May 2020

Lifetime ISA holders who withdraw money from their account will effectively face no penalty until next April, after the Government announced changes to its rules.

The financial regulator is proposing measures to help customers struggling to pay insurance premiums due to coronavirus. It's proposing payment holidays of up to three months, plus has told insurers to look at whether cover still provides "value" to the customer where the pandemic means the policy is no longer suitable or where they can't use certain benefits of their cover.