Win a MacBook Air with OneFamily's Lifetime ISA!
Simply open a OneFamily Lifetime ISA (or any new OneFamily investment product) before 31 May 2024 to be automatically entered into our prize draw.
Terms and conditions apply. Capital at risk.
What are lifetime ISAs?
Lifetime ISAs are Individual Savings Accounts that help people either buy their first home or save for retirement. The government tops up lifetime ISAs by 25%, so every time you pay in, the government does too. For example, if you pay in £100, it will give you an extra £25 on top.
You can invest up to £4,000 in your lifetime ISA each tax year, so there's £1,000 of government bonus available each year.
As with all ISAs, lifetime ISAs are tax-exempt. This means that no matter how much your investments grow by, you won't pay any tax on the money you withdraw.
You can open a OneFamily Lifetime ISA with a minimum £25 a month direct debit or a lump sum of at least £250. We charge an Annual Management Charge of 1.1% of the account value. Our Lifetime ISA invests in stocks and shares, therefore it has good potential to grow over the long-term but the value can go down as well as up.
What are the lifetime ISA rules?
There are a few rules to be aware of:
Things to be aware of
The money you put in our Lifetime ISA is invested in stocks and shares. This means there's good potential for it to grow over the long-term, but there is a risk that the value could go down.
The alternative is a cash lifetime ISA which earns interest like a current account does.
There is also a penalty charge for taking your money out within 12 months or not using it for your first home or for retirement. This is known as the government withdrawal charge, see below for details.
See what your lifetime ISA could be worth
Choose how much you want to pay into your lifetime ISA and see how much your money could grow
This projection shows how your lifetime ISA could grow with low, medium and high performance. Remember, projections are not a guarantee of future performance and you could get back less than you pay in.
Please note: No more than £4,000 may be invested into a Lifetime ISA within a single tax year. This includes your initial investment and your monthly direct debit payments.
See what your lifetime ISA could be worth
Choose how much you want to pay into your lifetime ISA and see how much your money could grow
This projection shows how your lifetime ISA could grow with low, medium and high performance. Remember, projections are not a guarantee of future performance and you could get back less than you pay in.
Please note: No more than £4,000 may be invested into a Lifetime ISA within a single tax year. This includes your initial investment and your monthly direct debit payments.
What is the lifetime ISA government withdrawal charge?
The government will charge you 25% of everything you withdraw if you:
This means you'll be charged 25% of the money you saved yourself plus the money the government put in. For example, if you put in £1,000 then the government will have added £250. If you withdraw the lot, your penalty would be 25% of £1,250, which is £312.50, leaving you with just £937.50.
Therefore, if you’re not intending to buy your first home with the money or keep it in the account until you turn 60, you might be best opening an ISA instead.
What is a "climate-focused" fund?
When you open your Lifetime ISA, you'll be asked which of our two funds you'd like to invest your money in, Global Equity or Global Mixed.
Global Equity
If you choose our Global Equity fund, you'll be giving companies more reason to work towards being more climate-conscious. The more companies do to reduce their impact on the environment, the more likely it is this fund will invest in them.
That's because this fund's approach to selecting company shares involves looking at what they're doing to reduce, and adapt to, climate change. Its exclusion criteria also filters out more of the companies in the most polluting sectors.
Our fund managers assess and score the 1,500-2,000 companies on the MSCI World Index based on:
However, this fund may invest in some companies that might surprise you, such as oil and mining companies. While most of these companies are filtered out, some are included as they are able to prove that they're actively preparing for climate change.
You can find out more about the systematic approach Global Equity uses when selecting company shares here: 'How we invest for a brighter future'.
Global Mixed
Up to 35% of our other Lifetime ISA fund, Global Mixed, is invested this way, while the rest is invested in lower risk, fixed interest assets and doesn't use a climate scoring system to select investments. This could mean some investments are included that would have been filtered out of the Global Equity fund.
Why invest in a OneFamily Lifetime ISA?
There are a few things that really set us apart from other lifetime ISA providers. Here's just some of the reasons to choose OneFamily.
How to open a lifetime ISA with us
Choose which of our two funds you'd like to invest your money in. Once your Lifetime ISA is open, you can switch between funds at any time, free of charge.
Global Equity
For more adventurous long-term investors
Global Equity invests in company shares.
When deciding which shares to buy, Global Equity takes into account how sustainable companies' business models are and what they're doing to lessen their negative impact on the environment.
Find out more about how this find invests with a focus on the climate.
Annual Management Charge 1.1%
Risk rating
Lower HigherYou can find out more about Global Equity in our Key Information Document and Fund Factsheet
Global Mixed
For more cautious long-term investors
Global Mixed invests at least 65% of your money into lower risk, fixed-interest assets, which makes this fund a more cautious investment option compared to Global Equity. This element of the fund doesn’t use Global Equity's climate-focused criteria.
Up to 35% of this fund invests in climate-focused company shares via the Global Equity fund.
Annual Management Charge 1.1%
Risk rating
Lower HigherYou can find out more about Global Mixed in our Key Information Document and Fund Factsheet
Ready to get started?
Start saving - open or transfer to a Lifetime ISA online today
If you want to open a OneFamily Lifetime ISA by phone, call 0800 028 1112*
Got a OneFamily Child Trust Fund? Log into your account
Find out more about lifetime ISAs
Get all the information you need to feel fully informed when investing in your future.
Transfer to our Lifetime ISA
You can transfer an ISA or Child Trust Fund held with another provider to our Lifetime ISA.
Lifetime ISA FAQs
Got a question about Lifetime ISAs? Browse our frequently asked questions to get the answers you need.
Help to Buy ISA vs Lifetime ISA
If you already have a Help to Buy ISA, find out if transferring to a lifetime ISA might be the right option for you.
Are there any Lifetime ISA charges?
There are always some underlying charges when investing in stocks and shares. Learn about our fees.