The Government is proposing to replace the Lifetime ISA (LISA) with a new First Time Buyer ISA (FTB ISA), to help people save for their first home. The consultation closed on 18 August 2026, but the new product is not yet available and no launch date has been confirmed.
For now, the LISA remains available under its existing rules. Current LISA holders can keep their accounts and continue contributing to them. Under the proposals, the FTB ISA would have no upper age limit or withdrawal charge. The contribution limit, Government bonus and property price cap have not yet been confirmed.