Unlock Your First Home Using LISAs to Secure Your First Time Buyers Deposit

Are you dreaming of owning your first home? Look no further! In this power-packed video, Katie Donegan, Alan Donegan, and the Rebel Finance School spill the beans on how to use Lifetime Individual Savings Accounts (LISAs) to turn that dream into reality.
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All videos in the series: • Mastering LISAs: Your ...
1. Demystifying LISAs: What is a Lifetime Individual Savings Account?
2. LISAs Uncovered: The Pros and Cons of Lifetime Individual Savings Accounts
3. Choosing Wisely: How to Select the Best LISA Provider for Your Needs
4. Step-by-Step Guide: Opening a LISA with AJ Bell
5. Invest Smart: Choosing the Right Fund for Your LISA
6. The LISA Millionaire Dream: A Must-Watch for Every 16-20 Year Old
7. Unlock Your First Home: Using LISAs to Secure Your First-Time Buyer’s Deposit
8. Buying an ETF. What is a Fill or Kill Order?!
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[@christinab9133]

So interesting thank you! ❤❤❤

[@rebeldonegans]

Fascinating once you get into it!

[@doctorsaz]

My child is inheriting half a house from a great grandparent. Will never have “bought” a house. Will this exclude them from having a LISA for first purchase? Not 18 yet. If inherited property is sold before turns 18, will that still exclude them???? So hard to find the answers

[@rebeldonegans]

I don’t actually know the answer to this one! It is very difficult to find the answers sometimes!

[@rebeldonegans]

These are the rules directly from the.gov site. The way I read the rules you would be able to do it but I am quite optimistic.
If I were you, I would call the HMRC helpline and ask them!
Buying your first home
You can use your savings to help you buy your first home if all the following apply:
the property costs £450,000 or less
you buy the property at least 12 months after you make your first payment into the Lifetime ISA
you use a conveyancer or solicitor to act for you in the purchase - the ISA provider will pay the funds directly to them
you’re buying with a mortgage

[@doctorsaz]

@@rebeldonegans Thank you. Very kind. I think it depends on whether they view ownership and purchasing a property as interchangeable…… Clearly, from a linguistic perspective, they are not however, I suspect that government will not take that view. Good call to ask HMRC. Wasn’t sure whom to ask