When can we buy?

rapple7

Hi, I have a LISA that I opened on 3rd march 2018 and my husband has savings that can be accessed at ant time. How soon will i receive my bonus and do i have to wait for the bonus money to be in my account before we can start the purchase of a house? LISA is with Skipton, both first time buyers. Thanks in advance

pinknsparkly

You can use the LISA to buy a house once the account has been open for 1 year. Bear in mind, that on top of this, Skipton require 30 days to release the funds (we didn't realise this in advance and has to delay completion on our house!).

The bonus is paid in each time you make a deposit - Skipton says that if you deposit your money before 5th of the month, then the bonus is paid in at the end of the following month, otherwise it is paid out two months later. This was our experience with Skipton. So, if you still need to add any money to the account then add it asap (before 5th Feb) and the bonus should be paid at the end of March.

Edited to add: I found Skipton very helpful with answering questions - I contacted them via the online banking messenger service, so I would suggest sending them a message if you have any questions!

diggingdude

You can request the Lisa funds up to 30 days before maturity I was informed which might help speed things up