Lifetime ISA - FTB Partner

CriminalQuantity

Hello
From what I have found so far I do not think it will be possible but am hoping for any additional guidance please.
I own the mortgaged property that my partner and I live in.  My partner has never owned property and has a lifetime ISA which we have been ensuring we put the max in each year.  The idea was for us to move to a house we would own jointly.  We have now decided that this is not feasible in the next few years  and would like to do some work on our existing property.
We are getting married so I would also like us to both own the property and both be on the mortgage.  We may also borrow additional funds in order to pay for the work on the house.
So my question is - is there any way that my partner can use the lifetime ISA for the transfer of equity from me to her?

eskbanker

There shouldn't be any reason for her not to use her LISA before you marry, as long as the equity transfer is handled as a full properly-conveyanced sale and purchase transaction.

CriminalQuantity

Thank you.
What should our next steps be please....approach my lender or a solicitor?
Out of interest and so I have the full picture is the transfer of equity etc possible when we are married? 

eskbanker

CriminalQuantity said:

Thank you.
What should our next steps be please....approach my lender or a solicitor?

You'll need to engage with both, but perhaps a solicitor first, to ensure that you find one who is able and willing to do what you need and who's familiar with LISAs.

CriminalQuantity said:

Out of interest and so I have the full picture is the transfer of equity etc possible when we are married? 

The reason I mentioned that was that, once married, she can be considered to have a legal interest in the property, even without her name being on the deeds or mortgage, by virtue of it being a marital asset (assuming there's no pre-nup provisions changing this), which then loses her FTB status as far as LISA is concerned.