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Martin Lewis urges 18-to-39s not to miss £1 opportunity
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.”
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inews.co.uk
How new First Time Buy ISA will work - and what it means for Lifetime ISA holders
Savers using the new ISA will not be hit by the same penalties for withdrawal as with the Lifetime ISA
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mirror.co.uk
New First Time Buyer ISA confirmed and it will replace Lifetime ISA
The First Time Buyer ISA would give savers a bonus when purchasing their first home, similar to how the Lifetime ISA works
