Hargreaves Lansdown and AJ Bell preparing to launch LISA products

Following Saving Bill Royal Assent

Hannah Godfrey
clock • 2 min read

Hargreaves Lansdown and AJ Bell have confirmed they will be launching Lifetime ISA (LISA) products after the Savings Bill, which frames the rules for the new savings option, received Royal Assent on 16 January.

From 6 April 2017, adults under the age of 40 will be able to contribute to a LISA, a savings vehicle that can be accessed penalty-free either to put money towards a first home or when the account holder turns 60, with a view to helping fund their retirement. Accessing a LISA outside of these conditions, however, will result in a 25% government charge being applied to the amount of withdrawal. Hargreaves Lansdown chartered financial planner Danny Cox said that, overall, the LISA looked like a "good product" and confirmed the group would indeed be launching one on 6 April. AJ Bell s...

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