Introduction of a new lifetime ISA.

From April 2017 a new Lifetime ISA will be available for adults under the age of 40. Savers will be able to pay in £4,000 per annum and receive a bonus of 25% up to their 50th birthday. The funds can then be withdrawn from the age of 60 or at any time after the first 12 months if the funds are used to purchase a first home up to £450,000.