Skipton's Lifetime ISA customers receive £80m in government bonuses

Since launching, 102,000 cash LISA accounts have been opened at Skipton Building Society, and thise who opened their account in 2017-2018 tax year are receiving their 25% Government bonus today.

88% of all Skipton’s cash Lifetime ISA account holders are first-time buyers.

Kris Brewster, head of products at Skipton Building Society, said: “We are delighted to have received over £80 million in cash Lifetime ISA bonus from HMRC today and excited to be sharing this sizeable boost with our LISA savers.

“The extra government bonus from the Lifetime ISA will help first time buyers on their journey towards buying a home. The success of this account to date 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.

“At Skipton, we believe the LISA will 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 an option to help them save for their future too.”