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Lifetime ISA charges

There are always some underlying charges when investing in a stocks and shares Lifetime ISA, regardless of your chosen provider.

We like to keep things simple and straightforward, which is why we charge just one fee for managing your Lifetime ISA, the Annual Management Charge.

Our Annual Management Charge is 1.1% of the total value of your Lifetime ISA.

How our Lifetime ISA charges work

The Annual Management Charge simply covers the cost of managing your investment each year. The charge is calculated daily but you'll only pay it once a year, and it's applied to the fund as a whole, so it’s never deducted directly from your original investment.

There could be other costs involved with managing your investments, such as the cost of buying and selling investments to try and maximise your returns.

Our Key Information Documents for the OneFamily Global Equity Fund and Global Mixed Investment Fund provide an indication of different possible scenarios, and how this may affect your investment.

The total costs take into account one-off, ongoing and incidental costs.

Lifetime ISA minimum deposit

We believe that saving can always start small. That’s why all we require to open your account is a minimum £25 direct debit, or £250 lump sum.

Do these charges ever change?

Sometimes, these charges may change. This can happen if the costs of running the fund, or of providing account services to you, go up. We will always contact you in writing before making any changes. This forms part of our agreement, set out to protect your money and interests at all times.

Withdrawing early

We’d always recommend that you keep your money invested for at least five years or more. Money invested over five years or more can give investors the potential to see a better return. This is because you will have longer to ride out the fluctuations in the stock market. Shorter term investments subject to fluctuations in the market, could see losses.

It's also worth keeping in mind, if you withdraw money:

  • Within the first 12 months of opening a Lifetime ISA, or;
  • Before the age of 60 and not for the purchase of a first home

the withdrawal will be subject to a 25% Government Withdrawal Charge.

Find out more about LISAs here: What is a Lifetime ISA?

The value of stocks and shares can fall as well as rise, so you could get back less than was paid in. If you're not sure a stocks and shares Lifetime ISA is right for you, please contact an independent financial adviser.

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