Every Lifetime ISA gets the same government bonus, so the choice of provider comes down to what the account holds and what it costs. This page doesn’t list named accounts: it sets out how to choose one.
Cash or stocks and shares
A Lifetime ISA can hold cash, stocks and shares, or both, depending on the provider.
| Your goal | Usually suits | Why |
|---|---|---|
| A first home in the next few years | Cash | The balance can’t fall just before you buy |
| A first home further off | Either, or cash nearer the time | Investments have longer to recover from a fall; moving to cash as the purchase gets close protects the deposit |
| Later life, from age 60 | Stocks and shares | Decades to invest, with the risk that it falls in value |
Investments can fall as well as rise, and the FSCS doesn’t compensate for falls in value. See cash or stocks and shares ISA for the trade-off in more detail.
What to compare
- Cash Lifetime ISAs: the rate. Compare it with the Bank of England’s averages for cash ISAs: 2.01% for a variable rate cash ISA in August 2026. Check whether part of it is a bonus rate for a limited time.
- Stocks and shares Lifetime ISAs: the charges. Look at the platform or account charge and the charges on the funds you’d hold, in pounds a year for your balance as well as in percentages.
- Transfers in. If you want to move an existing Lifetime ISA, or money from another ISA, check the provider accepts transfers in.
- How you pay in and manage it. Whether you can pay monthly, in lump sums, or both, and whether it’s app-only.
The bonus itself is the same everywhere: The government adds a 25% bonus to what you pay in, up to £1,000 a year.
Opening one
You must be 18 or over but under 40 to open one, and make your first payment before you're 40. You’ll need your National Insurance number, and you apply directly with the provider. You can pay into only one Lifetime ISA a tax year, up to £4,000, and that counts towards the allowance.
Moving to another provider
You can transfer a Lifetime ISA to another Lifetime ISA at any time with no charge, and the bonus goes with it. Use the new provider’s ISA transfer process rather than withdrawing: a withdrawal for any reason other than a first home, age 60 or terminal illness costs the charge (ISA transfers).
Related guides
- ISAs guide: the ISA types, the allowance and the main choices in one place
- Lifetime ISA guide: the rules, the bonus, and LISA or pension
- Lifetime ISA calculator: your bonus and balance by age
- Withdrawing from a Lifetime ISA: the charge, and when there isn’t one
- Cash ISA rates: the averages to compare a cash LISA against