Lifetime ISA

Get a 25% government bonus with this year’s £4,000 Lifetime ISA allowance.

Get a 25% government bonus with this year’s £4,000 Lifetime ISA allowance. See details.

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Important information - Investments can go down as well as up in value, so you could get back less than you put in. The information on this page isn't advice - please ask us for advice if you’re not sure which investments are right for you. Tax rules can change and Lifetime ISA benefits depend on your circumstances. You can withdraw money from a Lifetime ISA to buy your first home, or at age 60. Other withdrawals will usually mean a 25% government charge, so you could get back less than you put in. Using a Lifetime ISA for later life complements a pension.

What is a Lifetime ISA?

A Lifetime ISA is a flexible, affordable way to save and invest for your first home or later life. You can open one if you’re between 18 and 39 years old.

You can choose to save cash or invest in the stock market, and as with other ISAs, your money can grow free from UK tax. But the real benefit is a 25% government bonus worth up to £1,000 a year.

Open a Lifetime ISA

Download your guide to Lifetime ISAs

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“The Lifetime ISA offers an exciting and flexible way to save for your first home or later life.

If you're aged between 18 and 39, you can open a Lifetime ISA and get £1,000 from the government each year.

So, how does it work?

You can put in up to £4,000 a year, and the government will add a 25% bonus on any money you've saved before your 50th birthday. This means for every £4 you save, you get £1 extra - up to £1,000 each year.

After 12 months, you can use the money to buy your first home, worth up to £450,000. Or you can wait until your 60th birthday and withdraw the money tax-free.

In the Lifetime ISA, you can save as cash or invest in the stock market.

If you expect to use the money within five years, cash is likely to be your best option. However, if you're planning to save for more than five years, you may want to consider investing in the stock market, which could provide greater returns and help you reach your goal quicker. But bear in mind investing is higher risk and you could make a loss.

So, if you're looking for a flexible way to save for your future, the Lifetime ISA could be for you.”

Disclaimer:

Unlike cash, investments can fall as well as rise in value so investors could get back less than invested, especially over the short term (less than five years).

Withdrawals from a LISA before age 60, other than to purchase your first home, will be subject to a 25% penalty from 6 April 2018.

The LISA must be held for 12 months before the government bonus can be used to purchase your first home.

ISA rules can change and the benefits will depend on individual circumstances.

If saving for retirement, you should ensure you are getting the maximum benefit offered by your employer first.

Savings in a Lifetime ISA may affect your entitlement (if any) to means tested state benefits.

This is not personal advice, if you are unsure of the suitability of any investment you should seek advice.

NEW: Trading Offer

What would you do with £100 of free trades? Get £100 back on online trading charges until 21 June. Terms and other costs apply.

Open a lifetime isa

Why a Lifetime ISA?

Allowance - contribute up to £4,000 each tax year. This forms part of the overall £20,000 ISA annual allowance, so if you put in the full £4,000 you can put up to £16,000 in other ISAs.
Tax - any growth is free from UK tax. Tax rules can change and their benefits depend on your circumstances
Bonus - get a 25% bonus on contributions, effectively £1 extra for every £4 you save
Long-term - while you need to be between 18 and 39 to open a Lifetime ISA, you can still pay in – and get the government bonus – until you turn 50.

Why open a Lifetime ISA with Hargreaves Lansdown?

Security - we’re a FTSE-listed company and look after over £142 billion for 1.8 million clients
Ease - check your investments anytime online or with the HL app
Choice - pick your own investments or choose one of our ready-made portfolios
Expertise - investment ideas from our analysts
Support on hand - Bristol based helpdesk

Invest by Direct Debit

Add money to your Lifetime ISA with a monthly Direct Debit
Invest automatically, from £25 per investment
Take the emotion out of your decisions, so you won’t be tempted to try and time the market

See how it works

Add cash now, pick investments later

There’s often a lot to think about when it comes to making investment decisions. By learning more about topics like risk and diversification, you can give yourself a better chance of success over the long term.

