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Everything you need to know about Cash Lifetime ISAs

Lifetime ISA or LISA

The Nottingham is offering customers the Cash Lifetime ISA

You'll probably hear the word LISA banded around a fair bit in the coming years. Don't be confused, it's not the latest trend in girls names (it’s actually pronounced Lie-sa), but a Government scheme that could help you get a £1,000 a year bonus on your savings*.

53% of 1,028 savers that we surveyed in October 2018 were not aware of the Lifetime ISA with a 25% Government bonus on savings.

If you're aged between 18 and 39, you can benefit from opening a Lifetime ISA and earn as much as £32,000 in free cash from the Government to put towards your first home or your retirement.

You can open an account within minutes online or you have the option of opening it at one of our branches.

Fee free mortgage advice will save you up to £249

And by opening your LISA with The Nottingham, after 12 months you automatically qualify for fee FREE mortgage advice (usually worth £249) through our Nottingham Mortgage Services advisers who will search 1,000s of mortgages, get the right match for you, explain the jargon and take care of the paperwork so you can move into your first home.

In the meantime, you can find out here what a LISA is, how it works and what you need to do to start benefitting.

Lifetime ISA explained

The Lifetime ISA is a great way for those aged 18-39 to save for their first home or for later life and retirement. It's a tax-free savings account that lets you save up to £4,000 every year.

Find out more

Mortgage calculator

Before taking out a mortgage it's a good idea to find out what your monthly payments might be. Our calculator will help you quickly work out how much your monthly mortgage payments could be.

Use our mortgage calculator

Applying for a Lifetime ISA

Applying for a Lifetime ISA couldn't be simpler. All you need to do is book an appointment at your nearest branch and fill in an application form. Read the full product details by clicking the link below.

Read the product details

Deposit calculator

Use our simple deposit calculator to get an idea of how much you need to save for your deposit. A bigger deposit can give you more options and lower rates. Plus, the bigger the deposit, the smaller your loan.

Use our deposit calculator

#LoveMyLISA

Thinking about opening a Lifetime ISA? Read some personal case studies here from some of our current Lifetime ISA members.

It's better to be a member

If you have a savings balance of at least £500, and have either held one of our savings accounts for at least the last 12 months or currently have a Nottingham Building Society mortgage, you can benefit from a range of offers.

Find out more about Member Rewards

As a member of The Nottingham you join an exclusive club

Qualifying members get a whole range of benefits from a fee free mortgage advice service to reduced estate agency fees. If you have a savings balance of at least £500, and have either held one of our savings accounts for at least the last 12 months or currently have a Nottingham Building Society mortgage, you can benefit from a range of offers.

What your Lifetime ISA can help you with

From saving for your first home to making sure your future is secure, a Lifetime ISA can help you achieve this.

Getting started with saving

The first port of call on your savings journey! This article will tell you all about the best first steps to take as well as providing key tips to start things the right way. Whatever you’re saving for, here’s all the things you need to know.

Get started here

First-time buyer's guide

Seriously, don’t buy your first home without consulting our first-time buyer’s guide. We try and cover all the things you need to consider when buying your first home. Complete with top tips and handy hints.

Read our guide here

Saving for the future

Whether you're paying into a work pension or are self-employed and don’t have access to a company pension scheme, you might want to consider a Lifetime ISA. However, you would need to take care not to dip into it to avoid penalties.

Find out more

Savings accounts explained

This breakdown of our savings accounts will help you find the product that’s right for you. This handy page provides all the information, in the simplest terms. Whether it’s fixed-rate, ISA or instant access – here’s all you need to know.

Learn more about savings accounts

Mortgages explained

Although we all know a mortgage is a loan to help you buy a property, are you familiar with the different types of mortgages that are available? Here we breakdown the different terms and what they mean to make things clearer for you.

Find out more

Will your pension be enough?

It’s inevitable that you can't work anymore but still need an income. The earlier you start saving for the future, the more flexible your retirement options will be. Here we help you try and understand if your pension will be enough.

Learn more

Lifetime ISA explained

If you're unsure about the benefits of a Lifetime ISA make yourself a cup of tea and spend two minutes watching our video which explains why LISAs could benefit you. Then pop into your local branch and talk to an adviser.

Watch the video here

Step by step mortgage guide

View our graphic to see the steps we'll take to get your mortgage application all the way through to completion.

View the guide

Retirement planning part 1

Watch the first part of our three part series on retirement planning.

Watch the rest of the videos