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Daily Mirror
Daily Mirror
Business
Andrew Young

Brits could get as much as £1,000 of 'free money' a year - with specific savings account

Lisa Lifetime ISA Brian Byrnes Moneybox

Brits could be missing out on a whopping £18 BILLION of “free money” a year – because they aren’t making the most of a certain savings account.

The most recent government data (2020-2021) shows just 553,000 adults contributed to a Lifetime ISA – either to save money towards their first home deposit, or for their retirement.

A LISA pays out a 25% bonus on savings made up to £4,000 each tax year – allowing savers to grab as much as £1,000 of free money each year.

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