LISA and H2B ISA combo

djfairbrother

Hi

I’ve just opened a LISA because I’m pretty sure I’m going to use the savings I currently have in a cash ISA to buy a house one day, so I’ll be transferring the max amount into the LISA each year. There will still be some left in my Cash ISA so thinking of my partner opening a H2B ISA so we can put some money in there too. Then we would have a bit of flexibility if we need some of the savings for anything before we buy a house. We live together but we’re not married yet, although we plan to get married next year.

So the questions I have are:
1. Is it ok for me to transfer money from my Cash ISA to my partners current account, for her to then put into a H2B ISA?
2. If we get married would this affect the above plan at all?

Really appreciate any help :-)

Thanks

masonic

Yes you can gift the money to your partner so that she can put it in a HTB ISA. It will then be her money of course, so she would be in a position to keep it should the two of you split up. When you buy, your chosen property would need to meet the conditions of both schemes (e.g. the lower value limit of the HTB ISA outside London).

If you are both first time buyers, getting married before buying will not make any difference to your eligibility.