If it’s about saving for a first home as quickly as possible, then a 
My independent analysis of fees, assets, features, platforms, and
Fact Checked
Disclosure
Share
5.0/5
Moneybox – Both a Cash LISA and an Investment LISA. Top interest rate on Cash ISA. Top historic fund performance on investment LISA.
Market-leading interest rate on Cash LISA 4.30% AER (variable) for first 12 months (3.05% AER thereafter)
Historically, the best performing Investment LISA
Capital at risk.
4.5/5
Tembo Money – Both Investment LISA and Cash LISA available. Bonus interest rate for those who secure a mortgage through Tembo.
Market-topping interest bonus on Cash Lifetime ISA if you complete a mortgage application through Tembo (T&Cs apply)
Both Stocks and Shares LISA and Cash LISA available
Capital at risk
4.5/5
AJ Bell – Best for investors looking for DIY and fully managed options.
A well-priced stocks and shares LISA
Well established brand with great customer service
Capital at risk.
4.5/5
Dodl – Investment LISA. Great for beginners looking for a simple, low-cost entry point.
Zero-commission stock trading
Low 0.15% annual account fee
Capital at risk.
4.5/5
Plum – Cash Lifetime ISA with a strong rate of interest. Plum offers great tools to help you save.
4.10% AER (variable) for first 12 months (3.36% AER thereafter) on Plum Cash LISA
4.41% AER (variable), falling to 3.04% AER after first 12 months on Plum Cash ISA
Capital at risk.
2.0/5
Hargreaves Lansdown – Best premium service from an established brand.
Longest established investment platform
One of the most comprehensive ranges of investment options
Capital at risk.
My tip: Be aware of the rules surrounding this product before you open an account as there are penalties involved should you access your money for anything other than purchasing your first home, or retirement.
*Not sure how to choose? Skip ahead to my tips on how to choose the best
5.0/5
– Both a Cash LISA and an Investment LISA. Top interest rate on Cash ISA. Top historic fund performance on investment LISA.
Market-leading interest rate on Cash LISA 4.30% AER (variable) for first 12 months (3.05% AER thereafter)
Historically, the best performing Investment LISA
Capital at risk.
Moneybox offers a choice of either a Stocks and Shares (investment)
No provider offers a higher rate of interest on a Cash LISA (currently 4.30% AER (variable) for first 12 months (3.05% AER thereafter)), with one exception; Tembo Money. I’ve detailed the Tembo Money offer below, but you’ll need to be ready to buy your first home pretty quickly to take advantage of that higher rate.
If it’s an investment LISA you’re after, Moneybox could provide you with strong investment growth. Our independent analysis of historical returns identified Moneybox as offering the best-performing
Other benefits of using Moneybox: the app is super easy to use, and Moneybox comes with loads of great savings features such as round-ups, which could just help you purchase your new home that little bit quicker. There is also mortgage advice, a free deposit calculator, automatic deposits, and a Home-buying ‘Gifts’ feature that allows friends and family to contribute towards your home deposit.
Use this if
Fees
Investments
For a detailed analysis of Monebox, check out our review for 2024
Read full review
5.0out of 5
4.5/5
– Both Investment LISA and Cash LISA available. Bonus interest rate for those who secure a mortgage through Tembo.
Market-topping interest bonus on Cash Lifetime ISA if you complete a mortgage application through Tembo (T&Cs apply)
Both Stocks and Shares LISA and Cash LISA available
Capital at risk
Tembo is one of the best apps I’ve reviewed in a while. It’s slick, and smart, and user friendly.
For those with more of an appetite for risk (and potential greater returns than can be achieved through cash), there’s a Stocks and Shares Lifetime ISA. And for those who don’t want to expose their money to investment risk, or have a shorter timeline to buy, Tembo also offers a Cash Lifetime ISA (LISA).
If you open (or transfer an existing LISA into) a new Tembo Cash LISA before September 30th 2025, you can cash in on a 1% bonus that Tembo will pay out when you agree a mortgage through them. That makes it the highest rate of interest available on a LISA in the UK market. However, the bonus terms and conditions will only work for a narrow group of savers, and doesn’t work in the normal way. You’ll need to receive mortgage advice from Tembo Money and use your Tembo Cash Lifetime ISA to purchase your first property before December 30th 2026. In other words, you’ll likely need to be fairly close to achieving your first house deposit already when you open this account as you have just over a year to find a home and get accepted for a mortgage on it. The 1% bonus is then payable on the amount withdrawn from your Tembo Cash Lifetime ISA and used towards the purchase of your first property. If those terms work for you, however, that could be a nice little moving day bonus!
