It looks like free money. An absolute no brainer.

That will give some savers the chance to earn up to £32,000 in government bonuses.

But critics are warning not just that the product is complex, but that it could leave some investors worse off.

And should you want your money back at any stage, you could pay dearly.

It is a savings product, designed to help people at two different points in their lifetime:

  • When they want to buy their first house or flat

or

  • When they want to retire

Savers can only open a Lisa if they are between the ages of 18 and 39 inclusive. They can pay in up to £4,000 a year, but no more.

Article source: BBC, Business, 14th December 2016,

 http://www.bbc.co.uk/news/business-37318001

 

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