The total value of Lifetime Isa (Lisa) withdrawal charges hit just over £75.2 million in 2023-24 nearly 40% higher than the previous year when they totalled £54.3 million.

The money-saving expert has warned that you could be doing more harm than good by buying presents for everyone you know this Christmas

With 99 days to go until the big day, Mr Lewis - the BBC Radio Five Live star - had a warning for people saving up for the festive season.

In the 2023 to 2024 tax year, the number of savers being penalised rose by 30 per cent year-on-year from the previous financial year.

The new Labour Party government can penalise people withdrawing their own cash from Lisas prematurely, Money Saving Expert founder Mr Lewis said.

Martin Lewis has issued a warning to Brits as they get ready to start the Christmas shopping, as the money-saving expert said a lot of people make very common mistakes when it comes to the festive season

Those wanting to get their first home may be hit by hefty fines due to account rules, Martin Lewis told BBC Radio 5 Live

Sounds podcast host has delved into the topic of Lifetime ISAs on his latest episode, which dropped for subscribers on Sounds and Apple Podcasts and Spotify this week.

The BBC Sounds podcast host has discussed Lifetime ISAs on his latest episode of the show, which dropped on Sounds this Wednesday.