The Nottingham reports 60% MoM increase in LISA openings
The Nottingham has seen a 60% month-on-month increase in the number of customers opening a Lifetime ISA (LISA).
The Nottingham’s data also showed that over eight times as many of its members are choosing a LISA over a Help to Buy ISA since the start of the year, indicating the announcement of the Help to Buy ISA deadline (30 November) has led to first-time buyers exploring alternative offerings.
Jenna McKenzie-Day, senior product manager at the Nottingham, said: “A Lifetime ISA can help our members achieve their financial goals, whether it is for retirement or for their first home. We are delighted to be able to help them towards those aims with a new, increased rate as the leading high street LISA provider.
“Since we introduced the Lifetime ISA in August last year, it’s been popular with our members and we think its popularity will only increase when the Help to Buy: ISA deadline arrives. The Nottingham is passionate about helping people plan and protect their financial futures and Lifetime ISA is a great account for people to do that.”
Those aged 18 to 39 can open a LISA and earn as much as £32,000 on their savings as a government bonus, to put towards their first home or retirement.