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LISA for a “fixer upper”
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DANCINGACCOUNTANT
Posts: 2 Newbie
Hi all.
I’m a first time buyer and had my LISA for a number of years. I’m intending to purchase a house that is fairly run down/dilapidated that I want to fix up. I intend to use my LISA to use as a deposit on a mortgage. If the mortgage I could get is higher than the value of the house, am I able to use some of the surplus mortgage for construction costs to bring the house up to standard?
I’m not sure on the whole mortgage process.
I’m a first time buyer and had my LISA for a number of years. I’m intending to purchase a house that is fairly run down/dilapidated that I want to fix up. I intend to use my LISA to use as a deposit on a mortgage. If the mortgage I could get is higher than the value of the house, am I able to use some of the surplus mortgage for construction costs to bring the house up to standard?
I’m not sure on the whole mortgage process.
Thanks in advance for any help!
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Comments
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That's probably a question more for the mortgage board than the ISA one:
https://forums.moneysavingexpert.com/categories/mortgages-endowments
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