Using your Lifetime ISA - first time buyers
12 months after your first payment into your Lifetime ISA, you can use some or all of the money in it to help you buy your first home, up to the value of £450,000. If you're buying with someone else, you can both potentially use a Lifetime ISA if you’re both first time buyers.
To do this, you must instruct your conveyancer to use your Lifetime ISA to buy your first home at least 12 months after your first payment into it, however you can complete the forms in advance of 12 months so you're more prepared for your house move. If you’ve transferred a Lifetime ISA to us from another provider, the 12 month period starts from the date you first paid into your original Lifetime ISA.
Looking to use your Lifetime ISA to help buy your first home? Important information on accessing your funds here.
If you're a Skipton Lifetime ISA customer you can get £250 cashback back when you take out your first mortgage with us. Please remember any loan that we make will be secured against the property.