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Hi all,
I was wondering if you can help me get to the bottom of something. I want to use LISA and cash ISA to buy my first flat as many people under 30. However, I have read the description which says that I should not own a property outside the UK. I am a British citizen born outside the UK where my parents still live. They divorced when I was young and passed our small family flat to my sister and me on the condition my mum can live there (it is in the contract/divorce settlement). She still lives in the flat and I haven't lived with her for over 10 years now.
Does it mean I don't qualify as a first time buyer but I can still use ISA cash accounts for flat buyers? Is there any other help I can use? Any advice would be much appreciated.
Originally posted by White_Tara
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You won't qualify for the LISA bonus for FTB because you already own a property elsewhere in the world. You won't qualify for the FTB SDLT relief either. You can use your savings in your cash ISA as a deposit though.
https://www.helptobuy.gov.uk/documents/2015/12/eligibility-of-ftbs.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/661728/8274_guidance_note_SDLT_relief_for_first_time_buye rs.pdf