Lifetime ISA for First Time Buyers in the UK: My Review and Costly Mistakes to Avoid

[@Tasia422]

A new subscriber based on this video. Exactly what I have been looking for, and it came right on time. Many thanks for your help and more grace to your channel🙏 ❤

[@ChideraPeters]

Aww I’m glad to hear that and welcome to this side of KZbin ♥️✨✨

[@Tee_2601]

Great info even though I’m over 40. I’ve subscribed - I think I can learn a lot from you.

[@harmonyehis]

The best explanation so far... Thanks Chidera.

[@ChideraPeters]

Aww you’re welcome ♥️

[@AdaobiNA]

Thanks for the well defined breakdown.

[@aigbeehis3949]

Really great advice but only drawback for me is I’m not sure I would live in the Uk long term. Currently trying to relocate to CA. Thanks again Dera ❤️

[@stellaabekah977]

Dear, thanks for your in depth analysis, much appreciated. I would be very happy if you could do another video detailing investment and saving which will help us immigrants.Thanks

[@boljbee1884]

Hi Chidera, this is quite insightful. Please what kind of cash ISA do you recommend as I am past the age for a life time ISA. Also what type of junior ISA is good for a 4 year old. Thanks as I await your response❤

[@ChideraPeters]

Hi 👋🏾 you need a cash ISA with high interest rates. You can open a Cash ISA with Plum - they offer 4.92% interest and it’s one of the highest on the market, here’s the link prf.hn/click/camref:1011l3Tbxs

[@josephelogun1482]

Thanks, Sis. It's very inspiring.

[@zahrahussein7143]

Thank you for detailed explanation of account but can amount saved if not full be put towards new home as first time buyer after 12mths?

[@michaellatettey7052]

Thanks for the video, Chidera! It was very insightful! Is it possible to make a video on cash ISA ? And perhaps how to maximise plum app benefits ? Thank you 😊

[@chidimmannajiofor9611]

So happy to see you again, please Chidera your skin is shining, please what cream and soap do you use here in UK?

[@ChideraPeters]

Aww thank you so much ☺️. I use normal soap and cream o😂

[@CathFerook]

That did not answer the question but ok....smh! This is why I ❤ US youtubers they will even give you the link

[@akinyemikemi3752]

Thanks Chidera,hope the 1000 pounds by government is not a public funds

[@jjjamal3782]

Is Tembo really reliable ? Which one of Tembo and Moneybox is the best?

[@gold_yabaesther1324]

Thank you dear But please off the topic, what moisturiser do you use.I am in hurt for a good moisturiser o

[@ChideraPeters]

I tried Medik 8 moisturiser this month and it’s a bit expensive but before this I used Byoma gel moisturiser

[@gold_yabaesther1324]

@@ChideraPetersthank you I can use for the body right ?

[@Ebose_reme]

Wow!! I stayed glued to my screen throughout. Thank you so much for this very detailed and insightful video. Quick question, do you have any recommendations for savings if one's the partner is above 40? Thank you for your response and for this video.

[@ogunewenwanneka5360]

Hi Chidera , Thank you for the information,please can you use your friends Lisa and join with yours to buy a house if she’s relocating and doesn’t need it anymore

[@hettymacconey1498]

If I open LISA account a few months to the tax year, will I still get the government’s 25% bonus?

[@ChideraPeters]

Hi yes you will. Tax year resets 5th April. So even if you open a LISA 4th of April and put in the full £4K, you’ll get the 25% bonus for that tax year

[@Joseph_Temitope]

Thank you forsaking this so simple and detailed. Please, I need know what’s the maximum amount of money or years can one save in LISA?

[@ChideraPeters]

There’s no maximum number of years per se. You can withdraw for your first house or for retirement. Which means you can keep the account even up until retirement age and even then you can withdraw for your first house or decide to use it for retirement

[@Joseph_Temitope]

@@ChideraPeters Your content is very rich and educative. Please, can you do a video on trading212 or any of those ETF investments platforms. ❤️

[@tejiria6490]

Thank you for sharing. Which of these Lifetime ISA providers also help improve your credit score?

[@ChideraPeters]

Lifetime ISA isn’t a credit building product

[@akinyemikemi3752]

Must the contributions be same amounts monthly. For instance, if i had 500pounds this month,and i don't put anythings next month.

[@obinnavictoreze]

Can one move out of the house and rent it out after maybe a year or 2?

[@nellevictoire3712]

Hello I just came across to your channel, my question is what is the eligibility to open this account is it for British nationalty only or everyone who live legally in Uk?

[@Beraka09]

What about people that have passed the age of registering for this? Can you do a video of it?

[@ChideraPeters]

If you’ve passed the age then you can’t register for it

[@abuchidaniel6066]

Hey Chidera, well done on the info. Pls can one deposit 4k at once and still get the 25% at the end of the year or should you pay in the money gradually?