If you’d like to make a start on this year’s Lifetime ISA, you don’t need to choose your investments straight away. You can add cash now, then decide where to invest when you’re ready.

Start your Lifetime ISA

Taking money out

After 12 months from the first payment, you can use the money to make an eligible house purchase for a property worth up to £450,000. Or you can wait until you're 60 and take your money out tax-free.

If you want to take money out before you're 60 and you aren't buying your first home, there's usually a 25% government charge. That means you could get back less than you originally put in.

Learn more about taking money from a Lifetime ISA in our Lifetime ISA FAQs

HL Lifetime ISA charges

No set-up or transfer-in charges
No charges to buy or sell funds
Annual charge of 0.25% to hold funds and shares (capped at £45 for shares)
Online share dealing from £5.95 to £11.95 per deal
See all HL Lifetime ISA charges

New

ANNUAL 0.25% ACCOUNT CHARGE

Transfer into the HL Lifetime ISA

You can transfer up to £4,000 from another (non-lifetime) ISA to an HL Lifetime ISA each tax year. You’ll get the 25% government bonus on the amount you transfer, up to £1,000. Unfortunately, we can’t currently accept transfers from other Lifetime ISAs.

If you want to use the Lifetime ISA to buy a home, just remember that if you do that in the first year of having your Lifetime ISA, you will have to pay the 25% government withdrawal charge.

Learn more about transferring

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Open a Lifetime ISA Download your guide to Lifetime ISAs

Terms and Conditions

1. Subject to these terms and conditions, you are eligible to receive £100 worth of free online share trades between 1 May 2024 to 21 June 2024 (the “Offer Period”). The offer includes deals in UK and overseas shares, investment trusts, exchange-traded funds (‘ETFs’), gilts, bonds and any listed security and applies to both existing and new HL clients. This offer does not apply to any other products, services or investments offered by HL.

2. How the offer works: If you place a trade online (via our website or mobile app) during the Offer Period, we will charge you your standard online dealing charge. Within 7 working days of the Offer Period ending (by or on 30 June 2024), we will refund you all online dealing charges up to a maximum value of £100 for the trades you made during the Offer Period. The offer includes the charge for a share-exchange (Bed & ISA and Bed & SIPP).

3. Any order placed before the Offer Period, such as a limit order or stop loss, which is triggered and then dealt in the Offer Period will have a charge refunded as part of the offer. Any charges for orders placed during the Offer Period which are triggered and dealt after the Offer Period has ended will not be refunded. Any deals placed after the Offer Period has taken place will have our normal charges applied.

4. If you use the full £100 entitlement during the Offer Period, our normal charges will apply to any trades you make after the £100 limit has been reached. If you use less than £100 worth of charges, any unused amount cannot be carried forward after the Offer Period has ended or transferred to another client or account.

5. Deals placed by post or telephone do not qualify for this offer. All government taxes and levies, including stamp duty, will still apply and will not be refunded. Our normal foreign exchange rates will continue to apply for overseas deals.

6. Refunds of charges for stockbroking will be made in the order of the deals placed by date and time and made to the account (e.g. an ISA or SIPP) where the deal was made. You cannot elect to have the refunds made to an alternative account.

7. We reserve the right to remove or suspend the offer if necessary, including for legal or regulatory reasons or otherwise, by posting a notice on our website. If the offer closes early, charges for qualifying deals already placed at the time of the posting of the notice will still be refunded.

8. We reserve the right to restrict or remove the offer for specific clients where HL believes a client may be misusing or otherwise wrongly taking part in the offer.

9. These terms are governed by the laws of England and Wales and subject to the exclusive jurisdiction of the courts of England and Wales.

10. This offer is provided by Hargreaves Lansdown Asset Management Limited, which is a limited company registered in England & Wales with the company number 01896481, whose registered office is 1 College Square South, Anchor Road, Bristol, BS1 5HL. References in these terms and conditions to “our”, “us” or “we” are to Hargreaves Lansdown Asset Management Limited.