Lifetime ISA for a self build

Hi, struggling to find answers anywhere else on this. Whilst I know the LISA can be used toward a self build I am however having another issue. Skipton have told me I need to have the build completed 3-6months from the date I receive the money. I can see why this makes sense if you are purchasing a home. In a self build scenario the average build takes 18months, this would mean waiting until 1yr into the build before requesting the money. This leads to cashflow difficulties as it would be needed sooner rather than later. Skipton have been fairly unhelpful citing it's a HMRC scheme and their rules. Yet they couldn't link me to where these rules are written. Giving it's a scheme supposed to help people it seems very rigid and inflexible to the nature of a self build and those who are using it for that purpose. Any other self builders out there encountered the same problem or have any solutions? I'm 6 months into the build, with another 12months at least to go, and I've my money sitting locked up in a scheme created by the government to "help"! Thanks

Hi Grey88,
You can only claim your bonus funds when you are buying a home – and the money has to go towards the completion of your property, so you can’t use it to pay your solicitor’s, estate agent’s fees or any other costs associated with buying a home.
As such it cannot be used to fund the build.
Thank you.

Hi HMRC Admin 20 I confirmed with Skipton Building Society that it definitely can be used for a self build before setting it all up. This is further backed up by Martin Lewis who says it can be used for a self build, as well as other sources. This has been marketed as something self builders can use to help build there home. Do you work for HMRC? If so I think this highlights what I am up against. Lack of knowledge as to the application of their own schemes, let alone any guidance notes on how to navigate getting access to my own funds!

[External link removed - Admin]

Hi Grey88,
Guidance is available here:
Lifetime ISA
Thank you. 

 

I know how to use Google. That doesn't answer anything. Is there a manager or someone, anyone who knows more than how to do an internet search and post generic replies. Doesn't HMRC have a contact for the people who actually created this scheme?

Hi Grey88

You may wish to call the paye as you earn helpline on 0300 200 3300 or you may prefer to seek the advice of a financial adviser.

Thank you

Hi. Just wondering did you get any clarity on this? I also have a Skipton LISA and have confirmation in writing it can be released for a self build, however we are yet to contact them to do so (starting build in next 3 months). I was also never told about this timeframe ?! Thanks

[Dispaly name amended]

Hi gboyle1,
Please see guidance at Lifetime ISA.
Thank you.

GBoyle1 - Nope none the wiser. This lot here are like communicating with a robot, unwillinging to go beyond to help. I was also not aware of the timeframe. Have you had any luck?