I'm planning to get my first home next year and thinking to open a lifetime ISA account.
Can someone advise on these things please, still not quite sure:
Is there any minimum amount of money to transfer to LISA monthly to get the government bonus?
Do I transfer the money through Direct Debit or manually?
"Save up to £4,000 every tax year towards a first home?" What does it mean? The max transfer is £4000 to be eligible for the bonus?
I have instant cash ISA with Barclays, do I need to close my existing ISA account before applying for LISA?
I don't quite understand when I need to pay for my first home deposit, do I just transfer the agreed deposit amount to my LISA account? And also does it mean the bank will automatically withdraw from my LISA account too?