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Lifetime ISA

An extra boost towards your first home or later life

Open a Lifetime ISA

What is a Lifetime ISA?

A Lifetime ISA is a flexible 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 an extra 25% from the government of up to £1,000 a year.

How much can I contribute?

You can contribute up to £4,000 each tax year and the government will add a further 25%. So for every £4 you save, you get £1 extra - up to £1,000 per tax year.

You need to be between 18 and 39 to open a Lifetime ISA. But you can still pay in – and get the government bonus – until you turn 50.

Tax rules can change and their benefits depend on your circumstances. Lifetime ISA allowance forms part of the overall £20,000 annual allowance.

Contribute up to


each tax year

each year and receive
a government bonus of

and receive a
government bonus of


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 then.

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

The annual charge for holding investments in a Lifetime ISA is never more than 0.45%. Your dealing and other charges will depend on the investments you choose and will apply in addition to our annual account charge.

See all HL Lifetime ISA charges


Open an HL Lifetime ISA

Once you've decided you'd like to open a Lifetime ISA, it takes less than five minutes to get started.

You can start a Lifetime ISA with £100 or from as little as £25 per month.

You'll just need a debit card and your national insurance number to hand.

Open a Lifetime ISA

Want to transfer an existing ISA to us?

Just let us know and we'll take care of the rest.

Transfer an existing ISA

Your investment options

  • More than 2,500 funds
  • UK and overseas shares
  • Investment trusts, bonds and exchange-traded funds (ETFs)

You can also hold cash in your Lifetime ISA.

Find out more about interest rates

Looking for investment ideas?

With a Lifetime ISA your investment choice will probably depend on when you need to use the money. Less than five years, then cash is likely to be your best option. But if you're planning to invest for longer than five years, you might want to think about the stock market.

With investing, the potential returns are higher, though you can also make a loss.

See investment ideas

Learn more about Lifetime ISAs

  • When can I take money out of my Lifetime ISA?

    You can withdraw your money tax free when you’re ready to use it for an eligible house purchase (worth up to £450,000), after you turn 60, or if you are terminally ill. The Lifetime ISA must be opened for 12 months from the date of the first payment.

    You can take money out at other times too (including in the first 12 months), but there will usually be a 25% charge from the government. This could mean you get back less than you put in.

  • What is an eligible house purchase for a Lifetime ISA?

    You’ll need to have had your Lifetime ISA for a full year, and you’ll need to be a first-time buyer.

    The house you’re buying has to be in the UK and cost £450,000 or less. This is just the house price and it doesn’t include fixtures and fittings. It also needs to be your main residence. If it’s still being built, it’ll need to be your main residence as soon as it’s ready for you to live in.

    You’ll need to be buying the house with a mortgage, regulated home purchase plan or through a shared ownership arrangement. If you’re buying a house with cash, you can still use your Lifetime ISA money. But you’d have to pay the government withdrawal charge, which means you could get back less than you put in.

  • When is my Lifetime ISA open?

    Your Lifetime ISA is opened from the date you pay money into it – either with a lump sum, direct debit or from a transfer. Direct debit is on the 7th, or the next working day, each month.

  • Who qualifies as a first-time buyer?

    Your Lifetime ISA is opened from the date you pay money into it – either with a lump sum, direct debit or from a transfer. Direct debit is on the 7th, or the next working day, each month.

  • How and when do I get the government bonus?

    We claim the government bonus for you and add it to your Lifetime ISA. We’ll do this as soon as possible each month and you should see it in your account in four to nine weeks from the date of your contribution. Please note, the bonus will be added to your Lifetime ISA as cash and you can just place your investment instruction when you’re ready. This can be easily done online, over the phone or in writing.

  • Can I open a Lifetime ISA if I already have other ISAs?

    Yes, you can open and add money to other types of ISAs (Cash ISAs, Stocks and Shares ISAs or Innovative Finance ISAs) alongside your Lifetime ISA. You’ll only be able to save into one Lifetime ISA each tax year.

    You can contribute up to £20,000 across all your ISAs in the 2021/22 tax year, with up to £4,000 in your Lifetime ISA. The government bonus doesn’t count towards the £20,000 overall limit or the £4,000 Lifetime ISA limit.

  • Can I open a Lifetime ISA in joint names?

    You can only open a Lifetime ISA in your name. This is the same with all ISAs. But each adult under 40 can open a Lifetime ISA. So first-time buyers buying together could both use their Lifetime ISA and bonus towards their home.

  • How can I use a LISA to save for later life?

    If you don’t need a LISA to save towards your first home, you can use it towards your retirement (after age 60). You’ll get the same top up from the government (25%) on top of any contributions you make until your 50th birthday.

    A LISA should be seen as a complement to a pension when saving towards later life. But you should note that a pension is often the better option, especially if you receive contributions from an employer or you’re a higher rate taxpayer.

    If you decide to opt out of your workplace pension to pay into a LISA, you won’t benefit from any employer-matched contributions and it may affect your current or future entitlement to means-tested state benefits.

Consistent and reliable approach. When I came to use my Lifetime ISA to purchase my first home, the information and service I received couldn't have been better




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