joint purchase using two ISAs

Tezzer1812

I have six children, all have ISAs. Can two siblings use each of their ISAs to purchase a property?

gravel_2

It's just money - why would there be a restriction on this?

masonic

What type of ISAs are they? It is only possible for an individual to use their own Individual Savings Account, so if 2 of the 6 buy a property together, then their 2 ISAs could be used towards the purchase. For a Lifetime ISA, they would need to qualify for the scheme rules to do this without penalty.

etienneg

I'm confused by this question, so I'm considering possible alternative ways of interpreting it. Apologies in advance if my hypothetical interpretation is wrong!

Your question asks: "Can two siblings use each of their ISAs to purchase a property?"

Are these cash ISAs, S&S ISAs, LISAs, or what? Subject to whatever terms are applicable, any of the children can withdraw some, or all, of the money from their own ISA, independently of what the others do. Then they can use that money as they want. So, if two of them want to buy a property together, that's fine. However, their money would no longer be in an ISA. In other words, they would have used the money withdrawn from their ISAs to purchase the property.

You see, I'm just wondering if you are asking if they could make the joint property the investment held within their ISAs (rather than shares/bonds/cash or whatever)? Maybe you could clarify, please?