Can I have both a Help to Buy ISA and a Lifetime ISA?
You can hold both a Help to Buy ISA and a Lifetime ISA. These can be with different providers. You can also pay into both types of accounts during the same tax year, but you’ll only get the government bonus on one of them when you buy your first home.
For example, you could use the bonus from your Help to Buy ISA when you buy your first home. Then, you could use your Lifetime ISA (and its bonuses) for retirement when you turn 60.
Just remember, the bonuses for a Lifetime ISA and Help to Buy ISA are paid differently:
- For a Help to Buy ISA, you receive a 25% government bonus based on what you save, up to a maximum of £3,000. It’s paid to you when you reach the completion stage of buying your first home.
- In a Lifetime ISA account, the 25% bonus can be up to £1,000 a year. But unlike a Help to Buy ISA, the bonus is paid 2-8 weeks after you’ve paid in, directly into your Lifetime ISA account. Learn more about when the Lifetime ISA government bonus is paid.
Keep in mind that you can no longer open new Help to Buy ISAs, so this question only applies if you've already opened a Help to Buy ISA.
You also have the option to transfer your Help to Buy ISA into a Lifetime ISA. Learn more about Lifetime ISA transfers.
Read more about how many ISAs you can have.