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My partner and I both have separate LISA accounts and are looking to purchase our first property. Would any of us need to pay withdrawal charges on our LISAs?

05 January 2022

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Question by Robbie

My partner and I both have separate LISA accounts and are looking to purchase our first property. Both of us are first time buyers and would apply for a joint mortgage. Would any of us need to pay withdrawal charges on our LISA in such a case?


Answered by Samantha Secomb

If your LISAs are at least 12 months old and you are buying your first home, which you are intending to live in, then you will not have to repay any of the government bonus, providing the house doesn’t cost more than £450,000 and you are raising a mortgage to complete the purchase.
I hope you find a nice place and enjoy being home owners.
Sam