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  • FIRST POST
    • Samfothers85
    • By Samfothers85 14th Feb 18, 7:04 AM
    • 6Posts
    • 1Thanks
    Samfothers85
    Lifetime ISA payout
    • #1
    • 14th Feb 18, 7:04 AM
    Lifetime ISA payout 14th Feb 18 at 7:04 AM
    Morning all, we plan on buying our first house in early summer, both myself and my partner have LISa’s and plan on receiving the maximum payout from this current tax year and the new year. When we have everything in place and pay our fees and mortgage do we receive the L’ISA bonus right away to count towards the deposit or do we receive the bonus after completion.

    Many Thanks
Page 1
    • eskbanker
    • By eskbanker 14th Feb 18, 8:39 AM
    • 6,260 Posts
    • 6,333 Thanks
    eskbanker
    • #2
    • 14th Feb 18, 8:39 AM
    • #2
    • 14th Feb 18, 8:39 AM
    Unlike Help To Buy ISAs, where the bonus is claimed right at the end when making the property purchase, the bonuses are added to a LISA as you go, at the start of the 2018/19 tax year for any contributions in 2017/18 and then monthly from then on.

    So, if you pay in the full £4K each in the first month of the new tax year, you'll each have full bonuses automatically added to your LISAs by late May or early June.

    See https://www.moneysavingexpert.com/savings/lifetime-ISAs#buyingaproperty for further info....
    • Samfothers85
    • By Samfothers85 14th Feb 18, 8:59 AM
    • 6 Posts
    • 1 Thanks
    Samfothers85
    • #3
    • 14th Feb 18, 8:59 AM
    • #3
    • 14th Feb 18, 8:59 AM
    Perfect! Thanks so much
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