Open a Lifetime ISA
Lifetime ISA application
Filling in the application takes about 10 minutes.
Before opening a Lifetime ISA, you should be:
- Comfortable choosing your own investments
- Confident making long-term investment decisions
- Free from significant debt (other than a mortgage)
- Clear on our charges and the tax benefits of a Lifetime ISA
- 18-39 years old on the date the first payment is made
- UK resident for tax purposes
If you’re not sure which investments are right for you, please ask us about
. There's no personal advice on our website.
To apply for an HL Lifetime ISA online you must be a UK resident. If you’re not resident in the UK, please contact us for more information. You should also check your details match those held by HMRC.
What you need to know before opening a Lifetime ISA
- Investments can go up and down in value so you could get back less than you put in. Any income your investments pay can change over time.
- Tax rules for Lifetime ISAs can change, and their benefits depend on your circumstances.
- The bonus will be paid within 4 to 9 weeks of the contribution.
- You can withdraw money from your Lifetime ISA for an eligible house purchase, from age 60 or during terminal ill health. You must have held a Lifetime ISA for at least 12 months after the first payment before you can make an eligible house purchase.
- If you withdraw money for any other reason, you’ll have to pay a 25% government withdrawal charge. This will be charged on the full withdrawal amount, so you could receive less than you have paid in.
- If saving in a Lifetime ISA instead of enrolling in, or contributing to, a qualifying pension scheme, occupational pension scheme, or personal pension scheme: (i) You may lose the benefit of contributions by an employer (if any) to that scheme; and (ii) Your future entitlement to means tested state benefits (if any) may be affected.
What you need to have to hand
- Your National Insurance number. You can find this on your National Insurance card, a benefit letter, payslip or P60.
- Your debit card details, if you’d like to open your Lifetime ISA with cash. The minimum amount is £100.
- Your bank details, if you’d like to set up monthly payments into your Lifetime ISA. The minimum monthly amount is £25.
By opening this Lifetime ISA, you agree to our terms, so please make sure you’ve read and understood our: , Terms and Conditions with Tariff of Charges (PDF) and Key Features (PDF) and the risks. Please contact us if you have any questions.