Answers · UK 2025/26
Can I have a Lifetime ISA and a Help to Buy ISA at the same time?
You can hold both, but you can only use the bonus from one of them towards a first home purchase -- not both simultaneously. Help to Buy ISAs are closed to new applicants (since November 2019), but existing accounts earn interest and bonuses until 2030. Most first-time buyers now favour the LISA.
Full answer
The Help to Buy ISA (H2B ISA) closed to new applicants on 30 November 2019, but existing account holders can continue saving until November 2029 and claim the bonus until November 2030. The Lifetime ISA (LISA) remains open to new savers aged 18-39. **Holding both simultaneously** Yes -- you can hold a H2B ISA and a LISA at the same time. However, when you buy your first home, you can only use the government bonus from one of them: - Use the H2B ISA bonus: the government adds 25% of savings (max bonus £3,000 on £12,000 saved). - Use the LISA bonus: the government adds 25% annually (max £1,000/yr, lifetime bonus cap of £33,000 if you save from 18 to 50). You cannot 'double stack' both bonuses on the same purchase. **LISA rules for 2026/27** - Annual contribution limit: £4,000 (counts towards your overall £20,000 ISA allowance). - Government bonus: 25% (max £1,000/yr), paid monthly. - Must be opened before age 40. - Eligible to use for a property purchase up to £450,000. - Property must be your first home. - You must have held the LISA for at least 12 months before using it. - Withdrawal for any other purpose before age 60 incurs a 25% penalty on the full amount (including bonus), which in practice returns slightly less than you contributed. **Key LISA vs H2B ISA comparison** - LISA property price cap: £450,000 (UK-wide). H2B ISA cap: £250,000 (£450,000 in London). - LISA can also fund retirement (access from 60). H2B ISA cannot. - H2B ISA bonus paid on completion; LISA bonus available from exchange (useful for Scottish property purchases). **Recommendation in 2026/27** For most savers, the LISA is the stronger product for first-home purchase given the higher bonus ceiling and retirement fallback.
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This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.