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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Lifetime ISA and making an offer
brj1294
Posts: 6 Forumite
Hello
I will not be able to access my lifetime ISA until 23 June 2020. By end of April 2020, it will have all the funds in it needed for a house deposit. Would I be able to start house hunting before 23 June and make an offer on somewhere? Or should I wait until the date that the funds can be accessed?
I will not be able to access my lifetime ISA until 23 June 2020. By end of April 2020, it will have all the funds in it needed for a house deposit. Would I be able to start house hunting before 23 June and make an offer on somewhere? Or should I wait until the date that the funds can be accessed?
0
Comments
-
You need that money to be available at completion. Work on 2-3 months between offer and completion, and you probably won't be far off. So, yes, six months out is too early.
You can, of course, start looking at any time - it'll help you to decide your priorities and what you're willing to compromise on.0 -
The money can be used for your exchange deposit, and will be requested by your solicitor at that point. If you are putting down more than 10%, the remainder will be used for the rest of your deposit at completion.
Are you planning on topping it up with 4k at the start of the new tax year? If so, the bonus won't be available till end of May.
I made an offer in August and my LISA wasn't available Till October. It was fine.0 -
Yes, I'm going to add 4k in April - thanks for letting me know about the bonus coming at end of May.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards