Difference Between Help to Buy ISA vs Lifetime ISA 🏡 (EVERYTHING YOU NEED TO KNOW)

In today's video, we'll talk about everything you need to know about the Help to Buy ISA and Lifetime ISA (Tax-free savings account).

#HelptoBuy #LISA #ISA

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If you’re thinking about taking an ISA out, you’ll want to be fully informed on what is best for you. For first-time buyers, there are plenty of ISA savings options out there, and some will work better for you than others. Depending on your financial situation, lifestyle, habits, and other variables, a Help to Buy ISA may be preferable to a Lifetime ISA (and vice versa).

Ultimately, your choice needs to be an informed one, which is why I've created this video for a detailed comparison between Help to Buy ISAs and Lifetime ISAs :)

Thank you for watching! Don't forget to LIKE & Subscribe!

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Time Stamps:
0:00 - Intro
1:11 - Help to Buy ISA
3:03 - Lifetime ISA (LISA)
5:11 - Comparison

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DISCLAIMER: The views and opinions shared on this channel are for informational and educational purposes only. This is not financial advice. Always do your own research and due diligence before investing.

Tags:
Help to Buy ISA vs Lifetime ISA (LISA), Help to Buy ISA, Lifetime ISA (LISA), ISA, First House Deposit, Savings, ISA UK, MoneyBox, First Time Buyers

[jasonswife]

Can i have a help to buy isa and lifetime isa and pay in them both in the same year?

I opened a help to buy for my daughter just before it closed. We don't have any plans for her to buy a house in the next couple of years.
Are there any benefits and is it possible to have a help to buy and LIsa open at the same time and pay into them both in the same year? e.g could she pay £4000 in the LISA and £2000 in to the Help to buy?
I know you can only get the bonus from 1 to use on the property so i'm If she saved £4000 per year in the help to and then used that to buy her house eventually in say 5 years, the bonus would be higher than she could ever get in the help to buy. However, the interest rate on the help to buy is better than a current account or any saver at the moment. So, i'm thinking to continue to pay into the help to buy as well. BUT, would she loose all the interest that she has gained on the help to buy when she finally withdraws it after 5 years or in 2030 or is it just the gov bonus that she would loose? Thank you.