For planning our future

Lifetime ISA made easy

Invest towards your first home or retirement with a 25% government
bonus - that's an extra £1,000 for every £4,000 you save.

Find out more

Lifetime ISA Am I eligible? Why OneFamily Fund choices Apply

  • 25% government bonus on the money you invest

  • Available to 18-39 year olds

  • Apply and manage your Lifetime ISA online

  • Open with a £25 Direct Debit or £250 lump sum payment

What is a Lifetime ISA?

A Lifetime ISA in an individual savings account (ISA) designed to help towards buying your first home or retirement... or both!

  • Available to 18-39 year olds. You can continue to pay in until your 50th birthday.
  • Invest up to the current tax year limit of £4,000.
  • Receive a 25% Government bonus into your Lifetime ISA calculated based on the amount you pay in.
  • There are two types of Lifetime ISAs available - Cash or stocks and shares. OneFamily only offer a stocks and shares Lifetime ISA
  • Withdrawals can be made towards the purchase of your first home based in the UK, or for your retirement at age 60.

Tax advantages depend on individual circumstances and may change in the future. The value of stocks and shares can fall as well as rise, so you could get back less than was paid in.

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Am I eligible?

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Am I eligible for a Lifetime ISA?

Quickly check if you're eligible for a Lifetime ISA by answering the questions below.

Based on the current government rules Lifetime ISAs can only be opened by UK residents aged 18-39.

If you'd like to find our more about our other products please click on the button below.

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Great it looks like you would be eligible for a Lifetime ISA.

As you're currently employed, you probably have a workplace pension and your employer is therefore likely to make contributions on your behalf. Some employers also match contributions so you may want to consider saving more money towards your retirement this way.

Great it looks like you would be eligible for a Lifetime ISA.

If you're self employed, you may have a personal pension or other arrangement and be able to save towards your retirement this way. However, you could still take out a Lifetime ISA if your interested in benefiting from the 25% government bonus. It may also be useful if you've contributed the maximum amount each year to your pension or you have reach the lifetime allowance for your pension fund.

Both a pension and a Lifetime ISA may be an option for you, and you could contribute to either or both.

If you're not employed, you won’t currently have a workplace pension in place and you won’t be benefiting from employer-matched contributions. You can still contribute £3,600 each year to a personal pension.

Based on the current government rules Lifetime ISAs can only be used to purchase homes less than £450,000.

If you'd like to find our more about Lifetime ISAs please click on the button below.

Find out more
Great it looks like you would be eligible for a Lifetime ISA.

Before you consider your options, there are a few additional eligibility rules you should be aware of:

  • Your Lifetime ISA must be open at a minimum of 12 months before you can use the money for the purchase of your first home
  • The property you purchase must be based in the UK and must be your main residence (it can't be bought for buy-to-let purposes)
  • You will need to purchase your home using a mortgage
It looks like you are eligible for a Lifetime ISA.

However, as our stocks and shares Lifetime ISA is designed for a minimum saving term of at least 5 years you should consider your options.

There are also a few additional eligibility rules you should be aware of:
  • Your Lifetime ISA must be open at a minimum of 12 months before you can use the money for the purchase of your first home
  • The property you purchase must be based in the UK and must be your main residence (it can't be bought for buy-to-let purposes)
  • You will need to purchase your home using a mortgage
  • If you'd like to find out more about cash vs stocks and shares Lifetime ISA please click on the button below.
    • Find out more

Things to consider. Whatever you're saving towards, there are a few things you should consider before taking out a Lifetime ISA.

  • Any money you withdraw before you're 60, that is not for the purchase of your first home, will be subject to a 25% government withdrawal charge on total amount withdrawn.
  • If you decide to pay into a Lifetime ISA instead of a workplace pension you could miss out on valuable employer contributions.
  • Money in a Lifetime ISA could affect your entitlement to means tested benefits.

If you're not sure a Lifetime ISA is right for you, please contact an independent financial adviser.

About our Lifetime ISA

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Why choose a Lifetime ISA from OneFamily?

Being bombarded with dozens of fund options and complex charges can be confusing. That's why the OneFamily Lifetime ISA makes investing for your future as simple as possible.

  • We have two funds to choose from - a fund designed for the short term (at least 5 years) and one for longer term saving (at least 10 years).
  • Switch funds anytime, free of charge.
  • A simple 1% Annual Management Charge. An additional fund expenses charge of up to 0.3% also applies. Please refer to the product documents for details of other potential charges.
  • Easy to apply and manage online - at your fingertips 24/7

Before applying, it's important that you read the Lifetime ISA Important Information and Terms and Conditions documents to ensure you fully understand our product and whether it's right for you.

The OneFamily Lifetime ISA invests in stocks and shares. As with any investment, the value of money invested into a stocks and shares Lifetime ISA can fall as well as rise, meaning you could get back less than is paid in.

Why stocks and shares?

We invest in stocks and shares because we think that's the best way to grow your money.

Over every 18 year period in the last 50 years, stocks and shares have made more money than cash accounts (where the money is protected)*. Of course, good returns in the past don’t guarantee good returns in the future.

With stocks and shares we invest in the stock market, this can put your capital at risk. However, whilst cash accounts can offer greater security, the value can be eroded by inflation.

*Source: Barclays equity gilt study April 2017. Average annual real rate of return based on Barclays indices.

How we invest your money

You're 2 steps from applying

How we invest your money

When you apply for a OneFamily Lifetime ISA, you'll be given a simple choice of two funds. Just pick the one that best suits your needs. Don't worry if your goals change in the future, as you can switch funds at any time.

Global Equity Fund

Investment term

Investment term

Potential returns

Potential returns

Risk level

Risk level

To fully understand your fund, please read:

Key information document Fund fact sheet

Global Mixed Investment Fund

Investment term

Investment term

Potential returns

Potential returns

Risk level

Risk level

To fully understand your fund, please read:

Key information document Fund fact sheet

Get a Lifetime ISA

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Apply online

Important documents

Please download and read the relevant documents below before applying. They tell you all you need to know about a Lifetime ISA and how we invest.

Lifetime ISA Important Information

Lifetime ISA Terms and Conditions

Global Mixed Investment Fund Key Information document

Global Equity Fund Key Information document

Apply for a Lifetime ISA

Or call the team for more information

0344 8 920 920

Open 9am-7pm Mon-Fri, 9am-1pm Sat

Calls may be recorded and monitored for training purposes. Call charges apply. These are dependent on your provider's tariff and are likely to be more from mobile phones. For more information, please contact your provider.

Lifetime ISA FAQs

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