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  • FIRST POST
    • debtfreeonamission
    • By debtfreeonamission 8th Sep 19, 9:19 PM
    • 2Posts
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    debtfreeonamission
    Lifetime ISA bonus payout question
    • #1
    • 8th Sep 19, 9:19 PM
    Lifetime ISA bonus payout question 8th Sep 19 at 9:19 PM
    Hi all,

    I am hoping to put in for a mortgage in the next few months before the end of the tax year, and I have been saving in the Lifetime ISA the last 2 years. I havenít paid in this tax year yet. If I put the annual limit of £4000 in this month when would I get my 25% bonus? I read that itís now paid monthly? So then I would get it before I fingers crossed buy a property before March 2020?
Page 1
    • eskbanker
    • By eskbanker 9th Sep 19, 12:09 AM
    • 11,391 Posts
    • 14,142 Thanks
    eskbanker
    • #2
    • 9th Sep 19, 12:09 AM
    • #2
    • 9th Sep 19, 12:09 AM
    LISA bonuses work on monthly cycles not dissimilar to credit cards - the claim periods run from the 6th of one month to the 5th of the next, and bonuses will be paid within 28 days of the end of the period, so if you pay into a LISA between now and 5th October then you should receive the bonus around the end of October or start of November.

    It's been like this since the start of the last tax year (2018/19) so if you check back to when you last paid in and how long it took to receive the bonus then it should fit the above model....
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