Help to Buy Lifetime ISA

How can a client qualify for a Help to Buy Lifetime ISA for a house purchase?

• Be over 18 years of age or under 40

• Be a first time buyer

• Must be obtaining a Mortgage and not a Buy to Let Mortgage

• Property price must be under £450,000

• The client must have had the account open for 12 months

Can a client claim both a HTB ISA and a HTB Lifetime ISA for their house purchase?

• No

• Yes

• Depends on the individual circumstances

How long can it take for Help to Buy Lifetime ISA funds to be received by the Conveyancer?

• 1 day

• 5 working days

• 10 working days

• Up to 30 days

Who could the client speak to for advice if they are unsure whether to claim the HTB Lifetime ISA or HTB ISA money for their first purchase?

• Conveyancer

• Estate Agent

• Financial Advisor

• Mortgage Lender

Once the HTB Lifetime ISA funds have been received by the Conveyancer, how long can funds be held for initially?

• 1 working day

• 5 working days

• 60 days

• 90 days

Within how many days of completion must we update the LISA manager to confirm completion has taken place?

• 10 working days

• 5 working days

• 1 working day

• 20 working days

How much is the maximum a client can pay in to their HTB Lifetime ISA in one year?

• £1000

• £4000

• £2000

• £3000

Can I use the bonus to pay for a second home in Spain?

• Yes

• No

What is the annual bonus amount a client receives on their HTB Lifetime ISA?

• 10%

• 5%

• 25%

• 1%