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    • Home • Advice • Common questions

    Can I use my LISA with someone else but the total house price is over £450k?

    01 November 2019

    Question by Andrew

    Can I use my lifetime ISA as a first time buyer with someone else but the total house price is over £450000? My share would be less than £450000.

    Answered by James Greenly

    Hi Andrew

    My understanding is that the total property price cannot exceed £450k, regardless of how it is purchased, i.e. in a single name or jointly. If you buy as joint tenants you will both have equal rights to the whole property. If you buy the house as tenants in common you could have different ownership splits, i.e. you could own 30% and your partner 70%. That said, I still do not believe this makes a difference under the LISA rules.

    Your best bet would be to ask your LISA provider, as they will have the small print. Alternatively, ask a conveyancer but they would most likely charge you for a response!

    I hope that helps.

    Best

    James

    Answered by

    James Greenly

    Chartered Financial Planner

    I am a Chartered Financial Planner at Capital Asset Management, a boutique financial planning and wealth management firm based in the City of London.

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