How to save… £10k in 2 years
Are you a first-time home buyer and wondering how to save?
Are you hoping to buy your first home but struggling to save for a deposit?
Are you wondering how to save money fast?
Is there a secret way for you to save money?
In this article, we will explain how simple it is for you to make money whilst you save money.
Here at LTC Mortgages, we want to spread the word of how you can receive money for free. Yes you read that correctly, you’ll get free money by saving this way.
Read on to see how you can save £10,000 in just 24 months.
First, set up a Lifetime Individual Savings Account / Lifetime ISA (LISA).
This tax-free account offers a 25% government bonus.
Save £333 per month or £76 per week.
That will equate to £8,000 in 2 years.
Now for the best part…
The government will top up the £8,000 with an additional £2,000 for free!
Meaning…
Congrats, you’ve now reached your £10,000 goal!
Know that you know how to save, you can start to invest your money wisely to help get you on the property ladder.
For more information on setting up a Lifetime Individual Savings Account / Lifetime ISA visit
https://www.gov.uk/lifetime-isa
Alternatively, give us or call or drop us an email and one of our mortgage advisers will be happy to answer any questions you may have.
Follow us on social media for more savvy ways to save money.
The LISA small print:
You will receive a tax-free bonus of 25% on your contributions up to £4,000 each year up until you turn 50
Helps savers purchase their first home or save for retirement
The Lifetime ISA limit of £4,000 counts towards your annual ISA limit of £20,000
18–39-year-olds are eligible to open a Lifetime ISA
Your Lifetime ISA account must be set up before the age of 40
Your savings can be used for a deposit on a first home up to £450,000
You can only use this towards your residential property, it can’t be used for a buy-to-let purchase
You’ll receive the government bonus at the end of the tax year (April)
