Can I use my lifetime ISA to buy my first house even if I've been named on a mortgage?

19 April 2022

Question by Jack


My mum has recently remortgaged and I’ve been named on this mortgage alongside her, but I do not make any contribution towards the mortgage payments. I have a lifetime ISA open which I was hoping to use to buy my first house, but since I’ve been named on a mortgage I’m unsure if I’m now able to use my lifetime ISA in this way. Please could you advise?

Answered by Boring Money

Hi Jack,

Being named on the mortgage should not prevent you from using your Lifetime ISA to purchase your first property.

However, you should check if you are named on the Title Deeds to your mum's home.

If you are, then this means you own the property jointly and therefore will not be a first time buyer.

If you are not a first time buyer then you cannot use the Lifetime ISA for your purchase.

I hope this helps!


Answered by

Boring Money