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Using LISA for Mortgage
Afternoon
Posts: 18 Forumite
Hi there
I've recently received an inheritance and was wanting to put that towards my first property. I would also to use my LISA as well. So far I've been maxing it out (£4k). I've been looking at the smallest mortgages possible so I can use the bonus money from the government towards my first home. I've been looking at the government website and it states that it needs to be used with a mortgage, therefore, are there any issues you think could arise from doing so? I read somewhere that anything under £25,000 is not considered a mortgage but I've also heard otherwise, I was hoping to take out about £5,000 for my mortgage.
Thanks
I've recently received an inheritance and was wanting to put that towards my first property. I would also to use my LISA as well. So far I've been maxing it out (£4k). I've been looking at the smallest mortgages possible so I can use the bonus money from the government towards my first home. I've been looking at the government website and it states that it needs to be used with a mortgage, therefore, are there any issues you think could arise from doing so? I read somewhere that anything under £25,000 is not considered a mortgage but I've also heard otherwise, I was hoping to take out about £5,000 for my mortgage.
Thanks
0
Comments
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https://forums.moneysavingexpert.com/discussion/6230450/buying-a-house-with-a-lisa#latest
Answers given here.Mortgage started 2020, aiming to clear 31/12/2029.0
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