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Surely giving up the 25% when cashing in the LISA is just returning the money the govt added to the funds you invested. It's not ideal but them's the rules, harsh as they may seem in your case.
You could look on the brighter side that your share in the foreign property must have some value, even if you can't realize it for a while.
I'm also a bit curious as to how such foreign ownership would be recorded in the UK. Is there a registry of such things? (note - I'm not suggesting you deliberately don't declare it).
Surely giving up the 25% when cashing in the LISA is just returning the money the govt added to the funds you invested.
No, it's not just reversing the bonus, as it also entails loss of 6.25% of the original contributions (ignoring growth), i.e. paying in £100 would be bumped up to £125 with the bonus, but the 25% deduction applied to the withdrawal would only leave £93.75 not £100.
I'm also a bit curious as to how such foreign ownership would be recorded in the UK. Is there a registry of such things? (note - I'm not suggesting you deliberately don't declare it).
There isn't any such global property registry but, as you say, that shouldn't encourage fraudulent declarations....
