Lifetime ISA

Get a quick answer to all your Lifetime ISA questions by viewing our frequently asked questions below.

I've been affected by COVID-19 (coronavirus), can I withdraw money from my LISA without a withdrawal charge? How can I fund my LISA? Who is eligible for a Lifetime ISA? How much can I invest? How do I apply for a Lifetime ISA? Is the Lifetime ISA right for you? When can I withdraw from my Lifetime ISA? How do I withdraw from my Lifetime ISA when I buy my first home? If I change my mind on having a Lifetime ISA, how do I close my account? I already have a Cash ISA - is that okay? Can I have more than one Lifetime ISA? When will the government bonus be paid to my account? If I withdraw from my Lifetime ISA and pay the 25% charge, will this apply to the amount I’m withdrawing or my full balance? Accessing my savings When I’m buying a house, what can I use the money for? When can I access my lifetime ISA savings? Can I use a lifetime ISA to buy a house with someone else? Are there any restrictions on the house I can purchase? How long do I have to complete my first house purchase after conveyancer receives funds? What if the house purchase falls through? How many times can my conveyancer request withdrawals from the Lifetime ISA before the house purchase completes? If I have a LISA and a Help to Buy can I use the bonus from both when buying my first home? What if I want to retire later? Is a Lifetime ISA a good way to save for my retirement? Can I transfer a partial amount to my Newcastle Cash Lifetime ISA from my previous Lifetime ISA provider? How long does it take to process a Cash Lifetime ISA transfer IN request? How long does it take to process a Lifetime ISA transfer OUT request? Can I transfer my ISA into a Lifetime ISA? Can my LISA transfer be processed electronically? Why can’t I send funds prior to my Lifetime ISA transfer being complete and will interest be paid on the additional funds sent in prior to the transfer? Why haven’t I received my outstanding government bonus yet? Can the Lifetime ISA be used in conjunction with other government schemes? If a have a Lifetime ISA and live in the property as my main residence am I allowed to rent the rooms out? What happens if the government withdraws Lifetime ISA’s from the market? How do I withdraw my funds for a property purchase? Where do I get an investor and conveyancer declaration form? I made an unauthorised withdrawal from my Lifetime ISA (LISA) due to Coronavirus, am I able to claim the charge back?