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  • FIRST POST
    • emptyplate
    • By emptyplate 12th Jul 17, 10:58 AM
    • 1Posts
    • 0Thanks
    emptyplate
    Help to Buy ISA and LISA eligibility
    • #1
    • 12th Jul 17, 10:58 AM
    Help to Buy ISA and LISA eligibility 12th Jul 17 at 10:58 AM
    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
Page 1
    • eskbanker
    • By eskbanker 12th Jul 17, 11:25 AM
    • 5,789 Posts
    • 5,672 Thanks
    eskbanker
    • #2
    • 12th Jul 17, 11:25 AM
    • #2
    • 12th Jul 17, 11:25 AM
    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?
    Originally posted by emptyplate
    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
    • By badger09 12th Jul 17, 12:14 PM
    • 5,384 Posts
    • 4,616 Thanks
    badger09
    • #3
    • 12th Jul 17, 12:14 PM
    • #3
    • 12th Jul 17, 12:14 PM
    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
    Originally posted by emptyplate
    Can you clarify what you mean by 'I inherited half of a house'

    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.
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