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Lifetime ISA and Tied Housing
hazywhisky
Posts: 1 Newbie
Hi folks,
I'm wondering about wisdom of lifetime ISAs for those who live in tied housing (housing that is included as part of one's job). I recently got married and my wife is a vicar. That means we do and will continue to live a vicarage for the foreseeable future. This benefit is part of her stipend (salary). But when we retire, or move into another career, we may need to be able to buy somewhere. I have a lisa I started a few years ago and she is considering opening one. I the ideal situation would be to buy as soon as we have a deposit and rent out so that we can use or sell the property when we stop working. However my understanding is that lisa cannot be used for Buy to Let purposes (understandably). We have no choice but to live in tied housing however so cannot live a property which we may buy. Does that mean a new lisa is a bad idea and that I should not put anymore into mine? Or, is there any flexibility for those in tied housing (military personnel and some other professions also have this problem I am led to believe).
Thanks
I'm wondering about wisdom of lifetime ISAs for those who live in tied housing (housing that is included as part of one's job). I recently got married and my wife is a vicar. That means we do and will continue to live a vicarage for the foreseeable future. This benefit is part of her stipend (salary). But when we retire, or move into another career, we may need to be able to buy somewhere. I have a lisa I started a few years ago and she is considering opening one. I the ideal situation would be to buy as soon as we have a deposit and rent out so that we can use or sell the property when we stop working. However my understanding is that lisa cannot be used for Buy to Let purposes (understandably). We have no choice but to live in tied housing however so cannot live a property which we may buy. Does that mean a new lisa is a bad idea and that I should not put anymore into mine? Or, is there any flexibility for those in tied housing (military personnel and some other professions also have this problem I am led to believe).
Thanks
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