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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Calling those with experience of using LISA for first home!!
ebaillie1993
Posts: 2 Newbie
I opened up my LISA on 30th August 2017, I've put a reserve on a new build this month and have stated that my LISA, where my deposit is, can not be used until earliest 30th August 2018. The developers are happy to wait as long as I can show I'm going through to right channels organising mortgage etc.
Once it gets to this stage and I can instruct solicitor to apply for release of funds, does anyone know how long it will actually take, I'm with Skipton and it says within 30 days on their website but obviously the sooner the better with expiry of help to buy and mortgage offer to potentially think about?
I do just wish there was exception to the rule and I could use the money early without incurring the charge but what can you do?!
Once it gets to this stage and I can instruct solicitor to apply for release of funds, does anyone know how long it will actually take, I'm with Skipton and it says within 30 days on their website but obviously the sooner the better with expiry of help to buy and mortgage offer to potentially think about?
I do just wish there was exception to the rule and I could use the money early without incurring the charge but what can you do?!
0
Comments
-
I don't know what you are aiming for here - if the provider says to plan for 30 days then that is the recommended approach. Sure some people might get the money released in less time but you cannot depend on it so shouldn't plan for it.
Alex.0 -
As Alexland says, but you can get prepared in advance to make the process speedier.
Find out your provider’s withdrawal process,
complete the declarations for the provider and conveyancer.
Send off the request for release of the LISA money with a note to say to release it after the 1 year anniversary.
Etc etc
This should help speed it along when it comes time to exchange / complete.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards