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  • 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 itís 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
    • 363 Posts
    • 797 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
    • 53 Posts
    • 12 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
    • 2,388 Posts
    • 1,789 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
    • 2,336 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.
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