FAQs

How can I withdraw from my Lifetime ISA?

To withdraw from your Lifetime ISA (LISA), you need to contact us directly by
1. sending us a secure message from your account, or
2. calling our Customer Experience Centre on 0345 0700 720 (or +44 20 7015 4800 from mobiles and overseas); lines are open between 08:00 and 18:00, Monday to Friday excluding Bank Holidays

It is important to note that you can only withdraw from your LISA if you:
1. Are using the funds to purchase your first home (and the property is £450,000 or less)
2. Have turned 60 years old, or
3. Are terminally ill with less than twelve months to live

Your LISA must be open for at least 12 months before you can withdraw from it.

If you withdraw and don’t meet the above criteria, you will be subject to a 25% penalty on the value of the withdrawal meaning you could get back less than you invested. This penalty will also apply if you transfer money from your LISA to any other type of ISA.

- Submitted on 5th Apr 2021

Did this answer your question?