LISA0082

Written evidence submitted by Anonymous

Both my sons bought flats for the first time in 2024 and both used LISAs.

These were very helpful for them in terms of saving the money and having this topped up by the government. However, in both cases, and using different solicitors, the process for withdrawing the funds did not seem widely understood and one son was advised to draw down his own funds. This would have resulted in a loss of the government top up funds. There is a clear process which needs following, but solicitors and conveyancers need further education on this in my opinion. Any errors at this stage can prove very costly.

January 2025