Martin Lewis has issued an important financial warning to people aged between 18 and 39. The Money Saving Expert has urged those in the age group who do not have a Lifetime ISA (LISA) to “get a pound in one now”, before the account is replaced by the new First Time Buyer (FTB) ISA in April 2028. The FTB ISA will allow people to save for a property or for retirement, as well as receive a 25% government bonus on up to £4,000 of savings. Mr Lewis has urged those eligible to register for a LISA before it’s too late. “If you've already got one open, even with just a quid, you can continue to use it,” he explained. “That's important because what they're suggesting is for first-time buyers, you'll be able to get the bonus on a LISA and the new first-time buyer ISA.”

Savers using the new ISA will not be hit by the same penalties for withdrawal as with the Lifetime ISA

The First Time Buyer ISA would give savers a bonus when purchasing their first home, similar to how the Lifetime ISA works

The government has confirmed it is replacing the hotly debated Lifetime ISA with a new product aimed solely at first time buyers

First-time buyers are set to get a new Government-backed savings scheme to help them get on the property ladder.

The government is changing the rules around cash ISAs and launching a new first-time buyer ISA - but is it all becoming a bit too much for people to get their heads around?

The personal finance expert said everyone turning 18 should do this within days of their birthday

Martin Lewis has issued an important financial warning to people aged between 18 and 39. The Money Saving Expert has urged those in the age group who do not have a Lifetime ISA…

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