Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Smartypants82
    • By Smartypants82 14th Mar 18, 3:09 PM
    • 1Posts
    • 0Thanks
    Smartypants82
    LISA if I owned a house over 10yrs ago
    • #1
    • 14th Mar 18, 3:09 PM
    LISA if I owned a house over 10yrs ago 14th Mar 18 at 3:09 PM
    Myself and my partner owned a property in the past but sold it 12 years ago. We have rented since and are trying to get back onto the property ladder. Would we be considered as first time buyers again since it’s been so long since we owned a property? And could we therefore be able to open a LISA for the purposes of saving for a deposit ?

    TIA
Page 1
    • pramsay13
    • By pramsay13 14th Mar 18, 4:44 PM
    • 387 Posts
    • 843 Thanks
    pramsay13
    • #2
    • 14th Mar 18, 4:44 PM
    • #2
    • 14th Mar 18, 4:44 PM
    No as you are no longer a first time buyer.
    You can still open a LISA and use it to save money, but if you withdraw for a house purchase you will incur penalty of 25%.
    • sully1311
    • By sully1311 14th Mar 18, 10:00 PM
    • 58 Posts
    • 13 Thanks
    sully1311
    • #3
    • 14th Mar 18, 10:00 PM
    • #3
    • 14th Mar 18, 10:00 PM
    Not to be rude but you're not a first time buyer are you?
    • Alexland
    • By Alexland 14th Mar 18, 10:12 PM
    • 2,555 Posts
    • 1,936 Thanks
    Alexland
    • #4
    • 14th Mar 18, 10:12 PM
    • #4
    • 14th Mar 18, 10:12 PM
    Not to be rude but you're not a first time buyer are you?
    Originally posted by sully1311
    Be nice - people get easily confused as the mortgage lenders treat them as FTBers again but the government (for the purposes of the LISA or HTB bonus) do not.
    • movilogo
    • By movilogo 15th Mar 18, 2:08 PM
    • 2,337 Posts
    • 1,569 Thanks
    movilogo
    • #5
    • 15th Mar 18, 2:08 PM
    • #5
    • 15th Mar 18, 2:08 PM
    Anyone below 40 can open LISA. But unless you are FTB and withdrawing to purchase a house, you can only withdraw when you are at 60 without paying a penalty.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,820Posts Today

8,093Users online

Martin's Twitter
  • Nearly at the Cheshire Show. Doing an @itvMLshow there today and tomorrow. Do say hi if you're there or ask a question.

  • Good morning. I'm on the train to go to the Cheshire Show today to film for an @itvmlshow Roadshow. Looking forwa? https://t.co/T0uKOKyj4I

  • Early days, but so far a huge majority - 19 in 20 people - support legalising cannabis for medical use. Whereas t? https://t.co/a3gJipQITc

  • Follow Martin