LISA and FTB ISA

GreenBlanket

If you currently hold a LISA, but will most likely not have purchased a home before the First Time Buyers ISA is implemented, will you be able to use both to purchase a property? If you can have both would this mean you can invest a larger amount of money each tax year, rather than the current £4,000 limit?

Exodi

AFAIK the details of the FTB ISA aren't confirmed yet - but I would bet the house that you will not be able to combine it with the LISA.

A few years ago, alongside the LISA, there was also a HTB ISA (not to be confused with the HTB Equity Loan scheme), which served a similar purpose (though the maximum house price was lower and the bonus was only added when it was redeemed). You couldn't use those simultaneously.

With that said - are you buying with a partner? Both of you can benefit from these schemes on the same purchase.

GreenBlanket

Thank you for the help.
I'm not planning on buying anytime soon but just looking to the future so could be with a partner or not.
My other thinking is that you could still add to the LISA but use it for pension rather than a first property, whilst using the new FTB ISA for a house and maximising government contributions on both. However, I would not have much time to build a large deposit with the FTB ISA.

Ed-1

https://forums.moneysavingexpert.com/discussion/6677718/lisa-and-ftb-isa

The details are still to be decided (at the Budget 2026) and are currently under consultation.

https://www.gov.uk/government/consultations/first-time-buyer-isa-consultation

Exodi

I stand corrected (thought it sounds like it achieves the same thing by only allowing you to contribute to one per tax year).

With that said, I definitely agree with that strategy - it would have been unfair to potentially make the FTB ISA more attractive, when there is a penalty for withdrawing from the LISA. But also prevents people double/triple-dipping on the bonus by contributing to a HTB ISA, LISA & FTB ISA at the same time!