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Dumb questions about LISAs

Rawhy
Rawhy Posts: 25 Forumite
Third Anniversary
in Savings & investments
  1. Can I use my LISA to pay only part of my deposit? I.e. if I don't have enough in my LISA, can I pay what ever I can with my LISA and pay the rest with money from elsewhere?
  2. Can I use only part of my LISA to pay the deposit?

Thank you in advance

Comments

  • eskbanker
    eskbanker Posts: 38,151 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rawhy wrote: »
    Can I use my LISA to pay only part of my deposit? I.e. if I don't have enough in my LISA, can I pay what ever I can with my LISA and pay the rest with money from elsewhere?
    Yes.
    Rawhy wrote: »
    Can I use only part of my LISA to pay the deposit?
    Yes, but bear in mind that anything you leave in the LISA that isn't put towards your first property purchase would incur 25% withdrawal penalties when accessed, unless you wait until you're 60.
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