22/12/2025
With potential changes announced in the budget, you might be wondering if it’s worth opening a Lifetime ISA…
Here’s a quick guide to the plus and minus points of the current product for first time buyers:
✅ You get £1 for every £4 you put in, up to a max of £1,000 free for every £4,000 each year
❎ You’ll need to have save for a year before you using it – not great if you’re looking to buy ASAP
✅ Anyone can benefit from the 25% bonus on their savings up until age 50
❎ If you don’t use all your funds for a deposit, you can’t access them again until you’re 60
✅ It’s available to anyone between the ages of 18-39
❎ Your first home can’t cost more than £450k
However, the government are now considering introducing a new first time buyer product which only pays the bonus when you buy a house, meaning there’s no withdrawal charge if your situation changes, similar to the old Help to Buy ISA 🤔
For more info, to chat through if it’s right for you, or for help getting on the property ladder, get in touch!
www.beewisefs.co.uk
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