A short YouTube segment by Ndubuisi 'Andy' Egwim explaining the Lifetime ISA (LISA): it offers a 25% government bonus on contributions up to £4,000 per year (a £4,000 contribution yields a £1,000 bonus). The LISA can be used for saving toward a first home (subject to a £450,000 maximum purchase price) or retirement.
25% government bonus.
£4,000 per year.
£1,000.
£450,000.
Now, if you get the Lisa, the Lisa offers a 25% government bonus on contributions up to £4,000 per year. What this means is that you can save money into this account for either buying your first house or for your retirement. And the government will match whatever you put into account into the account. They'll match it 25%. So if you can put up to the maximum £4,000, you're going to get a thousand pounds. But remember, the maximum house price you can buy with using a lifetime ISA is £450,000. So for those of us that live down in the south or you live in London, that means you have to find a house less than 450,000 if you want to use the lifetime. Isaac.
