Lifetime ISA

Thousands of savvy savers have already benefited from opening a Lifetime ISA. Are you one of them? 

If you're aged between 18-39 you could earn up to £1,000 per year in free cash from the Government (until your 50th birthday) to put towards your your first home or retirement. For every £4 you invest, you will receive a £1 bonus. 

The maximum you can save each tax year is £4,000. Your Government bonus is paid every time you pay in and we’ll claim it for you - up to £1,000 each tax year. You can withdraw money from a Lifetime ISA to buy your first home or at age 60. Any other withdrawals will usually mean a 25% Government charge, so you could get back less than you put in.

We're one of the few providers to offer Lifetime ISAs and we've made it super easy for you to open your account online, or if you prefer, you can visit one of our branches and open one there.

Benefit from fee free mortgage advice worth up to £249 

We're the only Lifetime ISA provider who will give you fee FREE mortgage advice when you are ready to buy your house. As a Lifetime ISA customer through our Nottingham Mortgage Services you automatically qualify for fee free mortgage advice worth up to £249 after 12 months. Our advisers 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.


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Account details

  • Open with £10

  • Available online or in branch

  • 25% Government bonus

  • Transfers in are not accepted

  • Deposit up to £4,000 per year

  • UK residents aged 18-39

  • Earn interest tax-free

Summary table

Account name

Lifetime ISA

Interest rates (AERs)
Annual interest 1.00% tax-free p.a./AER*

Tax status

Tax-free

Conditions for bonus payments

25% Government bonus, pay in up to £4,000 per year, only subscribe to one Lifetime ISA each year, available to customers aged 18-39

Withdrawal arrangements

25% withdrawal charge unless for an eligible reason as defined by HMRC

Access

Branch or Online

Additional information
If you save in a Lifetime ISA instead of enrolling or contributing to a pension scheme, you may lose valuable employer contributions. Entitlement to any means-tested benefits may be affected

Key product information

Download key product information

Apply for an account

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Talk to our expert mortgage advisers today

We'll take the stress away by managing the whole process to make sure your mortgage completes on time. 

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  • Opening an account
  • Managing your account
  • Rates & account details
  • Fee free mortgage advice

How to open


To open an account you must:
  • Be a UK resident
  • Saving for your retirement or your first home
  • Be aged between 18-39
  • Open account with £10 
  • Provide us with your National Insurance number
  • Meet our ID requirements and the HMRC eligibility checks

You can Open-Your-LISA-Account-Now

or you can call your local branch to find out how you could benefit from a Lifetime ISA.

Note: For the best user experience use Google Chrome as your internet browser.

Paying money in


Customers may deposit up to £4,000 each year. This counts towards your £20,000 ISA allowance for this tax year.

The minimum amount to open an account is £10.

Transfers in from other ISAs including another Lifetime ISA are not permitted.

Taking money out


Penalty-free withdrawals include:
  • the purchase of your first property (you must have held the account for more than 12 months) 
  • once you reach your 60th birthday
  • you are diagnosed with a terminal illness and have less than 12 months to live (evidence required) 
  • in the event of your death
For any other withdrawals (including transfers out to a non-Lifetime ISA product) after your 30 day cooling-off period a 25% withdrawal charge could be applied. This means that, where the withdrawal charge applies, as well as paying back the Government bonus payments, you will also lose some of your own savings and receive back less than you invested.

Your interest


We will pay your annual tax-free interest into your Lifetime ISA on 5th April each year.

Fee free mortgage advice

Buying your first home is stressful but we're here to help you as much as we can. As a Lifetime ISA customer you are eligible to fee free mortgage advice through our Nottingham Mortgage Service after 12 months.

Our highly qualified mortgage advisers will take the legwork out of looking for a mortgage. They'll search 1,000s of mortgages, from different banks and building societies to provide tailored advice on the right mortgage for you. They'll hold your hand through the whole mortgage process, explain the confusing technical jargon and take care of all the paperwork so you can concentrate on the other aspects of moving into your first home.

While you might not be ready to buy your house yet, it never hurts to find out how much you could borrow - if nothing else it will help you understand how much you need to save up for your deposit.

Why not open your Lifetime ISA account now and then call our advisers on 0344 481 0073. Just tell them you've opened a Lifetime ISA and would like some initial advice.


Use our savings calculator to find out how your savings might grow over the months.

Exclusive rewards for members

We're committed to helping you save money, buy your own home and plan for a more secure financial future - whatever challenges life throws. If you have a savings balance of at least £500, and either have 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.

Current interest rates from 22 Aug 2018

Balance Tax-free p.a. / AER* Net rate
£10 - £750,000 1.00% Tax-free

The maximum you can save each tax year is £4,000. The Government will pay a 25% bonus of up to £1,000 each tax year. You can withdraw money from a Lifetime ISA to buy your first home, or at age 60. Other withdrawals will usually mean a 25% Government charge, so you could get back less that you put in. 

*We will pay your interest free of UK income tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The tax treatment of ISAs may also change. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was re-invested in the account each year.

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