Hargreaves Lansdown Lifetime ISA (LISA) bonuses hit £50m this month, the firm has revealed.

Since the launch of the LISA in April 2017, more than 50,000 Hargreaves Lansdown have been opened. Furthermore, figures published by the treasury last month found that a total of 190,000 LISAs have been opened, with £170m paid in bonuses so far.

Commenting, Hargreaves Lansdown personal finance analyst Sarah Coles said: “First time buyers have had a £50 million leg-up onto the property ladder from HL Lifetime ISAs. According to Zoopla, that’s enough to buy Mansion House (a stately home in Westminster with 7-bedrooms and an indoor pool currently on the market for £36 million), with enough left over to pick up a £14 million Chelsea townhouse.

“And while it’s a fair bet neither of these properties are going to be snapped up by a first-time buyer (at least not unless they have particularly well-connected parents), LISAs are already making a huge difference to people saving hard for their first home.”

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