Can I use my LISA if my partner puts my name down on the mortgage?

17 October 2022

Question by Richard

My partner owns a house (mortgaged) and I don't. I have never previously had a mortgage and have money saved in a Lifetime ISA. My question is, can I use the money in my LISA if my partner puts my name down on the mortgage so we then own the house jointly when she comes to re-mortgage?


Answered by Chris Broome

Hi Richard,

The Lifetime ISA (LISA) rules allow the full value of the LISA to be used towards the purchase price of your first residential property in the UK.

This includes when the purchase is being made as a joint owner with another person who may already own the property.

So, yes, as long as you are a first-time buyer, you can buy a share of your partner's home.

Your conveyancer must give the LISA manager (the bank or building society it is with) all the details before the withdrawal is made.

I hope that all helps. Good luck and all the best for your future.

Kind regards

Chris Broome

Answered by

Chris Broome

Chartered Financial Planner

My name is Chris Broome and I own a wonderful fixed-fee and independent financial planning practice called Longhurst.