Stocks and Shares Lifetime ISA from the UK’s Best Mortgage Broker

Anyone aged 18-39 and is a UK resident can open a Stocks and Shares Lifetime ISA. Like the Cash LISA, you can put in up to £4,000 each tax year, until you're 50. You must use the funds in your Stocks and Shares Lifetime ISA for either purchasing your first home, or to fund retirement.

Yes, absolutely. If you already have a LISA, you can transfer your funds to us to take advantage of the higher interest rate. Transferring will only take a few minutes in the Tembo app, and your money will land in the account in 4-6 weeks (depending on how speedy your old provider is!). You can only pay into one Cash Lifetime ISA or one Stocks & Shares Lifetime ISA every tax year (April 6th to April 5th). So if you have paid into one Lifetime ISA already this tax year, but want to open and pay into another one, you can either transfer your funds to us, or wait until the new tax year begins on April 6th.

It's normal for Stocks and Shares Lifetime ISAs to have fees associated with them. With the Tembo Stocks & Shares Lifetime ISA, you'll pay a platform fee of 0.35% and an annual fund provider fee of 0.17%. But unlike other providers, there is no monthly subscription fee.

Yes, you can have both a Cash Lifetime ISA and a Stocks and Shares Lifetime ISA. But you can only add in money to one each tax year. Remember, each time you apply for a new Lifetime ISA you will need to meet the eligibility criteria for opening an account. At Tembo, you can only open either a Cash Lifetime ISA or a Stocks and Shares Lifetime ISA. So if you want to open both types, you can open an account with us, then open another one with a different provider in the next tax year.

Yes, you can use two LISAs to purchase a house with another person for a joint mortgage, so long as you are both first-time buyers. With our Team Up feature, you can combine your LISAs to see how much you have saved together! If you're purchasing a home with a second-time buyer, you can still use your LISA for the purchase. This is because LISAs are tied to people, not properties.

Any savings you put into a Tembo Lifetime ISA are safe and secure, and are held in a banking-level security account. Your funds are also produced by the Financial Services Compensation Scheme (FSCS). This means your money is protected up to £120,000, in the event of a financial institution failing. Tembo is also regulated by the Financial Conduct Authority (FCA) which means we abide by strict governance and compliance rules.