Lifetime ISA House Purchase Calculator 2026
Calculate your Lifetime ISA bonus for buying your first home. Save up to £4,000/year, get 25% government bonus (up to £1,000/year). Property limit £450,000. Penalty for non-qualifying withdrawals.
Lifetime ISA (LISA) First Home Bonus Calculator
The Lifetime ISA pays a 25% government bonus on contributions up to £4,000/year. Use it to buy your first home (up to £450,000) or for retirement from age 60.
Frequently Asked Questions
What is the Lifetime ISA?
The Lifetime ISA (LISA) is a savings account where the government adds a 25% bonus on contributions up to £4,000/year. You can use it to buy your first home (up to £450,000) or access it tax-free from age 60 for retirement.
How much can I save in a Lifetime ISA?
Up to £4,000/year, with a 25% government bonus (£1,000/year maximum). This is separate from the overall £20,000 ISA allowance. You can open a LISA if you are aged 18–39.
What is the LISA withdrawal penalty?
If you withdraw for any reason other than buying a qualifying first home or after age 60 (or terminal illness), you pay a 25% penalty on the full withdrawal. This is 6.25% more than you contributed (because the 25% penalty is applied to the total including the bonus).
What is the LISA property price limit?
£450,000 for any property anywhere in the UK. This is the same as the London Help to Buy ISA limit. Properties over £450,000 cannot be bought using a LISA.
Can couples both use Lifetime ISAs to buy together?
Yes — both buyers can use their individual LISAs toward a joint purchase, as long as both are first-time buyers and the property costs £450,000 or less. Combined bonuses can be up to £2,000/year (£1,000 each).
How does the LISA bonus compare to Help to Buy ISA?
Both pay 25% bonus. Key differences: LISA: higher annual allowance (£4,000 vs £200/month HTB), higher property limit (£450,000 everywhere vs £250,000/£450,000 in London), withdrawal penalty for non-qualifying withdrawals, also usable for retirement. Help to Buy ISA: closed to new applicants since December 2019.
When is the LISA bonus paid?
The 25% government bonus is paid monthly (approximately 6-8 weeks after each contribution) directly into your LISA account. You do not need to wait until purchase to receive it.
Is the LISA better than a pension?
For higher-rate taxpayers, a pension usually gives better tax relief (40% vs 25% LISA bonus). For basic-rate taxpayers, the comparison is closer. However, LISA funds can be used earlier (for a first home) and are more accessible. Consider both if under 40.