When can I withdraw money from my Lifetime ISA?

You can withdraw money from your LISA account at any time. But you’ll only receive the full amount if you withdraw it under specific circumstances:

• When using the money to fund the purchase of your first home worth £450,000 or less, and bought with a mortgage
• When you’re age 60 or over to fund your retirement
• If you’re terminally ill

To use your Lifetime ISA to buy your first home, you need to contact your solicitor or conveyancer directly. They’ll then:

• Ask you to complete a declaration.
• Complete their own declaration.
• Send the completed forms to us.

If you withdraw cash from your Lifetime ISA for any other reason, you’ll have to pay the government withdrawal charge of 25%. This could mean you get out less than you put in.

If you’re willing to pay this withdrawal charge to withdraw money from your LISA, select ‘Withdrawals’ from within your account.

Remember:

If you want to keep your Lifetime ISA open, you’ll need to maintain a balance of at least £100.

If you want to withdraw your entire Lifetime ISA balance, you’ll need to email withdrawal@ajbell.co.uk and close your account.

Read more about how Lifetime ISAs work.