- Experts rate Hargreaves Lansdown's Lifetime ISA highly, noting the significant tax savings available for different taxpayer brackets and the attractive government bonus of up to 25% on contributions. The platform offers a wide range of investment options, including over 3,000 funds and various asset classes, while maintaining competitive fees, particularly for larger investments.
- Across 1775 user reviews on Good Money Guide, averaging 3.8/5, customers frequently highlight the platform's user-friendly app and excellent customer service, with many appreciating the extensive investment options available. However, some users express concerns about high fees and occasional difficulties with account management and customer support responsiveness.
Hargreaves Lansdown Lifetime ISA Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Hargreaves Lansdown Lifetime ISA across five key areas of our review framework.
- Pricing4.0
- Market Access5.0
- App & Platform5.0
- Customer Service5.0
- Research & Analysis5.0
Pros
- Investment options
- Established provider
- Good interest rates
Cons
- Account charge
See full expert review
Our verdict
Hargreaves Lansdown's Lifetime ISA is a great way to take advantage of the 25% government bonus with your £4,000 Lifetime ISA allowance as fees are low and there are a huge number of markets to invest in.
Does HL have a good Lifetime ISA?
The latest LISA analysis from Hargreaves Lansdown found that if you invested the full allowance in a stocks and shares Lifetime ISA over 30 years, the tax saving for a basic rate taxpayer could be £26,935, for a higher rate taxpayer £59,949 and for an additional rate taxpayer £66,044.
When you deposit money into a Hargreaves Lansdown lifetime ISA, the government will top that amount up by up to 25%. It is one of the best ways to get a head start save for your first home, or to save for your retirement.
Once you add in the government top up, a Lifetime ISA investor could be £129,568 better off than a basic rate taxpayer investing outside an ISA, £162,581 better off than a higher rate taxpayer and £168,676 better off than an additional rate taxpayer
Hargreaves Lansdown's Lifetime ISA also benefits from free account opening.
In terms of administrative fees for the lifetime ISA, Hargreaves Lansdown operates a scaled charging system with a fee of 0.25% on the first £1.0 million of investments, if that money is held in funds
Those charges fall to 0.1%, for fund holdings worth between £1.0 and £2.0 million and fall to zero for investments that are larger than £2.0 million.
However, if the investor only holds UK and overseas equities, investment trusts, ETFs, VCTs or Gilts and other bonds, in their Lifetime ISA, then fees are charged at 0.25% capped at a maximum of £45.0 per annum.
The HL LISA is geared more towards more confident investors Hargreaves Lansdown gives you one of the most flexible Lifetime ISAs where you can choose exactly what to invest in. With the HL LISA you can invest in over 3,000 funds, UK and international shares as well as investment trusts, bonds and ETFs.
Customer reviews for Hargreaves Lansdown
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 1,775 reviews
- Excellent27%
- Very good38%
- Basic24%
- Poor7%
- Bad4%
Read customer reviews
NA
NA
Expensive
Expensive
Very good custome service
Very good custome service
could be cheaper compared to...
could be cheaper compared to others
a bit costly and they...
a bit costly and they don't hold all the shares you might want
Good mobile app, easy to...
Good mobile app, easy to use but the website could be made more user friendly
Super tool for investing
Super tool for investing
OK
OK
Platform is too 'clunky' and...
Platform is too 'clunky' and unnecessarily complex. Charges are high and unjustifiably so for holding funds
To expensive
To expensive
Very good platform that is...
Very good platform that is user friendly
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.
Expensive and inflexible
Expensive and inflexible
Not the cheapest but using...
Not the cheapest but using the platform is simple. They cut costs a year or so, and there was a downturn in customer service
Rapid access and trading.
Rapid access and trading.
Some serious functionality issues with...
Some serious functionality issues with their Watchlists
Competent and reliable
Competent and reliable
Good but costs are high
Good but costs are high
good facility, probably bit dear
good facility, probably bit dear
Very easy to use, but...
Very easy to use, but expensive.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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