A Lifetime ISA is a relatively new type of savings ISA introduced by the Government in 2017. They allow you to make savings for later in life, but can also be used when buying your first home. By saving your money in a Lifetime ISA, the Government will give you an additional 25% bonus to your savings.
If you are planning on purchasing a property and have any queries about how to use your Lifetime ISA, please do not hesitate to contact us. Our conveyancing team are very familiar with the ISAs and would be more than happy to assist you.
For more information on Lifetime ISAs, the Government provide a guide which goes into more detail at the following link: https://www.gov.uk/lifetime-isa
What happens if there are disruption to banking services due to coronavirus?
If banks or mortgage lenders are unable to move funds around due to staffing shortages then this will disrupt your completion, however, be reassured that they will be doing everything they can to prevent this scenario.
Will a surveyor/valuer attend the house I want to purchase or are they not carrying out surveys currently due to coronavirus?
Each company will be following their own policies and procedures as well as the government guidelines, which may result in a slower service or more precautions being put in place, or indeed surveys being cancelled.
Will removal companies be happy to enter properties during the coronavirus measures?
As things stand, it will be down to the individual companies who will have their own policies in place so the best thing is to contact our remover and discuss their policy with them.
Will the search providers be able to carry out searches during the coronavirus measures?
The majority of the searches are automated through computer systems and will therefore not be affected, however, the local authority searches are done by visiting the council offices. Please therefore expect lengthy delays on the return of those searches as some council offices are not allowing visitors.