- Joined
- Feb 10, 2011
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I went with AJ Bell. I notice that a good few people recommended them, and to be honest there aren't many LISA providers anyway -> https://www.youinvest.co.uk/our-services
A LISA isn't for everyone as they're specifically for those under 40, and can only be used to either purchase your first house, or towards retirement (you can invest £4000 per year until you've 50, and access it when you're 60). You can take your money out, but you pay a penalty for doing so that's slightly more than the bonus the government put in. You probably already know all of this anyway!
I opted for it, on account that I don't have a pension, so I'm fine with depositing the money and not accessing it for an extended period of time. The government bonus is £1000 if you put £4000 in each year (the maximum), so that's a decent incentive in my view! They pay it a couple of months after you deposit the money I believe. With a Stocks and Shares LISA, they confirmed to me that I'll still receive the bonus even if I decide to sell the shares I'm currently invested in and leave the money in the account for a period of time uninvested.
Brilliant. Thanks for that!
Investments isn't anything I've ever really looked into, but I think it's about time I did.
I'm coming up to 38, so need to start building towards something for the future.