What are Lifetime ISAs, how do they work and who should get one? Martin Lewis has the answers after the first CASH Lifetime ISA was launched last week.
He is right. 6% is the net amount you lose when you withdraw. When you put 100, you’ll get a bonus 25, so your total will be 125. If you withdraw that 125, you lose 25% of that (which is 31.25), and end up getting only 93.75. That’s the 6% loss on 100 he is talking about. This calculation works out for any amount you put in.
