A couple of LISA questions before I switch

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 1.5K views
davebrayley77davebrayley77 Forumite
2 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I'm 40 in 2 months so the clock is ticking and I need to make the decision whether to transfer my help to buy savings into a LISA, have done all the research I can but still find myself with a couple of unanswered questions. Thanks in advance for any help with the below:

1) The maximum bonus with a help to buy is £3000, I seem to remember reading somewhere that if a LISA is used to buy a fist property then the maximum bonus you can receive from the LISA is also £3000, despite the fact that if used as a retirement plan the bonus is much more, is this accurate or is my memory letting me down?

2) You cannot rent your home out if using a LISA to buy it (unless circumstances change...) but my plan is to rent a room out and have a lodger. Is this allowed?


This discussion has been closed.
Latest MSE News and Guides

Energy price cap could be extended beyond 2023

New plans have just been announced by the Government

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals