If your property purchase falls through or is cancelled after we've sent your Lifetime ISA withdrawal to your solicitor, they can return the money to your LISA.
For this, please ask your solicitor to contact our Lifetime ISA team by emailing lifetimeisa@moneyboxapp.com, and they will confirm the next steps. Once the money has been returned, you'll see this reflected in your account balance.
If your property purchase falls through, the full withdrawal amount must be returned to the LISA. The withdrawal is not subject to the 25% penalty, and your solicitor will be able to request another withdrawal, also penalty free.
HMRC rules state that you have up to 90 days to complete the property sale from the date we send your LISA withdrawal to your solicitor; however, if your purchase is due to take longer, this can be extended by up to a further 90 days. If an extension is required, your solicitor should also request this by email.