Lifetime ISA

All topics Lifetime ISA How can I use my Lifetime ISA to buy my first home?

How can I use my Lifetime ISA to buy my first home?

You can use the amount saved in your Lifetime ISA towards your first home if:

The property costs £450,000 or less.

You buy the property at least 12 months after you open a Lifetime ISA. Your LISA is considered open from the date of your first contribution to the account.

You use a conveyancer or solicitor to act for you in the purchase. Moneybox will pay the funds directly to the conveyancer or solicitor.

You’re buying with a mortgage (buy-to-let mortgages are not permitted).

You have never owned a property before. This includes properties in the UK or in any other country. If you owned a property, or a share of one, through inheritance, this counts as owning a property.

Please note we’re unable to confirm the property’s eligibility based on your individual circumstances. If you’re unsure if your house purchase qualifies for a penalty-free LISA withdrawal, we’d recommend speaking with an appropriately qualified conveyancer. You can also visit the GOV.UK website for more information.

Once you’re ready to buy, just head to Settings > Withdraw > LISA at least a month before you expect to complete, and provide us with your solicitor’s details to get the process started!

Free, expert mortgage support

We help you buy your first home from the first step to the doorstep, while our trusted partner First Mortgage searches over 12,000 mortgage deals to secure the right one for you. 

Provided by First Mortgage Ltd.

Your home may be repossessed if you do not keep up with your mortgage repayments.

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It's important you know

Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.

For Business Saver: T&Cs apply. Max one withdrawal per day.

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