Lifetime ISA vs Help to Buy ISA: Which Is Better for Me?

Government bonus schemes for your deposit sound free until you read the penalty rules. Give your age, current ISA balance and type, target price and timeline, and you get the Lifetime ISA and Help to Buy ISA explained clearly: the bonus mechanics, withdrawal rules, penalties, and which one fits. For first-time buyers trying to make a deposit go further.

I want to use a government scheme to boost my house deposit. I currently have {CURRENT_ISA_BALANCE} in a {EXISTING_ISA_TYPE} and I'm {AGE} years old. My target purchase price is {TARGET_PRICE} and I'm hoping to buy within {BUYING_TIMELINE}.

Explain the key differences between the Lifetime ISA and the now-closed Help to Buy ISA (including the first-time buyer bonus mechanics, withdrawal rules, penalties, and property price caps). Given my age, existing balance, timeline, and target price, tell me whether I should be maximising my Lifetime ISA contributions now or whether any alternative savings vehicle would serve me better. Include the 25% government bonus calculation for my scenario.