LISA questions - tax years and buying with partner who has a Help to Buy ISA
I have a Help to Buy ISA which, with projected interest payments and the full £200/month top up, will be maxed out in around June 2026, which due to rental terms is when my partner and I are aiming to buy.
I am considering changing to a LISA predominantly as I am getting concerned that with the market set to get better next year, we don’t want to be restricted to the £250k budget to be eligible for the bonus. I am also confident of being able to have joint savings of around £30,000 so could, pending no drops in household income, look to buy at say £300k with a 10% deposit.
Assuming I do max out my HTB, this would give me the full £3,000 government bonus. If I were to buy in mid 2026 but instead using a LISA and assuming I was able to pay in £16,000 using both what’s in my HTB and contributing more per month, would I be eligible for a £4,000 government bonus as I would be paying in four separate tax years (2023/24, 24/25, 25/26 and 26/27) or because I’d only be paying in £4,000 at the very start of the 26/27 would this mean I am not eligible for that years government bonus as I’d have to wait until the end?
I’ll also be buying with my partner who is going to be contributing to his savings from next month. If we were to both use different accounts (e.g. I used a LISA and he used at HTB), would be both be eligible to use our respective 25% bonuses towards the house deposit, or can only one of us use the bonus?
Thanks if anyone can help!
- All Categories
- 341.8K Banking & Borrowing
- 249.7K Reduce Debt & Boost Income
- 449.2K Spending & Discounts
- 234K Work, Benefits & Business
- 606.2K Mortgages, Homes & Bills
- 172.5K Life & Family
- 246.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.8K Discuss & Feedback
- 15.1K Coronavirus Support Boards