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LISA and Deposit
dimbo61
Posts: 13,727 Forumite
Hi Guys,
So my friends have a 10% deposit saved and mortgage offer from one of the big high street lenders.
With the new tax year and chance to save more into their LISA,s can they pay more than 10% and still keep the brilliant 5 year fixed deal they have been approved for ?
Broker has told them to overpay if they want once they have moved in but they don't get the LISA bonus unless used towards the deposit .
They don't want a small amount of money sat in a LISA for 30+ years if they can only use towards a pension without 25% penalty if they withdraw the money
So my friends have a 10% deposit saved and mortgage offer from one of the big high street lenders.
With the new tax year and chance to save more into their LISA,s can they pay more than 10% and still keep the brilliant 5 year fixed deal they have been approved for ?
Broker has told them to overpay if they want once they have moved in but they don't get the LISA bonus unless used towards the deposit .
They don't want a small amount of money sat in a LISA for 30+ years if they can only use towards a pension without 25% penalty if they withdraw the money
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