Martin Lewis details a scheme that shows people receive سال 1,000 a year to help them buy their first home.
The founder of MoneySavingExpert explained that this help can be obtained through Lifetime ISA (LISA) Savings Accounts.
Martin had to go tick to see how you could open a new LISA for just £ 1 – and recommended doing so even if you’re not ready to buy a home right now.
In the video, titled ‘Why You Should Stick 1 in Lifetime ISA NOW!’ Why? This makes the clock tick.
“Lifetime ISA is a savings product that you can put up to 000 4,000 a year, but when you do, the state puts 25 adds on top.
“If you invest 000 4,000, they will give you پہلے 1,000 for your first home.
“So why put £ 1? Simple. You have to open it for a year before you can get the bonus.
“If you put in ابھی 1 right now, even if you’re not thinking about buying a home yet, you’ll get an immediate bonus once you’re ready to buy.”
An LISA allows rescuers to receive a 25% bonus from the government on what they spend on their first home or retirement. The mirror reports..
The maximum amount you can invest in LISA is 000 4,000 per year – up to £ 1,000 per year bonus.
However, there is a catch.
You need to use this money on your first property or on your retirement.
If you do not, you will have to pay a penalty of 25% of the refund.
Second, to open a new LISA, you must be between 18 and 39 years of age, although you can save up to 50 years of age in an existing account.
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