Do you pay monthly into the Lifetime ISA?

4 replies
Found 24th Feb
Or is it monthly as in the Help to Buy ISA?

I can't seem to find this info apart from that you can pay maximum £4,000/year.

4 Comments

As far as I know you can pay in as you want - regularly or a lump sum, providing it doesn't exceed £4,000 in each tax year.

Original Poster

gslgregory

As far as I know you can pay in as you want - regularly or a lump sum, … As far as I know you can pay in as you want - regularly or a lump sum, providing it doesn't exceed £4,000 in each tax year.



Thank you.

I want to know is if there's a time limit to when you can start one. I have a credit card coming to an end next year, I want to use the same money to pay into an ISA. Just hoping there's not a window.

Original Poster

118luke

I want to know is if there's a time limit to when you can start one. I … I want to know is if there's a time limit to when you can start one. I have a credit card coming to an end next year, I want to use the same money to pay into an ISA. Just hoping there's not a window.



From Moneysavingexpert:

'If you'll reach 40 on or before 6 April 2017 you won't be eligible for a Lifetime ISA – so the earliest you could've been born to be eligible is 7 April 1977.

Yet even if you're born after that, remember you need to open it before you're 40 – so if you will be cutting it close, get your skates on. Once you open it you can keep contributing and get the bonus until you're 50.

If you're 40 or over, or will be on 6 April 2017 when LISAs launch, you've missed out. But you still have options.

If you've not yet bought your first home you may qualify for a Help to Buy ISA – there's no upper age limit to get one of these although you only have until November 2019 to open one.'

moneysavingexpert.com/sav…SAs

moneysavingexpert.com/sav…ISA
Edited by: "whoMODStheMODS" 24th Feb
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