Lifetime ISA

How long does a LISA house purchase withdrawal take if I have payments in progress?

Once you submit your solicitor’s details to us in Settings > Withdraw > LISA > Buying first home, we’ll automatically freeze further deposits into your LISA.

We’d recommend sending your solicitor’s details about one month before you need to use your LISA funds towards a qualifying property purchase. This is so we can liaise with your solicitor to confirm your details. Once we have everything we need, we’ll initiate your withdrawal within 5 working days.

The withdrawal itself is then typically completed on the next available working day for Cash LISAs (i.e. within 6 working days of receiving the required information from your solicitor), or within 10 working days for a Stocks & Shares LISA (i.e. within 15 working days of receiving the required information from your solicitor). However, please note that if your withdrawal includes any pending payments or government bonuses, these timeframes will be longer:

For a Cash LISA

  • Up to 11 working days for a withdrawal which includes an in-progress weekly collection
  • Up to 6 working days for a withdrawal which includes an in-progress easy bank transfer
  • 1 working day to withdraw a pending government bonus, once this has been paid out by HMRC

For a Stocks & Shares LISA

  • Up to 20 working days for a withdrawal which includes an in-progress weekly collection
  • Up to 20 working days for a withdrawal which includes an in-progress easy bank transfer
  • 1 working day to withdraw a pending government bonus, once this has been paid out by HMRC

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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.

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