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What can I use my LISA for?

11 March 2021

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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 Carrie Garrett

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

Carrie Garrett

Financial Adviser

I'm a busy mum working in an IFA practice where every day is different. I enjoy being able to make a tangible difference in my clients financial future through effective use of cash flow forecasting.