Tembo Money’s Stocks & Shares Lifetime ISA invests exclusively in one fund — the BlackRock MyMap 5 Select ESG Fund. This fund has strong past performance data and is low-cost, so it’s not a bad option. But it does assume everyone wants the same kind of investment, and is happy with the same level of risk. If you want more choice than this, Moneybox or AJ Bell are better options.
Use this if
Fees
Investments
Read Clare’s full review
Read full review
4.5/5
– Best for investors looking for DIY and fully managed options.
A well-priced stocks and shares LISA
Well established brand with great customer service
Capital at risk.
Almost certainly, if I was still within the age range to open a Lifetime ISA, Moneybox would be my first choice. The performance of their ready-made portfolios on their Investment LISAs is just too good to ignore.
That being said, if you are knowledgeable about the stock market and think you could beat those returns, (a simple tracker fund could suffice), then AJ Bell has an excellent choice of assets which still come within a reasonable price range.
This is a really low-cost option for a
The average historical returns on their
Investors with a bit more knowledge will enjoy the range of shares, funds, investment trusts and ETFs to choose from.
You won’t find a
Use this if
Fees
Investments
For a detailed analysis of AJ Bell, check out our review for 2025
Read full review
4.5/5
– Investment LISA. Great for beginners looking for a simple, low-cost entry point.
Zero-commission stock trading
Low 0.15% annual account fee
Capital at risk.
This is one of the best value
Dodl provides market leading education, great customer service, and will even pay 4.32% AER on any uninvested cash while you get the hang of investing. That means, although this is an investment LISA, you could still get the benefits of a Cash LISA (less investment risk) with a higher rate of interest than some other Cash LISAs are paying!
At Dodl there is also the added comfort of knowing that they are part of a big legacy brand, making this a reliable option.
Investors can pick from
Use this if
You are looking for a really pared-back, cheap and easy service that is quick to get up and running.
Fees
Investments
For a detailed analysis of Dodl, check out our review for 2024
Read full review
4.5/5
– Cash Lifetime ISA with a strong rate of interest. Plum offers great tools to help you save.
4.10% AER (variable) for first 12 months (3.36% AER thereafter) on Plum Cash LISA
4.41% AER (variable), falling to 3.04% AER after first 12 months on Plum Cash ISA
Capital at risk.
Plum’s Cash LISA is paying a healthy rate of interest which includes a 0.74% bonus that’s added on for the first 12 months. Although it’s not as high as the Moneybox introductory rate, once the bonus drops off at the end of the 12 months, you would receive a better standard rate at Plum than Moneybox is paying. Bear in mind, however, that things change often in the world of Cash ISAs, so those rates will mostly likely be different again in a year’s time – which is why we recommend regularly checking rates and switching when you see a better deal.
Plum offers some great savings tools to help even those who don’t think of themselves as good savers to get that house deposit building quickly and consistently.
Use this if
You find it hard to save and want help.
Fees
Read Antonia’s full review of Plum
Read full review
2.0/5
– Best premium service from an established brand.
Longest established investment platform
One of the most comprehensive ranges of investment options
Capital at risk.
Hargreaves Lansdown has a long-standing reputation for offering a best-in-class service, albeit at a significant cost. This is the largest fund supermarket in the UK, with over 3,500 funds to choose from, so if you are the sort of investor who finds this breath of choice intimidating, you may be best served elsewhere.
Education is excellent here and there is the option to access financial advice
on the phone or in person; however, this does come at a cost that is akin to the industry standard.
Hargreaves Lansdown has recently reduced their account fees for the
Use this if
Fees
Management Fees:
Share Dealing fees:
Investments
To read our detailed no stone left unturned review of Hargreaves Lansdown
Read full reviewA Lifetime ISA is an account designed to help people save for their first home or for retirement. Every deposit you make into a Lifetime ISA will attract a healthy government bonus of 25%, making this the most efficient way to save.
However, you must be between the ages of 18 and 39 to open one of these accounts and there are a number of additional rules that you should familiarise yourself with before you open a Lifetime ISA. For more information, take a read of our Simple Guide to Lifetime ISAs.
It’s important to note that there are two types of Lifetime ISA:
What is a Cash Lifetime ISA?
This is a savings account where you earn interest, like a regular savings account — but with the added 25% government bonus.
Your money earns a fixed or variable interest rate set by the bank or provider.
There is no investing involved, so your money is not at risk from the stock market.
People who want zero risk.
First-time homebuyers saving over a short period (e.g., 1–5 years).
Anyone who prefers stability over potential high returns.
