Hargreaves Lansdown and AJ Bell preparing to launch LISA products

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...