a penalty-free LISA withdrawal, we’d recommend speaking with an appropriately qualified conveyancer. You can also visit the Gov UK website here for more information.

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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.

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