ISA Bonus

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I have £4000 in a normal savings account. I have just opened a Skipton Society LISA and thinking of also opening a help to buy ISA and transferring £2000 into each.
Is the bonus on the H2B ISA added annually or only on added when you are ready to buy?
If annually, would it be too late to qualify for the bonus? ( as would need three months to transfer the minimum of £1600)
Or would i get 25% annually of whatever is in there?
Is the bonus on the H2B ISA added annually or only on added when you are ready to buy?
If annually, would it be too late to qualify for the bonus? ( as would need three months to transfer the minimum of £1600)
Or would i get 25% annually of whatever is in there?

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The lifetime isa can be opened by anyone under 40 whether they own a property or not. You get a 25% bonus on what you save (i.e. a max £1k on £4k a year) but can only make penalty free withdrawals before age 60 if you are a first time buyer and use the proceeds to buy a home.
Both attract interest of course from the provider - assuming you take out a cash LISA (Skipton are the only providers). However most LISAs are stocks and shares based.
So you need to tailor your investment to the product.
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