Convert Help to Buy to Lifetime ISA calculator

You can use this simple calculator to understand if there's value in converting a Help to Buy ISA into a Lifetime ISA.

£
Total deposit for house purchase
£
Your personal savings contributions, do not include the estimated additional bonus from the government.
The month and year are accurate enough

Value in converting?

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Explained

Help to Buy ISAs and Lifetime ISAs have different rules associated with them. Whilst it is possible to have both types of account, when buying a house, only one can be used to claim the government bonus. There are also penalties associated with withdrawing money from the account when it is not used toward buying a house.

The Help to Buy scheme will provide a bonus from the government of 25% up to a maximum bonus of £3,000 and can be used toward the purchase of a house of up to £250,000 outside of London and £450,000 within London.

The Lifetime ISA scheme has a maximum yearly limit of £4,000 and a government bonus of 25%, and can be used to purchase a house of up to £450,000.

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