Help-to-Buy vs Lifetime ISA
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Both ISAs offer a 25% bonus on the account's balance, which you can use towards your first home. BUT there are many differences in the small print. So which is best for you? We've compared the facts below to make your decision easier.
Comparison Table
| Help-to-Buy ISA | Lifetime ISA | |
| How much can you deposit each year? | £2,400 (and £3,400 in year one) | £4,000 |
| Do you have to make regular deposits? | Yes - Monthly | No - Deposit when you want |
| What is the max bonus? | £3,000 (takes 4 years 6 months) | £32,000 (takes 32 years!) |
| When is the bonus paid? | When you buy a home once the sale is complete | First bonus paid in April 2018 and monthly thereafter |
| What's the max property price? | £250,000 and £450,000 in London | £450,000 anywhere |
| When can bonus be used towards buying a home? | After you have deposited at least £1,600 | After the ISA has been opened for 1-year |
| Age limitations? | 16 years-old or older | 18 - 39 year-olds only |
| Is there a penalty for withdrawing? | No, but you won't get bonus | Yes, you won't get bonus and will lose 6.25% of your deposit |
Still confused? Take our 30-Second Test...
