We hate to bear the bad news but once you've owned a residential property, whether it's here in the UK or anywhere else in the world, you lose your first-time buyer status. You might want to check with a conveyancing solicitor who may be able to help answer questions about inheriting a property and its implications.

You could still continue to use a LISA to save for later life, or make what is known as an unauthorised withdrawal and pay the withdrawal charge that comes with it.

We have plenty of other savings and investment options for you! Why not check them out on our website.