{"id":140072,"date":"2023-10-30T14:00:07","date_gmt":"2023-10-30T07:00:07","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-my-lifetime-isa-to-buy-a-house-to-rent-out-or-wait-until-i-leave-the-forces\/"},"modified":"2023-10-30T14:23:25","modified_gmt":"2023-10-30T07:23:25","slug":"should-i-use-my-lifetime-isa-to-buy-a-house-to-rent-out-or-wait-until-i-leave-the-forces","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-my-lifetime-isa-to-buy-a-house-to-rent-out-or-wait-until-i-leave-the-forces\/","title":{"rendered":"Should I use my lifetime Isa to buy a house to rent out or wait until I leave the forces?"},"content":{"rendered":"


\nOnce I have left I intend to make a purchase with my girlfriend but need advice as a first-time buyerQ I am currently planning on using my first-time buyer lifetime Isa to buy a house to rent out. I am in the forces and so I am able to get a consent to let as I won\u2019t be able to live there. The property is \u00a3120,000 with a rent of about \u00a3800 a month. I have been offered a mortgage of \u00a3489 a month for five years fixed. I don\u2019t intend on moving into the house and I am using it as an investment. I then intend to buy a house with my girlfriend later on down the line and keep the first property as a rental. However, I am also considering just waiting until I leave the forces and buying a house with my girlfriend as a first-time buyer and saving all the perks as a first-time buyer. I\u2019m not sure what to do; do you have any advice? EJA Yes. Forget using your lifetime Isa to buy a property that you will use as an investment because it is not allowed. You are right in thinking that, because you are unable to live in a property when you first buy it because you are in the forces (or other type of crown servant), you are allowed to rent it out. But you are eligible to get the benefits of your lifetime Isa when buying property only if you intend to use the property as your main residence at some point \u2013 when you return from serving overseas, for example. In the words of the government guidance: \u201cWhen you first purchase the property, you will be able to rent it out until you are able to move in.\u201d Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should I use my lifetime Isa to buy a house to rent out or wait until I leave the forces?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Once I have left I intend to make a purchase with my girlfriend but need...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-140072","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-Are","jetpack-related-posts":[{"id":120826,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-my-partner-and-i-buy-two-properties-using-lifetime-isas\/","url_meta":{"origin":140072,"position":0},"title":"Can my partner and I buy two properties using lifetime Isas?","date":"July 5, 2021","format":false,"excerpt":"\r We want to buy a house in my partner\u2019s name and later rent it out and buy another one in mineQ My partner and I are first-time buyers and we each have a lifetime Isa (Lisa). 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