February 21st, 2020 / Insight posted in MKS News

Investors Chronicle: Guy Sterling answers reader’s question on first-time buyer category, LISA and property inheritance

A reader wanted to know if their child would still qualify for first-time buyer categorisation after inheriting part of a grandparent’s property. Buying a first home is a qualifying purpose if the property is a “first-time residential purchase”, ie there has been no previous residential property ownership anywhere in the world. Guy Sterling discusses HMRC’s guidance, explores additional LISA conditions and recommends seeking legal advice.

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