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Withdrawing LISA at Completion or Exchange? - 12 Month Penalty Query
chronos1213
Posts: 5 Forumite
Hi,
Just looking for some advice/clarification please.
My LISA is under 1 year old (15th feb 2025 will be a year since first contribution). I'm looking at purchasing a new build with shared ownership. I want to reserve as early as possible but also don't want to pay any penalties. Would the solicitor officially withdraw the funds between exchange and completion (This would be after 15th feb)? Or, will the LISA need to be 1 year old before the contract exchange (probably before 15th Feb)? I will only be using it for the mortgage deposit.
Thankyou!
Just looking for some advice/clarification please.
My LISA is under 1 year old (15th feb 2025 will be a year since first contribution). I'm looking at purchasing a new build with shared ownership. I want to reserve as early as possible but also don't want to pay any penalties. Would the solicitor officially withdraw the funds between exchange and completion (This would be after 15th feb)? Or, will the LISA need to be 1 year old before the contract exchange (probably before 15th Feb)? I will only be using it for the mortgage deposit.
Thankyou!
0
Comments
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NVM sorted now sorry FTB
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For the benefit of anyone reading this in future, are you able to tell us what the answer to your question was?
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