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Using LISA towards mortgage on partners property
Wheresmym0ney
Posts: 1 Newbie
Does anyone know if you can use the LISA towards a mortgage that a partner already has?
This is the situation my and my partner are in currently.....He has a house and mortgage in his name and I have a LISA I want to use towards my first house.
Can I use this money to 'buy in' to his mortgage rather than moving and buying a new property with a shared mortgage I would just be adding to his?
It seams unreasonable if you can't as I still meet the criteria as this being my first interest in property but rather than buying from scratch I would be adding my part into my first property
Thanks
This is the situation my and my partner are in currently.....He has a house and mortgage in his name and I have a LISA I want to use towards my first house.
Can I use this money to 'buy in' to his mortgage rather than moving and buying a new property with a shared mortgage I would just be adding to his?
It seams unreasonable if you can't as I still meet the criteria as this being my first interest in property but rather than buying from scratch I would be adding my part into my first property
Thanks
0
Comments
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I’m not sure you being put on the mortgage will act as a qualifying event for you to be able to use your Lifetime ISA, however you can always use your Lifetime ISA when you get around to buying a property with your partner."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
Yes it would need to be a properly conveyenced transaction with the solicitor making the penalty free LISA withdrawal.0
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