Martin Lewis urges young adults to open Lifetime ISA accounts now

Financial expert Martin Lewis went on ITV's This Morning this week to urge people aged 18 to 39 to open a Lifetime ISA as soon as possible. His advice was simple: put in just £1 now to secure your eligibility before the government possibly changes the rules next year.

A Lifetime ISA lets savers put away up to £4,000 each tax year. The government then adds a 25% bonus, worth up to £1,000 annually. The money can go towards buying a first home costing up to £450,000, or savers can access it after turning 60.

Crucially, the account must stay open for at least 12 months before the bonus applies to a home purchase. Providers such as Moneybox and Plum both allow people to open an account with a single pound.