I would like to port my mortgage to avoid any early repayment charges, however in that scenario can my girlfriend still use her LISA?

30 January 2023

Question by Charles

I am a sole property owner at present, with a mortgage. I am looking to move house with my girlfriend, she is a first time buyer (never owned property before). I would ideally like to port my mortgage to avoid any early repayment charges, however in that scenario can my girlfriend still use her Lifetime ISA? The value of the property we would like to buy, will be higher than the property I own, so we will be taking on more debt.


Answered by Chris Broome

Hi Charles,

An excellent question to ask.

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 a property.

So, yes, as long as she is a first-time buyer, and your existing lender agree to the new purchase, you should be able to proceed with the move.

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.