Last checked: 27 September 2026
Who can open one?
You must be aged 18 or over and under 40 to make your first payment into a Lifetime ISA. Contributions can continue until age 50, subject to the rules.
The contribution and bonus
You can contribute up to £4,000 each tax year. The government adds a 25% bonus, up to £1,000 a year. The £4,000 contribution counts towards your overall ISA allowance.
What can it be used for?
The account is designed for buying a qualifying first home or for later life. Other withdrawals can normally trigger a withdrawal charge, subject to the detailed rules and exceptions.
Cash or stocks and shares
A Lifetime ISA can hold cash or investments. The appropriate choice depends on timescale and risk. Money needed for a home purchase relatively soon may require a different risk approach from money intended for decades later.