Lifetime Isa for 18 year old

tallgirl_3

Hi, My 18 year old son wants to start investing in a lifetime isa. He's looking at Hargreaves Lansdown?.. Apparently they pay in 25%..any advice would be good! Thanks 

Albermarle

It is the government that pays in the 25% not HL . 
A full explanation is available on this website .
Lifetime ISAs: free £33,000 towards your first home or retirement - MSE (moneysavingexpert.com)

RacingDriver

He can save up to £4,000 per year in a Lifetime ISA with 25% being added by the Government (rather than the platform).

If he is thinking about using the Lifetime ISA to save for a house purchase I would be thinking about how far in the future this would be as if less than 5 years a cash Lifetime ISA may be better to prevent a large drop in investments just when the funds are needed for the property purchase.

https://www.moneysavingexpert.com/savings/lifetime-isas/

grumiofoundation

Technically it’s the government that pays the 25% bonus.

The money in lifetime ISA can only be withdrawn penalty free for a house purchase (that’s meets rules see links below) or at 60.

Investing carries risk. If saving for a house investing (as opposed to saving in cash lifetime ISA) may not be the best option. 

https://www.moneysavingexpert.com/savings/lifetime-isas/
https://www.gov.uk/lifetime-isa

Not sure exactly what advice you are looking for, so may not have answered. Hope the above helps. 

tallgirl_3

Thank you both