ISA for first-time buyers

Our Lifetime ISA is what's known as a "stocks and shares lifetime ISA", which means we invest in the stock market. There's two funds to choose from, one is slightly riskier than the other but also has greater potential for your money to grow.

Both funds are "climate-friendly". We buy stocks and shares in companies that meet our high standards - we judge them on their carbon emissions and the morality of how they produce money. So, by choosing a OneFamily Lifetime ISA, you’re helping us to hold companies accountable for damage they’re doing to the environment. 

With a stocks and shares lifetime ISA you could see more growth than cash over the long term but, as with all investing, this approach does come with risk and you could lose money as well.

Find out more about our climate-friendly investments

You can put up to £4,000 into lifetime ISAs each tax year, which re-starts on 6 April.

If you make the most of this limit, you'll then get an extra £1,000 on top of your savings from the UK government.

The money you put into a lifetime ISA counts towards your overall ISA limit, which is £20,000 each tax year. So, if you do put £4,000 into a lifetime ISA, that will leave you with a £16,000 limit to how much you can pay into another ISA in your name.

Read more about the Lifetime ISA allowance

• If you use a lifetime ISA to save for your first home (or for after you turn 60), the government will top up everything you put in by 25%.
• You must have the account open, with money in it, for at least a year before you buy your first home.
• You must be aged between 18 and 39 (inclusive) to open a lifetime ISA.
• You can put in up to £4,000 each tax year (tax year runs April – April), until you turn 50.
• The property you use it to buy must be worth no more than £450,000.
• You must live in the property you buy.

If you do take money out of your lifetime ISA for anything other than buying your first home (unless you've turned 60), you will have to pay HMRC 25% of the money you withdraw. If you take all your money out, this penalty fee will be more than the government will have topped your lifetime ISA up by.