Definition
Eligible savers can contribute up to the statutory annual limit and receive a government bonus. For a first-home withdrawal, current rules include a property-price cap, a minimum period since the first payment, purchase with a mortgage and payment through a conveyancer. An unauthorised withdrawal charge can apply.
Practical example
Two eligible first-time buyers purchasing together can each use their own LISA if both satisfy the rules.
Why it matters
Check the property price, account age and conveyancer process before relying on the funds for exchange or completion.
Lifetime ISA first-time buyer guideSource and review
Reviewed 16 July 2026. Product criteria and rules can change.
GOV.UK: Lifetime ISADiscuss your mortgage with a broker
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