Can my partner and I combine his Help to Buy and my Lifetime ISA?

rushi

Hi. Question as in thread title - my partner has a Help to Buy ISA and I have a Lifetime ISA. We're both first-time buyers. Can we combine these to buy a house together? I'd assumed we could but can't seem to find confirmation anywhere online... Thanks.

diggingdude

You can if memory serves but the house would have to meet the more restricted h2b conditions re price 

thaddy

Yes you can use your ISAs together on any property as long as the price does not exceed £250k due to the maximum limit for Help to Buy ISAs (there's a higher price limit of £450k in London). LISAs have a higher maximum limit of £450k so only one of you could use it if the property is over £250k and not in London. Conveyancing solicitors usually charge around £50 for each ISA used but it could be more.

rushi

thaddy said:

Yes you can use your ISAs together on any property as long as the price does not exceed £250k due to the maximum limit for Help to Buy ISAs (there's a higher price limit of £450k in London). LISAs have a higher maximum limit of £450k so only one of you could use it if the property is over £250k and not in London. Conveyancing solicitors usually charge around £50 for each ISA used but it could be more.

Thank you thaddy and diggingdude. For my own reference, where did you get this info from? I just couldn't find anything online that mentions it.

thaddy

If you search for Help to Buy and LISA on the government website you can see the information on FAQs about maximum property prices (see links below). I don't think it spells out the use of both ISAs as such so that's from my own experience as long as you meet the criteria for each you can use them on the same property. For the conveyancer quotes you need to tell them up front if you are using both ISAs because they may be charged separately for the work involved.

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/

https://lifetimeisa.campaign.gov.uk/#withdrawing_for_your_first_home