Skipton launches cash ISA

A CASH version of the Lifetime ISA, giving first-time buyers a helping hand on to the property ladder, has been launched.

Skipton Building Society’s deal pays an annual interest rate of 0.5%. It is only available online, although branch staff will be able to answer savers’ questions. Lifetime ISAs can be opened by anyone 18-39 to save for their first home, or their retirement, in the same pot, with a government bonus added.

Some providers launched investment versions of the Lifetime ISA when the scheme got under way in April.