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LISA & property purchase
arduffy1
Posts: 1 Newbie
Hi all, new to this forum so apologies if this Question has already been asked.
i would like to know if it is possible to use my LISA to purchase a buy to let property and still recieve the government bonus element Of my LISA ?
thank you
i would like to know if it is possible to use my LISA to purchase a buy to let property and still recieve the government bonus element Of my LISA ?
thank you
0
Comments
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No, if you wish to benefit from the LISA bonus, the property has to be your main residence, as explained at https://www.gov.uk/guidance/lifetime-isa-withdrawals-for-a-first-time-residential-purchase
On completion of the purchase, the Lifetime ISA investor must occupy the property as their only or main residence.
It must always be the investor’s intention to occupy their property as their only or main residence when they are able to.
A withdrawal charge will apply when the funds in a Lifetime ISA are used to purchase land or property that the investor will let or use as a holiday home.
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