If you do not need to withdraw your full LISA balance for a property purchase, you can request a partial withdrawal instead. The excess funds left in your account can then either be used to save towards retirement, or they can be withdrawn separately to your bank account.

When saving towards retirement, you’re able to pay into your LISA until you turn 50, with any contributions still earning the 25% government bonus. Once you reach 60, you can then withdraw your funds without the government penalty.

If you choose to withdraw the excess funds to your bank account, please note that the 25% government penalty would apply, as you would have already withdrawn for your property purchase.