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.
📨 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
Tatianarsdias
Posts: 2 Newbie
Hi everyone,
Me and my fiancé want to get into the property ladder fairly soon. We already have some savings aside but would like to open a Lifetime ISA to help us towards the deposit. Our question is, can we use the money saved in the LISA (with the Gov 25% bonus) alongside other savings when putting a deposit down?
For example we would use money from 2 LISAs plus some money from a different savings account. We're not sure if the LISA has to be the only thing going towards the deposit.
I hope this is clear enough and someone can help us.
Thank you
Me and my fiancé want to get into the property ladder fairly soon. We already have some savings aside but would like to open a Lifetime ISA to help us towards the deposit. Our question is, can we use the money saved in the LISA (with the Gov 25% bonus) alongside other savings when putting a deposit down?
For example we would use money from 2 LISAs plus some money from a different savings account. We're not sure if the LISA has to be the only thing going towards the deposit.
I hope this is clear enough and someone can help us.
Thank you
0
Comments
-
Yes, you can combine LISA money with other savings.1
-
Thank you,
Another question,
Let's say we open one each now, will we have access to the Gov. bonus for 2 tax years next September as it had been open for 12months and we went through 2 tax years?0 -
Correct, as long as you get the first £4000 x 2 (£4000 for each of you) into your individual LISA accounts within this tax year. I’d aim for depositing this before the end of March to make sure it clears in time.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards