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It’s worth noting with LISAs, you get your 25% government bonus up front, so if you pay £4000 in you get £1000 bonus up front (which is the max for a single tax year).
This is great if you intend to buy a house in the near-mid term but should your plans change and you need to withdraw that cash you are penalised 25% of the balance, so for example, if you paid in £4000, got the £1000 bonus then decided to pull out you would only receive £3750, you’d pay a £250 penalty in effect.
This is obviously not an issue with help to buy as there’s no penalty but you don’t ecru the bonus as quickly.
mcmyk
thanksbye
@hugo7 From my research, I think with the help to buy isa, if you don't use it on a house, you still get the interest when you cash out tax free, just not the gov's contribution of 25%. I also think the scheme ends in like November so I should really get into one, even just with £100 to start, ASAP.
The stipulations are limiting indeed