We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Using Lifetime ISA for transfer of equity
andauos
Posts: 3 Newbie
My partner has a joint mortgage with her brother.
If I buy her brother out (transfer of equity) would this still qualify for the 25% goverment bonus?
(I will be looking to take on his share of the mortgage plus what I would need to buy him out with a mixture of deposit and addtional loan.)
If I buy her brother out (transfer of equity) would this still qualify for the 25% goverment bonus?
(I will be looking to take on his share of the mortgage plus what I would need to buy him out with a mixture of deposit and addtional loan.)
0
Comments
-
Potentially it would qualify, if her brother formally sells his stake in the property to you and you either remortgage the property with your partner or are able to convince a lender to take a second charge.
You would need to discuss with a conveyancer/solicitor as to whether the terms of the transaction meet eligibility criteria. It may be cheaper overall to transfer the equity in a way that wouldn't qualify for a penalty free LISA withdrawal.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards