LISA info when buying with partner

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RJM19882018
RJM19882018 Posts: 4 Newbie
in ISAs & tax-free savings
Hi all,

This is my first post so be gentle! !!!128521; I’m going to get a LISA before the end of this tax year and put in the £4000. I will be buying a house for the first time however I will be buying with my partner who already owns her own house, does this stop/affect me using the LISA?

Thanks in advance!

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  • Alexland
    Alexland Posts: 9,653 Forumite
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    Welcome to the forums.

    You are fine provided you individually qualify. It has to be a proper purchase using registered solicitors - you can't use the LISA if you are just getting added to your partner's mortgage or land registry records.
  • RJM19882018
    RJM19882018 Posts: 4 Newbie
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    How do you mean individually qualify? Surely as she has her own property she wouldn’t qualify for one? The plan is for me to save as much as possible and she uses some of her equity from her current property and we put it together as a deposit?
  • Alexland
    Alexland Posts: 9,653 Forumite
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    edited 4 March 2018 at 9:25PM
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    RJM19882018 wrote: »
    How do you mean individually qualify? Surely as she has her own property she wouldn!!!8217;t qualify for one? The plan is for me to save as much as possible and she uses some of her equity from her current property and we put it together as a deposit?

    You would need to individually qualify (under 40, FTBer, etc) and be making a qualifying purchase (under £450k, with mortgage, etc) and you could use your LISA towards the purchase. Your partner would not qualify (unless they want the LISA to invest for retirement) but you could still buy together and use your LISA with bonuses.
  • RJM19882018
    RJM19882018 Posts: 4 Newbie
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    Sorry for sounding stupid but you said we both need to qualify which my partner doesn’t, so how can I use mine with her if she doesn’t qualify?
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    RJM19882018 wrote: »
    Sorry for sounding stupid but you said we both need to qualify which my partner doesn’t, so how can I use mine with her if she doesn’t qualify?
    Alexland's wording was perhaps slightly ambiguous - 'you individually qualify' was intended to mean 'you (singular) personally qualify' not 'you (plural) each qualify'.
  • RJM19882018
    RJM19882018 Posts: 4 Newbie
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    Ok thanks for clearing that up, with regards to paying into it, I’ve signed up now but do I have to put the 4000 in one lump or can I do it here and there before the end of the tax year?
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
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    RJM19882018 wrote: »
    Ok thanks for clearing that up, with regards to paying into it, I’ve signed up now but do I have to put the 4000 in one lump or can I do it here and there before the end of the tax year?

    Either is fine. You can make several deposits or just one.
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