Holly Mckay
Holly MackayFounder and CEO
Avatar

Subscribe Now

Free of Charge

Avatar
    • Home • Advice • Common questions

    What can I use my LISA for?

    11 March 2021

    Question by Becky

    My understanding is you cannot use your LISA on a house you will not live in i.e. a house you seek to rent. If this is correct and this is the first type of house you buy, can the LISA then be used on the first house you purchase for yourself?

    Answered by Boring Money

    Hi Becky, unfortunately it is.

    If you've owned property before you can't use a LISA towards another home purchase. This includes owning a property (or a share of one) that you inherited, even if it was sold straightaway and you didn't live there.

    Hope this helps.

    Answered by

    Boring Money

    Here to help you understand your options and make smart money choices.

    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    |

    We use cookies

    You will see cookie information on different websites and regulation means that we need to ask your permission to use them. We use cookies to improve our website, for analysis of our visitor data, to show personalised content and to give you a great website experience. For more information about the cookies we use open the settings.