You can contribute up to £4,000 a year up until you turn 50 – this counts as part of your annual ISA allowance of £20,000. You can only pay into one LISA each tax year, but you can open multiple cash and stocks and shares versions over time. For example, you could open and pay into a Stocks and Shares LISA one tax year, and then open and pay into a Cash LISA in the tax year after that, and so on.

The government will give you a 25% bonus on contributions. So if you pay in the maximum every year, you'll get £1,000. In other words, for every £4 you put in, you'll get an extra £1 on top.

If you’ve maxed out contributions in your pension and want to save more, a LISA could be a good option. But remember that if you choose a LISA instead of a qualifying scheme, workplace pension or personal pension, you may lose employer contributions, and your entitlement to any means-tested benefits may be affected. Not sure what's best for you? Book a free call to speak to our wealth experts. 

Yes, you can withdraw money for free in three circumstances: to buy a first home that's £450,000 or less, when you turn 60, or if you're terminally ill. Withdrawing at any other time means you’ll pay a 25% government charge.

Yes, you can withdraw from multiple Lifetime ISAs at the same time to buy your first home. However, you will need to wait at least one year from the date of your first payment into each account, or you'll pay a 25% government withdrawal charge.

If you're buying with somebody else who also has a LISA, you can use both as long as you're buying a property for £450,000 or less. Learn more about using a LISA to buy a house.

Yes, it's simple to do on our website – but not currently possible on our app. Go to ‘Transfers’ in the left-hand sidebar of your online dashboard, fill out the transfer form, and post it to your current provider. We'll work with them to take care of the rest, and let you know when the transfer is complete – transfers usually take around three weeks.