Interest rates might be low, and your savings growth falls behind inflation.
What is a Stocks and Shares Lifetime ISA? (S&S LISA)
This type of LISA is an investment account where your money is put into stocks, shares, funds, or other investments — and you also get the 25% government bonus.
The value of your account depends on how the stock market performs.Investments can go up or down, so you could make more money — or lose some.
Those comfortable with risk and willing to accept ups and downs for possibly better returns.
First-time buyers with a longer savings horizon (5+ years).
People saving for retirement (long-term goal: 10+ years).
Investments can lose value, especially in the short term.
Not ideal if you need the money soon or can’t handle risk.
There should never be a cost to hold a Cash ISA.
In contrast, there are usually costs associated with holding a stocks and shares
Of course, it is important to remember that cost is not the only factor to take into consideration. If you’re choosing an investment LISA, then how much your investment grows by is crucial. If you’re a new, or less experienced investor, looking for your platform to make investment decisions on your behalf through a ready-made portfolio, you should pay close attention to past performance data.
Ready-made portfolio performance
The following analysis has been conducted in-house and is exclusive to Investing Insiders.
In order to help you select the very best vehicle for your Lifetime ISA, we have analysed the portfolio performance across the platforms offering this account. Please note that as part of AJ Bell, Dodl offers the same portfolios, and therefore they have been omitted from this analysis.
As you can see, Moneybox has retained the lead when it comes to performance across all time scales. Of course, this does not mean that Moneybox will continue to lead the way when it comes to returns, as past performance can never guarantee future returns, however, it can indicate consistency in the management of the portfolio.
It’s actually surprising how few providers offer
It’s still worth doing a comparison rather than just picking one provider at random, because you’ll find different platforms offering different rates of interest (for cash LISAs), different rates of interest on uninvested cash (for investment LISAs), differing attitudes towards customer service, different investment options and apps and platforms that are easier for beginners in some instances than others.
When choosing a Lifetime ISA, you’ll need to consider:
And then, there’s experience level.
How much knowledge do you have of the stock market? Would you be able to resist making emotional decisions should your investments fall?
Beginners
If you have little to no experience and are looking for an easy, time-efficient way to invest your money in a
Of these three choices, Nutmeg is the most expensive option with the poorest performing portfolios so that would be easy to discount as an option. Net of fees, Moneybox would have seen the best return on your investment for the last 10 years and would therefore be an obvious choice.
Intermediate/experienced
For those with more investment experience, your choices would be between:
Of these two options, AJ Bell is the most cost-effective solution in almost every circumstance and would therefore be my first choice.
Then your decision is easy. Investing should always be considered a long-term endeavour with a minimum period of 5 years in order to ride out any volatility in the market. If you are holding your
It is my finding that Moneybox is offering the best Lifetime ISA for beginners and AJ Bell are a compelling alternative for experienced investors. This is based on price, portfolio performance, range of assets and features.
Yes, Moneybox has all the correct levels of authorisation and regulation and was deemed completely safe during our review. They also offer protection from the Financial Services Compensation Scheme up to £85,000 should the platform fail for any reason.
It is my opinion that this is an under-utilised product for those saving for their first home. The government bonus would have a significant impact on growing your savings. However, you should be aware of the price cap on the value of the property you buy, especially for those living in London. I would also be more reluctant to recommend it as a vehicle for saving for retirement. For more information on this please refer to my guide on Lifetime ISAs.
Yes, you can swap providers at any time and as often as you wish. If you currently have a Lifetime ISA and have doubts about the performance or costs associated with your current provider then you should definitely consider transferring your Lifetime ISA to one of the providers above.
No, the maximum you can put into a Lifetime ISA in any one financial year is £4,000. However, if you wish to save more than this towards a property, you can put a further £16,000 into any other ISA product including a Stocks and Shares ISA or a Cash ISA. While this won’t attract the government bonus, these products will still provide you with the opportunity to grow your wealth either via interest or by investing in the stock market. If you do decide to do this, Moneybox have an excellent interest rate on their cash ISA which I utilise myself. You could also access the same ready-made portfolios, and their historically favourable returns, with the stocks and shares ISA.
* Wondering whether we get paid for writing good things about platforms? Good question! It’s how many comparison sites get paid.
The answer is – no, we proudly do things a little differently at Investing Insiders. Our sole criteria is what’s best for you – the consumer. So, although we do receive a commission if you choose to click through and open an account from any of our reviews, we will never bend our opinions to suit the requests of providers, or the needs of our bank balance. Bottom line – what you read on this page is what I’d recommend to my family, friends and colleagues, and indeed, what I choose for my own money.
