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The Lifetime ISA is a savings account designed to help first-time buyers save for a home or build a retirement fund.
Available to those aged 18 to 39, the Lifetime ISA offers a 25% government bonus on annual savings up to £4,000.
This flexible account can be a great way for Newcastle residents to grow their savings while enjoying the added boost from the government, whether they’re planning to buy a home or secure a fund for the future.
With the Lifetime ISA, you can save up to £4,000 each year, with a 25% government bonus added to your contributions.
Funds can be used for purchasing your first home in Newcastle or withdrawn for retirement after you turn 60.
The government bonus is paid monthly, helping your savings grow quickly.
Keep in mind, though, that if you withdraw funds for reasons other than a home purchase or retirement, a withdrawal charge may apply.
To open a Lifetime ISA in Newcastle, you need to be a UK resident aged between 18 and 39. You can continue saving up to £4,000 each year until you turn 50, earning a 25% government bonus.
This account is a great choice for first-time buyers in Newcastle or those starting to plan for retirement, helping them build their savings with a government-backed boost.
The Lifetime ISA can be an ideal solution for first-time buyers in Newcastle looking to get onto the property ladder.
You can use your savings, including the 25% government bonus, toward purchasing your first home valued at up to £450,000.
For those planning to buy in Newcastle, this savings tool offers a valuable way to work towards a mortgage and secure their first home more quickly.
With the Lifetime ISA in Newcastle, you can save up to £4,000 annually, receiving an additional 25% government bonus, or £1,000 extra each year.
Over time, this can help you build significant savings for a home purchase in Newcastle or a retirement fund.
Once you reach your target, it’s time to begin your mortgage journey.
As your mortgage broker in Newcastle, we’re here to find the right mortgage to suit you and your first home.
Book a free appointment with one of our mortgage advisors at a time that works for you!
If you withdraw funds from your Lifetime ISA in Newcastle for any reason other than buying your first home or reaching retirement, a 25% charge may apply.
This fee can result in you receiving back less than you initially saved, so it’s wise to plan withdrawals carefully to maximise the value of your savings and the government bonus.
Yes, you can use your Lifetime ISA in Newcastle for a joint property purchase, even if the other buyer does not have a Lifetime ISA.
For tailored mortgage advice in Newcastle, each eligible individual can open their own Lifetime ISA.
The funds and bonuses from both accounts can be combined toward a shared home purchase, making this a valuable option for couples or friends buying together.
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Jill
Excellent customer service - highly recommend
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Paul
Professional service that was friendly and problem free - could not be faulted and is highly recommended for later life financial services.
1 year ago
Sikandar
Matt has been amazing. He not only found me the cheapest mortgage but also made sure that the offer is secured quickly. He remained in close contact advising me at every step of the process. He also helped me in negotiations with the vendor’s...
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Anonymous
Helped us to find a reasonable deal but also requested a better one when the lender reduced their rates
1 year ago
Steven
Fantastic service and had our mortgage approved within a week of our first call! Chris and Jo were a pleasure to deal with and available to chat at a moment's notice, even at weekends. The process was incredibly smooth and any recommended parties...
1 year ago
Grace
Matt gave us really good advise, which helped to give us the confidence to proceed with purchasing our first home. Once we had an offer in we were quickly shown the best mortgages to apply for, life insurance/critical illness insurance, and we were...
2 years ago
Lois
Brilliant service as always. Thank you guys 🙏 🏡
2 years ago
Anonymous
Both Jason and Chole were very helpful in helping me and my partner secure a mortgage despite having trouble getting one in the past.
3 years ago
Michael
Great response and very friendly service. Very helpful.
3 years ago
Jacqueline
My experience with this company has been great and I highly recommend them. From the initial stages through to getting the offer, everyone I spoke with was informative, professional and friendly. Tom and Jonathan really helped with the initial...
3 years ago
Sunna
I have spoke to Arron today, I have received excellent customer service. He listened me carefully and answered all my questions promptly!! Good adviser.
