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

You can use your AJ Bell Youinvest Lifetime ISA, including the government bonus, to buy your first home. There are some conditions though.

You’ll need to:

  • Be a first-time buyer (i.e. you’ve never owned a home anywhere in the UK or the rest of the world – this includes any home you’ve inherited, or owned with someone else)
  • Have been saving into your Lifetime ISA for at least 12 months

The property must be:

  • In the UK
  • Purchased for £450,000 or less (even if you’re buying with someone else)
  • Where you intend to live (not a buy-to-let)
  • Purchased with a mortgage

To buy your first home with your Lifetime ISA, you’ll need to contact your solicitor/conveyancer directly, who’ll ask you to complete a declaration. They’ll then complete their own declaration, and send it to us.

If the declaration we receive is valid, your Lifetime ISA money will be sent directly to your solicitor/conveyancer to fund your house purchase. You’ll need to allow at least 10 working days for this money to transfer. Keep in mind you can't use this money for additional costs, such as solicitor fees or furniture and fittings.

You'll also need to make sure you have the cash available in your Lifetime ISA when your solicitor/conveyancer sends us the request.

More information:

Can I use both a Help to Buy ISA and a Lifetime ISA to buy my first home?

How soon after receiving the cash from my Lifetime ISA do I need to buy my first home?

Who qualifies as a first-time buyer?

Can I use a Lifetime ISA to buy a buy-to-let property?

Can I use my Lifetime ISA if I am buying my first home with someone else?

Can I use my Lifetime ISA both for buying my first home and for retirement?