Lifetime ISA questions.

Rscott93

I recently opened a Lifetime ISA with Skipton Building Society.

Does anyone know if the money I put in and the 25% I receive on top can be spent on any type of living property? I.E does it need to be a new build?

Also, I am aware I can pay £4,000 into it every year to receive the £1,000 contribution. Is the contribution paid at the end of every tax year, or monthly depending on what I have paid in?

Many thanks.

george4064

You're better of posting/reading here: https://forums.moneysavingexpert.com/discussion/5431681/lifetime-isas-guide

Rscott93

Awesome! Answers to both my questions were in the guide, thanks!

CLevy

Hi there,

I have £2000 in my LISA. However, due to HMRC issues, I cannot get my bonus. I want to withdraw my money (I know I have to pay the 5% penalty fee) but as I didn't get the bonus, surely I don't lose 25% also? As that's my money they'd be taking, not taking the Gov money back.

Hopefully someone can help!
Thanks.

Alexland

CLevy wrote: »

I have £2000 in my LISA. However, due to HMRC issues, I cannot get my bonus. I want to withdraw my money (I know I have to pay the 5% penalty fee) but as I didn't get the bonus, surely I don't lose 25% also? As that's my money they'd be taking, not taking the Gov money back.

Have replied to your same posting in the main LISA guide thread
https://forums.moneysavingexpert.com/discussion/comment/74528046#Comment_74528046

Alex.