Can I have a Help to Buy ISA and a Lifetime ISA?

You are allowed to hold and contribute to both a Help to Buy: ISA and a Lifetime ISA (LISA), however you can only get the government bonus for one of them.

These ISAs differ in how their bonus is paid. With a Help To Buy:ISA, you receive the 25% government bonus once you have completed the purchase of your first home. The bonus is based on what you have saved into your Help To Buy: ISA, up to a maximum of £3,000. With a LISA, the 25% government bonus is paid monthly directly into your LISA on any subscriptions you have made during that period.

Help to Buy: ISAs were discontinued in November 2019. If you have a Help To Buy: ISA, you can continue paying into it until 30 November 2029. You will then have one year (until 1 December 2030) to claim your government bonus.

- Submitted on 29th Feb 2020

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