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What types of properties can you buy using a Lifetime ISA?
What types of properties can you buy using a Lifetime ISA?
Anya Gair avatar
Written by Anya Gair
Updated over 2 weeks ago

To purchase a property with a Lifetime ISA, the property you buy must:

  • Be your first home anywhere (not just in the UK)

  • Cost £450,000 or less

  • Be purchased 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

  • Bought with a mortgage (i.e. you cannot buy the property outright)

  • Be intended as your primary residence (i.e. you cannot use a Lifetime ISA to purchase a property to rent out to others)

If you are unsure if a property (or piece of land) meets the Lifetime ISA requirements, the best thing to do is to check with a conveyancer.

You cannot use your savings to buy a home if you’re getting a private mortgage from:

  • your relative (a parent, grandparent, child, grandchild or sibling)

  • someone who is married or in a civil partnership with your relative

  • your spouse or civil partner

  • a relative of your spouse or civil partner

  • someone who is married or in a civil partnership with a relative of your spouse or civil partner

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