How to open a Lifetime ISA (LISA) 
A lifetime ISA will help you to save for your 1st purchase much faster than a standard ISA thanks to the 
25% bonus you receive from the government on all savings in your ISA each year up to a maximum of 
£4,000. That’s an additional £1,000 for each £4,000 you save each year, turning your £4,000 into £5,000. 
The bonus is paid each if you have saved money that month, the bonus and savings can only be used 
for purchasing your first home or your retirement. Withdrawals for any events other than these will cause 
you to surrender your bonus and will incur a penalty. 
You must be a UK citizen and aged between 18 and 39 to open a LISA. Finding the best ISA is simple, 
using a search engine you can compare all Lifetime ISAs and then head over to the provider website to 
set up your LISA. 
They can then open your LISA with as little as £1 or contribute the maximum £4,000 limit upon opening. 
Once you have maximised the annual contribution of £4,000 you would need to wait until the 12-month 
anniversary of opening your account before contributing again. 
We recommend setting up a direct debit to your LISA so that you don’t miss a contribution and make 
your saving automatic. A top tip is to set your direct debit to come out on payday so that you’ve saved 
your deposit and then live of the money you have left each month rather than the other way round. 
Once you have saved enough for your deposit and wish to begin your property search. 
If a pair first time buyers wish to buy a property together they can each use their LISA and use 2 lots of 
bonuses. Here's an example to show you the power of the Lifetime ISA 
If 2 applicants can save £76.92 a week (the maximum deposit each week) for 12 months, they will have 
saved £4,000 each (£8,000 combined) after 12 months they will qualify for their 25% bonus so that 
£8,000 then becomes £10,000. A £10,000 deposit is enough for a 5% deposit on a £200,000 property. 
If you are looking to buy your first property in more than 12 months’ time, opening a Lifetime ISA is a 
must. Nothing will help you save faster as no other savings account will give you a 25% uplift. Plus its 
free money from the government so why wouldn’t you?!... 
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