Tag: Lifetime ISA
Customers can transfer their Lifetime ISA from another provider and still qualify.
The Help to Buy ISA closes to new investors on 30 November.
Those aged 18 to 39 can open a Lifetime ISA (LISA) and earn as much as £32,000 on their savings as a government bonus, to put towards their first home or retirement.
In Q1 at the society 7.1 times more people opened a lifetime ISA than its sister product, the Help to Buy ISA.
The Nottingham said the adviser will compare thousands of mortgages from across the market and find the right deal.
In the next Budget the government may scrap Help to Buy for a Lifetime ISA since those on Help to Buy are struggling to remortgage, Gemma Harle, managing director of Intrinsic mortgae network, has predicted.
A lifetime ISA could contribute as much as 83% of the required retirement savings of today’s young adults (£578,000) if they start taking advantage of their allowance as soon as they are eligible, OneFamily has found.
Alanzo Seville, mortgage adviser at Capricorn Financial Consultancy, runs through the Budget from a mortgage adviser’s view.
Britons under the age of 40 will be able to save up to £4,000 a year into a new Lifetime ISA from next April with every £4 saved being matched with £1 from the government.