We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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
0
Comments
-
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.
0 -
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
-
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.5K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards