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LISA AND EXCHANGE OF CONTRACT CONFUSION
lsc2488
Posts: 1 Newbie
Hello, I hope someone can advise.
We are completing on our house purchase the 24th October. Our solicitors have had our LISA funds for nearly 3 months now. They have said that exchange of contract and completion is required to be on the same day (simultaneous completion) because they are not allowed to use our LISA funds as a deposit.
We are completing on our house purchase the 24th October. Our solicitors have had our LISA funds for nearly 3 months now. They have said that exchange of contract and completion is required to be on the same day (simultaneous completion) because they are not allowed to use our LISA funds as a deposit.
I have spoken to Moneybox who have said this is incorrect and they in-fact can use the deposit funds for the exchange then complete after.
Our solicitors have disagreed with this and say it is not possible!
I am struggling to understand this and is there a someone professional I can seek this information from?
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