3 years ago
Lydia
Amazing! UK moneyman were there every step of the way. Making sure I understood everything and taking the stress out of buying your first house. They were very responsive to emails, calls and gave excellent customer service. 10/10 could not fault...
3 years ago
Kevin
All staff, very efficient,communication excellent and found us a great deal on our mortgage as my credit rating wasn’t great.Thankyou very much Leo and Newcastle moneyman.
5 years ago
david
Being self employed it was hard to get a mortgage!but thanks to Newcastle money man I’ve got one !!!thanks again would definitely recommend them!👍
5 years ago
Harley
Professional service from start to finish. Very helpful with all of the questions I was throwing at them also. Would recommend 100% and we feel we for the prefect product mortgage for us. Thank you guys!
5 years ago
Darla
Great advice from start to finish. I had only dealt with a Broker via Estate Agents before so it was a little different to do everything over the phone but much better really because I was able to speak to someone late into the evening after I had...
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we just used this mortgage brokers for a mortgage on our new house. right from the initial phone call, the service received was very swift and carried out by professional yet very caring people. they made sure that every detail was done to the...
5 years ago
Discuss the challenges you are currently faced with and what you are looking to achieve with a trusted mortgage advisor in Newcastle.
During your free mortgage appointment with a mortgage advisor in Newcastle, you will need to provide information about your income and expenses to determine your affordability.
Although certain circumstances may limit your options, we will search through 1000 deals to find the best possible solution for you.
Our next step is to obtain an agreement in principle, which can be used to support any purchase offers you make.
Once you accept a purchase offer, your mortgage advisor in Newcastle will proceed to submit your full mortgage application and relevant evidence documents.
Throughout the process, your dedicated case manager will keep you informed until you receive your mortgage offer and complete your purchase.
Our service goes beyond merely obtaining the best deal. We will also advise you on relevant insurance policies to safeguard you and your family financially.
We will contact you again when your mortgage is due for renewal to ensure that you are still on the most favourable deals.
Customers are at the heart of Newcastlemoneyman. Our goal is to support you through the process and leave you feeling happy with your mortgage deal.
We strive in providing open and honest mortgage advice in Newcastle and provide a helping hand throughout the process.
With a vast panel of lenders available to us, we can help you as a reputable Mortgage Broker in Newcastle with many of the lenders having unique lending criteria.
We could help you find a product that is suitable for your situation.
Using their expert knowledge and experience, our Mortgage Advisors in Newcastle can recommend the best mortgage product for the situation.
If you are concerned about your credit score, it’s best to look at getting an up-to-date copy of your credit report.
This will be helpful when it comes to your free initial mortgage appointment because you can have a better idea of your situation and see if we can help.
Contact our team and book yourself in for your free initial mortgage appointment with a friendly mortgage advisor in Newcastle.
The Lifetime ISA is specifically aimed at first-time buyers and those saving for retirement.
If you already own property in the UK, you won’t be eligible to use the Lifetime ISA for purchasing another home.
However, you can still use it to save for retirement and continue benefiting from the government’s 25% bonus on your contributions.
If you decide not to purchase a property in Newcastle, your Lifetime ISA savings can remain as a retirement fund, accessible once you turn 60.
Your funds will continue to receive the 25% government bonus as you save, making the Lifetime ISA a flexible choice for home buyers and long-term savers alike.
Apart from the Lifetime ISA, Newcastle homebuyers have additional options to consider, such as Shared Ownership and the Right to Buy scheme.
Shared Ownership lets you purchase a portion of a property and pay rent on the remaining share, while the Right to Buy scheme provides eligible council tenants the chance to buy their homes at a discount.
Speaking to a mortgage advisor in Newcastle can help you explore these options and determine the best scheme for your circumstances.
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Newcastlemoneyman.com & Newcastlemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Newcastlemoneyman.com & Newcastlemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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