LISAs - should I wait until March budget?

miloszs

Hi everyone!
Me and my partner want to start saving for the flat deposit using Lifetime ISAs but according to the news there might be changes coming in the March budget from the Chancellor.

Would it be wiser to open LISA now or wait until these changes are announced? I wouldn't want to open it now and then be at a worse position if these changes do not apply to the accounts open beforehand.

Thank you everyone for your help!

Albermarle

Probably the changes ( if there are any ) will be for the better. However you might  as well wait and see.
If you do decide to go ahead, do not wait until the very last few days at the end of the tax year as all ISA, savings, investment providers get busy around then.

eskbanker

miloszs said:

according to the news there might be changes coming in the March budget from the Chancellor

Specifically which news sources have you been reading and how credible do you feel they are?

What leads you to consider that those who've already opened accounts could be penalised?

If you think that could be the case then there's nothing stopping you from waiting until after the budget and opening then, although conversely it's presumably possible that the scheme could be scrapped?

masonic

I can't see the downside of opening one with £1 now and then topping up on the basis of changes (or lack thereof) in the budget.

400ixl

I would open one with £1 to get the 1 year clock running. This gives you maximum flexibility on when you can actually take money out in the future.