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LISA and Buy to Let

Uffy2001
Posts: 4 Newbie

Hello fellow MSE members!
So ive done a bit of googling and i haven't found any real answers to this question.
I have a LISA and im building it up to get a strong deposit for my first home but recently I've also starting to look at getting a mortgage for a Buy to Let property to get into the rental market.
My question is, if i get a buy to let mortgage and property with my cash will it effect my LISA (im not going to use my LISA or any cash thats in it). My understanding is it should not as this would be a property used for rental and not as my first home.
Does anyone know the answer to this or has done it?
Thanks!
So ive done a bit of googling and i haven't found any real answers to this question.
I have a LISA and im building it up to get a strong deposit for my first home but recently I've also starting to look at getting a mortgage for a Buy to Let property to get into the rental market.
My question is, if i get a buy to let mortgage and property with my cash will it effect my LISA (im not going to use my LISA or any cash thats in it). My understanding is it should not as this would be a property used for rental and not as my first home.
Does anyone know the answer to this or has done it?
Thanks!
0
Comments
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If you buy a BTL property then you're no longer a first time buyer so wouldn't be eligible to use your LISA for any subsequent property purchases....4
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Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.0
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You will not be a first time buyer if you’ve bought a property.I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.2
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Uffy2001 said:Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.2
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eskbanker said:Uffy2001 said:Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.0
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Uffy2001 said:eskbanker said:Uffy2001 said:Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.5
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Uffy2001 said:Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.
https://forums.moneysavingexpert.com/discussion/6594660/lisa-and-owning-a-house-abroadRemember the saying: if it looks too good to be true it almost certainly is.1 -
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Uffy2001 said:Really? i thought the wording on this was specific to first time buying a first residential home (a property you plan to live in) not first time buying a property.0
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