6:51 doesn't make sense, so I have to buy the property at least 12 months after making my first payment into the isa, but the most you can save is £4k a year???? Please clarify...
She definitely said it wrong. You can contribute a max of 4k a year, you get 1k tax relief as well. You DON'T have to buy a house within 13 months of first payment.
Thanks for this good information. Pls, what else can we do as a first timer buyer because based on my age and my wife we are above 40 years already. Can you please suggest what we can do again towards getting our first mortgage. Kind regards. Paul
Hi if you saved in your liferime ISA for 3 years (36 months) will your bank/ mortgage provider have to go through 36 months of bank statements/ payslips and financial record checks before approving your mortgage application or will they go through 6 months?? Or 3 months??
Thank you for this video, well explained. I have one question, once one has used the money saved from a lifetime ISA to purchase their first home can the account still be used to save money for retirement or will it be closed? Thank you, just subscribed to your channel.
you're so great at explaining these things! thank you for the help!
6:51 doesn't make sense, so I have to buy the property at least 12 months after making my first payment into the isa, but the most you can save is £4k a year???? Please clarify...
She definitely said it wrong. You can contribute a max of 4k a year, you get 1k tax relief as well.
You DON'T have to buy a house within 13 months of first payment.
Such a helpful channel, thanks!
Thanks for this good information.
Pls, what else can we do as a first timer buyer because based on my age and my wife we are above 40 years already. Can you please suggest what we can do again towards getting our first mortgage.
Kind regards.
Paul
Hi if you saved in your liferime ISA for 3 years (36 months) will your bank/ mortgage provider have to go through 36 months of bank statements/ payslips and financial record checks before approving your mortgage application or will they go through 6 months??
Or 3 months??
Do they ever adjust home value to inflation ? And do they adjust contributions accordingly?
They haven’t adjusted home value to inflation yet, and it’s a big problem that’s been flagged by politicians. It’s making me hesitant to open one.
Thank you for this video, well explained. I have one question, once one has used the money saved from a lifetime ISA to purchase their first home can the account still be used to save money for retirement or will it be closed? Thank you, just subscribed to your channel.
I believe I have read somewhere that it will continue to exist, as well as any remaining funds.
Can’t it be used for a second home?
No - first time buyers