Save for your first home in a Shariah Lifetime ISA
Take advantage of a 25% Government bonus added to any money you save in a Lifetime ISA towards your first home without compromising your beliefs. Investing carries risk.
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What is a Foresters Shariah Lifetime ISA?
A Shariah compliant way to save for a home
A Shariah Lifetime ISA is for those ages 18-39 and a UK resident, to save in a Shariah compliant fund. You can save towards your first home and/or for after age 60, with a 25% government bonus to add to your savings.
Investing in what you believe in
The Shariah Lifetime ISA aims to grow the investment over the medium to long-term by investing in a Shariah compliant portfolio of shares from around the world. A Shariah Supervisory Board and Shariah Adviser have been appointed to ensure all investments in the fund meet Shariah Investment Guidelines. Your investment will be looked after by the experts at Schroders who make the investment decisions on your behalf.
Gain a £1,000 bonus each tax year
Save up to £4,000 each tax year and gain £1,000 from the government bonus added to your Shariah Lifetime ISA. Monthly and single contributions start from £20 and our contributions are flexibility to save as and when you can. This £4,000 counts towards your overall ISA allowance.
Become a Foresters member
By saving with us you become a member and will have access to a range of exclusive benefits. Such as volunteer grants, member discounts and will writing – just to name a few! Discover our member benefits >
Member benefits are not regulated by the Prudential Regulation Authority or the Financial Conduct Authority and may change in the future.
Our Shariah ISA
Our ISA is the only ISA on the market where you can save in a Shariah Lifetime ISA and Shariah Stocks and Shares ISA in the same Plan. With a Shariah Stocks and Shares ISA you can save even more towards your future goals and you can access the money when you need to.
Transfers from your Shariah Stocks and Shares ISA to your Shariah Lifetime ISA can be made, so you can make the most of the government bonus. You can also split the minimum contribution amount of £20 to a minimum of £10 in each ISA.
Is a Shariah Lifetime ISA right for me?
✓ Want to save towards your first home and/or for age 60
✓ Want an added 25% government bonus
✓ Looking for low minimum contributions
✓ One, simple annual management charge
✓ UK resident, aged 18-39
✓ Invests under Islamic guidance
With an ISA tax treatment depends on individual circumstances and may be subject to change. As with all stock market investments the value of your ISA can fall as well as rise.
A Lifetime ISA must be held for at least 12 months before using it towards the purchase of a first home in the UK up to £450,000. By saving into a Lifetime ISA instead of a workplace pension, you could lose the benefit of employer contributions and the value could affect any entitlement to means tested benefits.
The government bonus will apply to any contributions (up to £4,000) until your 50th birthday, which you can access at age 60. If you make a withdrawal from the Lifetime ISA before age 60, other than to purchase your first home, you will pay a government penalty of 25% on the withdrawal amount, and you may get back less than you paid in.
Shariah compliant investment choice
The Foresters (Schroders) Managed Islamic Global Fund invests in the Schroder Islamic Global Equity Fund. Aiming to grow your investment over the medium to long-term with a medium investment risk.
- Invests in a Shariah compliant portfolio of shares from around the world.
- Only invests in companies included in the Dow Jones Islamic Market World (Net Total Return) Index.
- A Shariah Supervisory Board and Shariah Adviser have been appointed to ensure all investments in the fund meet Shariah Investment Guidelines.
Shariah ISA Important information KID
The fund may not invest in companies where more than 5% of their total income is made from prohibited activities or industries, such as below...
Alcohol and tobacco
Entertainment inc. Hotels/gambling
Pork-related products
Non-Islamic financial services
Weapons and defence
For more information on how the fund is invested read the Shariah Important Information and Key Information document.
Want to save with a choice of funds?
We offer a Lifetime ISA that also has a choice of funds, with one of these having a specific focus on sustainability.
Manage your savings with MyPlans
View the Lifetime ISA value, make contributions, view fund performance, documents, and so much more.
Existing customer? Login to MyPlans >
Financial guidance - at no cost to you
Meet with a Financial Adviser to discuss your options at your convenience.
Description of member benefits that you may receive assumes you are a Foresters member. Members must be 18 years of age or older and must have an active Foresters Plan and maintain it in good standing. Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice. Member benefits are not regulated by the Prudential Regulation Authority or the Financial Conduct Authority and may change in the future.
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