Almost 1,500 Lifetime ISAs opened between Christmas and New Year

Skipton says over 50 accounts were opened on Christmas Day alone, as savers took action to kick start their 2018 financial goals.

Kris Brewster, Head of Products at Skipton Building Society, said: “It’s great to see that many young people have already taken action on their 2018 goals by putting measures in place to ensure their dreams of home ownership and preparing for the future can become a reality.

“On Christmas Day alone, over 50 cash Lifetime ISA accounts were opened with Skipton. This sends a real signal of intent from our younger members that despite increasing house prices and squeezes on our wallets they are making a determined effort to get the keys to their first home. And we are pleased to offer a product that is helping to encourage future homeowners to save towards this significant milestone.

“Since launching the UK’s first cash Lifetime ISA in June 2017, there continues to be a high level of interest in the product. At Skipton, we believe the LISA could make a real difference to a new generation of savers, not only in helping them get a foot on the property ladder, but providing them with another option to help them save for their future too – and all tax free”