Martin Lewis urges parents to do one key thing as children turn 18
Why Martin Lewis wants parents to put £1 in a Lifetime ISA
- Martin Lewis is advising parents to open a Lifetime ISA for their children with just £1 once they turn 18.
- This initial deposit starts the one-year period required before the funds can be used for a first-time property purchase.
- The state adds a 25 per cent bonus on contributions, up to £4,000 annually, for those buying their first home.
- Opening the account early with £1 ensures that any subsequent contributions, up to the annual limit, can immediately receive the bonus without further delay.
- Watch the video in full above.