What is the process for withdrawing funds from a Lifetime ISA for a solicitor?
In order to begin the withdrawal process, we’ll first need our mutual customer to reach out to our Support Team either via the in-app chat, or by emailing email@example.com.
This allows them to give us permission to act on their behalf, confirm they meet the eligibility criteria set by HMRC, and provide your contact details. We’ll then contact you directly with a blank conveyancer declaration, which we’ll need you to fill in and return to us.
Once we’ve received your form, we’ll process the withdrawal as soon as we can, and typically you’ll receive the funds within 3 working days for our Cash LISA, or 10 working days for our Stocks & Shares LISA. Once the withdrawal has completed, we’ll send the funds via Faster Payments; typically by the end of the working day.
Please note, HMRC put the onus on the conveyancer to ensure that the property purchase completes within 90 days of the withdrawal, and you’ll need to notify us once the property sale has completed – which can be done by email.