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LISA conditions
BELLA102
Posts: 2
Newbie
Hi, My daughter has just started saving in to LISA. I intend to leave my home to her and my done which will be mortgage free. Can the LISA be used to raise half the value as a mortgage to pay off my son? Thanks
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Comments
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Short answer: no, generally you can’t use someone else’s Lifetime ISA (LISA) to raise a mortgage in the way you’re describing, because of how the LISA rules work.
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If she inherits a share in the home, then she would no longer be eligible to use her LISA for a property purchase without paying the withdrawal penalty.0
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Unless your planning on dying anytime soon she'll probably have bought a house by then."You've been reading SOS when it's just your clock reading 5:05 "0
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