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
LISA Query
homestraight
Posts: 83 Forumite
Hi all
My friends are a couple who are both first time buyers looking to buy in the next few months. They have a deposit but have never heard of LISAs til now.
They wondered if they could get £4k bonus (£2k each) I total using either side of this current tax year in April? They would but in May or June if so.
The comes due to this quote
"To be able to be eligible for the government bonus, you must have opened a Lifetime ISA at least 12 months ago."
From:
https://lifetimeisa.campaign.gov.uk/
Does that scupper their plans? It won't be 12 months and they would want to buy very soon.
Thanks
HS
Ps 1 of them has a small htb isa they would transfer to their lisa too
My friends are a couple who are both first time buyers looking to buy in the next few months. They have a deposit but have never heard of LISAs til now.
They wondered if they could get £4k bonus (£2k each) I total using either side of this current tax year in April? They would but in May or June if so.
The comes due to this quote
"To be able to be eligible for the government bonus, you must have opened a Lifetime ISA at least 12 months ago."
From:
https://lifetimeisa.campaign.gov.uk/
Does that scupper their plans? It won't be 12 months and they would want to buy very soon.
Thanks
HS
Ps 1 of them has a small htb isa they would transfer to their lisa too
0
Comments
-
Yes the LISA needs to be open at least 12 months before the solicitor can make a penalty free withdrawal for a qualifying property purchase.1
-
Thanks Alexland. That's a shame.
I'll look into what they can do with the htb isa0
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