Help to Buy ISA and LISA eligibility

emptyplate

Hi,
I am just about to start my first job and thought it would be a good idea to start putting some money away towards a house. I have been looking at both the help to buy ISA's and LISA's however I am not sure if I am eligible. For both of them it says that you cannot own a home anywhere in the world. I inherited half of a house about 17 years ago, does this mean that I do not meet the criteria? Thanks for your help.

David

eskbanker

emptyplate wrote: »

For both of them it says that you cannot own a home anywhere in the world. I inherited half of a house about 17 years ago, does this mean that I do not meet the criteria?

The relevant wording (in https://www.helptobuy.gov.uk/documents/2015/12/eligibility-of-ftbs.pdf and elsewhere) starts with "I do not own, and never have owned any interest in land, whether in the United Kingdom or elsewhere [which involves a dwelling]" so you're not eligible as a first-time buyer under the HTB or LISA schemes.

badger09

emptyplate wrote: »

Hi,
I am just about to start my first job and thought it would be a good idea to start putting some money away towards a house. I have been looking at both the help to buy ISA's and LISA's however I am not sure if I am eligible. For both of them it says that you cannot own a home anywhere in the world. I inherited half of a house about 17 years ago, does this mean that I do not meet the criteria? Thanks for your help.

David

Can you clarify what you mean by 'I inherited half of a house':cool:

Do you mean ownership of a house was transferred directly to you and a n other on someone's death, or that you and a n other inherited the proceeds from the sale of a house?

If the former, then eskbanker is correct. If the latter, you qualify.