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