[@ChideraPeters]

Hi 👋🏾 yes you can pay all the £4K into the account at once and you’ll get the full 25% bonus at the end of the month

[@dejewels1332]

How much do I need to have in that life time isa account before I buy a house

[@LindaOgochu]

Chidera God bless you,please my question is that as i am almost two years in uk,can i be able to do it without affecting my papers in uk. Looking forward to hearing from you Thank you

[@ChideraPeters]

Hi Linda, if I get your question right - the bonus from this account does not count as public funds

[@n-silverose6244]

Nice one thanks for the enlightenment

[@ChideraPeters]

You’re welcome ☺️

[@benedictsalako9754]

I'm always happy to see your face

[@ChideraPeters]

Aww thank you so much ☺️

[@AdaobiNA]

So what if within the one year,I am able to buy a house with my money not the ISA money. Will the ISA account still be useful for buying the second home?

[@gloriaizien4508]

thank you ❤

[@susanboodie7809]

Hi Chidera, this would not work for people who are over 40 years old like myself. Any other option?

[@ChideraPeters]

Hi 👋🏾 Cash ISA would be your next best bet

[@abisolaagboifoh8336]

Thank you so much for the detailed video....I just want to be sure....so I must not exceed the 4k pounds if I want the 1k bonus

[@ChideraPeters]

Yes and in these accounts it’s auto set to 4K so you can’t actually pay in more than £4K each tax year

[@abisolaagboifoh8336]

@ChideraPeters wow....thank you...I initiated a direct debit for an amount 500...so automatically it won't add up

[@chinyerenduka1559]

I turn 38 next year, and i intend setting up this account. Please, what happens after I turn 40, can I still use the funds in the account to purchase a house and will i keep getting the 1k from the govt?

[@ChideraPeters]

Hi 👋🏾 yes as long as you open it before 40, you can keep the account for as long as you want and you’d keep getting the bonus pending when you’re ready to buy or leaving it for retirement

[@chinyerenduka1559]

Thanks a lot 🙏

[@nurseuju]

Nice video, must it be maximum of 4000, can't someone put more than 4000 in the account

[@ChideraPeters]

Yes it’s a maximum of £4,000 contribution from you. You can’t put more than that

[@chinazaogbonna2740]

Do you get more interest from government when you put more? Or is just the £1000

[@Damyfaith]

Hi, thank you for this content❤I would like to ask a question. what if I don’t use the all money saved for mortgage? And use let’s say 10% for a mortgage and the remaining for retirement will this first withdrawal paid into the solicitor account for mortgage change the little help I get from the government?

[@ChideraPeters]

Hi 👋🏾 No it wouldn’t change it. As long as you still have money there, you’ll get the bonus just that it’ll then be for retirement since you’ve already withdrawn once to buy a house

[@glamourserwaa6554]

After buying the property what happens to the account

[@shelay]

if you leave £1 in it, you can continue putting the max amount in it yearly after you have purchased your house. This money the second time around can only be used for pension purpose.

[@sylviannah6866]

Thank you so much

[@ChideraPeters]

You’re welcome ♥️

[@agnesaboagye5842]

Hi how many years do I need to keep the money in LISA before I can withdraw towards my first house. I was told ten year, is that true?

[@Jaay2022]

First here🎉❤

[@ChideraPeters]

Welcome!!💃🏽💃🏽💃🏽🎊🎊 Thanks for stopping by

[@hyper-conevent7301]

Can I have multiple Lisa account

[@etsenamheblessingshuga4228]

Hi CP, What then is the maximum amount one could save in the account? Take for instance, could one be saving £4k each year for like 10 years amounting to £40k before buying a house, and still getting the government bonus which then amounts to an additional £10k making a total of £50k, If this makes sense?

[@ChideraPeters]

There’s no limit to how long. So you can save for as long as you want. 10 years or even more is fine but it’ll have to be for a house or for a retirement

[@naomidanjuma-audu]

Read somewhere that the maximum year for contributions is 50yrs

[@Dela-UK]

Thank you

[@ChideraPeters]

You’re welcome 👍🏽

[@AbbysStyling]

Thank you

[@ChideraPeters]

You’re welcome ✨

[@AyoObanisola-wo1zn]

Can I save twice in one year? Like £4k in june and another £4k in December or January before April 2025 . Can I withdraw both in June 2025? Thanks

[@chinazaogbonna2740]

Thank you for the video: if i should leave £4000 in the life Isa account, will government be adding £1000 eacy tax year to the 4k i have already even though i don't put in money again? I just the the account with 4k for years

[@rhodakasoma381]

No the government will only pay the 1000 bonus on a 4000 in a tax year, so only once. You will need to put a more money each tax year for you to keep benefiting from the extra bonuses

[@joshuaolanrewaju59]

Can someone on a skilled work visa (2-3 years remaining on the visa) get a financier who can grant 95% loan to value ration(5% deposit)?

[@Everything_with_Oge]

❤

[@hannahpopoola7114]

Please Can i open a lifetime isa as an immigrant under skilled work visa? Is it counted as government benefits?

[@ChideraPeters]

Hi 👋🏾 yes you can. No it does not count as public funds

[@iamprideless]

First here ❤❤

[@ChideraPeters]

You don’t miss! 😂 Thanks for showing up

[@iamprideless]

@@ChideraPeters 😂😂 ikr.

[@selinahagan8275]

Can i have two different Lisa accounts from different platforms like Moneybox and Tembo