Withdrawing deposit and LISA account

[user327253]

I am a first time buyer and saving my deposit in a LISA notice account. The notice on withdrawals is a lengthy 3 months. How does this work with the buying process? Because once the money is withdrawn, it can't just be put aside or the government bonus will be lost, so does this mean waiting for everything to be ready and then a further 3 months on top? I can't get my head around it. Would it be better to transfer the LISA account to one with a shorter notice in advance? I don't know if I'd lose the bonus money I already have obtained by doing that.

I can't offer advice on the LISA I'm afraid, but the buying process can often take about 3 months anyway with all the to-ing and fro-ing with solicitors, so I don't see this as much of an issue - others may come along and disagree/be able to offer better advice!

We're in the process of using LISAs to buy our first house. Ours says they will pay the conveyancer within 30 days of receiving all the paperwork. 3 months seems quite a long time for them to take to send the money out? But I suppose actually in the house buying process, it's not really that long. The conveyancer can then hold the money for 3 months, but if the house sale hasn't gone through by then, it has to be put back.

DO NOT withdraw the money yourself. You will lose all your bonuses. It must be done by your solicitor. They can withdraw it any point in the house purchase. If you are unsure, talk to your solicitor

Do you have a moneybox account? I overlooked this when I opened my account, I'm considering transferring the sums to a different LISA provider, one who can process the money more quickly, once I have enough funds to buy but again I'm also not sure if that is the best way.

Yes, it is with Moneybox. Thanks for all the advice so far. It's further complicated now 95% LTV mortgages have been withdrawn, because of that we may go for a New Build with Help to Buy and my understanding is, if there are unexpected delays with the build, which is apparently common, you can't exchange until it's ready so there will be even more time constraints. I'm just waiting to hear the price on a local new build plot anyway, if it's too high that we can't raise the 5% deposit before it's built then we will have to add another year on to save for 10-20% now needed for a regular mortgage. . I'm too impatient.