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Lifetime ISA: Fast facts

March 2020


Categories: Lifetime ISA

What does LISA stand for?

The Lifetime ISA.

What’s the big appeal?

The government will add a 25% bonus to what you invest, up to £1,000 a year on your maximum £4,000 investable allowance until you are 50.

Can anyone open a LISA?

No, you must be aged 18–39.

But if you have generous benefactors in your life, they can contribute to your LISA (cough – calling all affluent and benevolent parents and grandparents).

What about the drawbacks?

Your LISA must be used either to buy your first home (under the value of £450,000), otherwise you can access it penalty-free from age 60.

Can I combine a LISA with other ISAs?

You can invest in a LISA and use the rest of your annual tax-free ISA allowance of £20,000 per year.

Why should I choose an EQi LISA?

EQi puts you in control of your investments. We give you the tools and insight needed to make decisions about where to invest, based on your financial goals and attitude to risk. Plus, we have the lowest custody fee in the market at 0.2%*.

Learn more about the EQi LISA

 

* Accurate as of March 2020.

Author: EQi Categories: Lifetime ISA