Lifetime ISAs guide

rachlikeswinter

sully1311 said:

Does the LISA bonus ever get paid on the weekend? I believe the 14th day for the bonus to arrive for the last period is Sunday but I'd doubt HMRC would send money at the weekend?

Good point - I was expecting my bonus today for this very reason. I would imagine we'll see it in there on Monday but maybe interest would start from Sunday.

Been checking my account daily because I'm in the process of buying a flat (hopefully) and 100% need this last bit of bonus in there ASAP 

sully1311

rachlikeswinter said:

sully1311 said:

Does the LISA bonus ever get paid on the weekend? I believe the 14th day for the bonus to arrive for the last period is Sunday but I'd doubt HMRC would send money at the weekend?

Good point - I was expecting my bonus today for this very reason. I would imagine we'll see it in there on Monday but maybe interest would start from Sunday.

Been checking my account daily because I'm in the process of buying a flat (hopefully) and 100% need this last bit of bonus in there ASAP 

Similar position to you!

pilotamx

I have a question towards opening a LISA and buying an house. I'm 38yo and looking to buy an house with my partner who is 35yo. I have a LISA and he does not. Let's say he open a LISA right now and deposit £4k. The provider will receive and credit the £1k bonus from the goverment (with my account it happens normally in 30/40 days). Can we safely use LISA for buying an house just right after having received the bonus from the government? It seems to easy... 

rachlikeswinter

pilotamx said:

I have a question towards opening a LISA and buying an house. I'm 38yo and looking to buy an house with my partner who is 35yo. I have a LISA and he does not. Let's say he open a LISA right now and deposit £4k. The provider will receive and credit the £1k bonus from the goverment (with my account it happens normally in 30/40 days). Can we safely use LISA for buying an house just right after having received the bonus from the government? It seems to easy... 

You can only use a LISA towards buying a house if the account is open for at least 12 months. If you won't buy for at least this amount of time, then yes get him to open one right now, and deposit the full £4k as you say. If you know you'll buy before 12 months, then you can only use yours (presuming yours has been open for more than a year when it comes to purchase).

pilotamx

rachlikeswinter said:

You can only use a LISA towards buying a house if the account is open for at least 12 months. If you won't buy for at least this amount of time, then yes get him to open one right now, and deposit the full £4k as you say. If you know you'll buy before 12 months, then you can only use yours (presuming yours has been open for more than a year when it comes to purchase).

Thanks. Yes my one has been opened for 3 years...so it's fine. His one obviously no, although he should get one anyway

sully1311

rachlikeswinter said:

sully1311 said:

Does the LISA bonus ever get paid on the weekend? I believe the 14th day for the bonus to arrive for the last period is Sunday but I'd doubt HMRC would send money at the weekend?

Good point - I was expecting my bonus today for this very reason. I would imagine we'll see it in there on Monday but maybe interest would start from Sunday.

Been checking my account daily because I'm in the process of buying a flat (hopefully) and 100% need this last bit of bonus in there ASAP 

My bonus is in!

rachlikeswinter

sully1311 said:

rachlikeswinter said:

sully1311 said:

Does the LISA bonus ever get paid on the weekend? I believe the 14th day for the bonus to arrive for the last period is Sunday but I'd doubt HMRC would send money at the weekend?

Good point - I was expecting my bonus today for this very reason. I would imagine we'll see it in there on Monday but maybe interest would start from Sunday.

Been checking my account daily because I'm in the process of buying a flat (hopefully) and 100% need this last bit of bonus in there ASAP 

My bonus is in!

Yaaas mine too  

anewman

nikkiek said:

And if using the lifetime ISA for retirment, does opening a lifetime ISA affect your workplace pension and your employer's contribution?

If intending to use for retirement you might well be better off purchasing AVCs in your current scheme.

Mick70

hi al,
was going to start a new thread but thought would post on this one incase other posters can help me.
Daughter has turned 18 and I want to start putting in savings to help her for when she buys a house, say in 5 years time or whenever  ,  I know the help to buy isa has now gone so is the lifetime isa the best route to go down or are there other better saving options ?
If its the lifetime ISA , which providers are offering best ones ?   I currently have £10k saved for her but the bank does not do Lifetime ISA , so i'm assuming i could transfer £4k pa over and do this each year?

many thanks
 mick

kelis_2

Apologies if this has been asked before, or if I am asking in the wrong place...my daughter opened a LISA last year with Moneybox, to save for a first time house purchase. It now looks like her first house purchase will be jointly with her boyfriend who is already on the property ladder. My question is, will she be allowed to use the LISA for her half of the purchase,  as she will be a first time buyer, but he won't be? Thank you 😊