Martin Lewis has issued an important financial warning to people aged between 18 and 39.
The Money Saving Expert has urged those in the age group who do not have a Lifetime ISA (LISA) to “get a pound in one now”, before the account is replaced by the new First Time Buyer (FTB) ISA in April 2028.
The FTB ISA will allow people to save for a property or for retirement, as well as receive a 25% government bonus on up to £4,000 of savings.
Mr Lewis has urged those eligible to register for a LISA before it’s too late. “If you've already got one open, even with just a quid, you can continue to use it,” he explained.
“That's important because what they're suggesting is for first-time buyers, you'll be able to get the bonus on a LISA and the new first-time buyer ISA.”
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