How do I withdraw money from my Lifetime ISA to buy a first home?

In order to use a lifetime ISA to buy your first home, you’ll have to go through a conveyancing solicitor.

If you withdraw the money from the account yourself, and you’ve not yet turned 60, you’ll pay the government penalty fee.

Here’s a quick breakdown of how to use your lifetime ISA to buy your first home.

1. Have an offer on a property accepted.
2. Hire a conveyancing solicitor and let them know you plan to use a lifetime ISA for your mortgage deposit.
3. Fill out an Investor Declaration Form and send this to your solicitor.
4. Send your solicitor a Conveyancer Declaration Form for them to complete (they may already have this).
5. Your lifetime ISA funds will then be sent to your solicitor.

To learn more about the process of withdrawing from your lifetime ISA to buy a first home, take a look at our guide.