Newcastle BS launches Lifetime ISA
Newcastle Building Society is the latest lender to launch a cash Lifetime ISA, with a market launched expected within the next few weeks.
Until August, Skipton was the only lender to offer a cash Lifetime ISA, until Nottingham Building Society announced its plans to enter the market.
Customer director at Newcastle Building Society, Stuart Miller, said: “We know how difficult it is for many people to save up enough of a deposit to allow them to own their own home. Similarly the importance of planning your finances ahead of retirement has never been more important. That is why Newcastle Building Society wants to be able to offer a Lifetime ISA.
“Saving the maximum with a Lifetime ISA could mean people between 18 and 39 could earn as much as £32,000 as a free Government bonus to put towards their first home or their retirement.
“We hope that Government will continue with Lifetime ISAs and provide consistent and long term support to those who are saving for a home or planning for future retirement.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
Mortgages
FCA and PRA remove 15% LTI cap for mortgage lenders
GDP
August rate cut likely as GDP falls for second consecutive month
