Every Thursday we look at a different savings option, explain the pros and cons, and reveal the best deals on the market . This week we're talking about the top Lifetime ISA accounts. Here's what Savings Champion founder Anna Bowes has to say...It's good to see that although the savings market has slowed recently, there are still plenty of inflation-beating accounts available – especially when those accounts offer a tax-free return.
Introduced in April 2017, the Lifetime ISA offers a much-needed boost for younger savers who are looking to save for a deposit on their first home or for retirement.The LISA is the obvious choice for anyone aged between 18 and 39, as you can deposit up to £4,000 a year and you'll receive a government bonus of 25% on each deposit, which you can keep as long as you use the proceeds to buy your first house – or until you are aged at least 60 as a retirement pot.