Can I use a Lifetime ISA if I am a first time buyer, but I will be getting a joint mortgage with someone who is not a first time buyer?
Good question, and one that often causes confusion with the Lifetime ISAs.
The simple answer is yes.
You can save into a Lifetime ISA and use your LISA savings towards the deposit for the purchase, as you meet the eligibility criteria as a first time buyer.
Your partner would not be able to use the LISA as a savings vehicle for their share of the deposit, but that doesn’t impact on your plans to buy together, or your ability to take advantage of the 25% government bonus offered by a LISA, for your share of the deposit savings.
I hope this makes sense.
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