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Help to Buy to LISA Transfer

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uih039
uih039 Posts: 106 Forumite
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in House buying, renting & selling
If I transfer 6k Help to Buy ISA to a LISA which was opened in June 2017, what is the position if I complete my property purchase before the first anniversary of opening the LISA? Do I lose the bonus completely?

All other HTB and LISA rules are covered and it doesn’t matter exactly when I receive the bonus as I can cover the full deposit and other costs from other savings.

I have searched MSE and the web but can’t find the answer so any comments would be appreciated as I need to make a decision on the transfer before the Skipton transfer deadline which is 1 March.

Thanks.

Andrew.

Comments

  • ashe
    ashe Posts: 1,555 Forumite
    First Post Name Dropper Photogenic First Anniversary
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    From what I read you need to have it open for 1 year to be eligible for the bonus
  • WibblyGirly
    WibblyGirly Posts: 470 Forumite
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    I think you lose the bonus, interest and another small % of money if you break the terms on the account.
  • Lolly88
    Lolly88 Posts: 322 Forumite
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    You will not recieve the bonus and also lose some of the money you have deposited if you withdraw it due to the penalty for withdrawing before the 1 year anniversary, this is clearly stated in the terms and conditions. So if you are completing before June then stick to the ISA and use that bonus.
    Homeowner
    :j
  • uih039
    uih039 Posts: 106 Forumite
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    Lolly88 wrote: »
    You will not recieve the bonus and also lose some of the money you have deposited if you withdraw it due to the penalty for withdrawing before the 1 year anniversary, this is clearly stated in the terms and conditions. So if you are completing before June then stick to the ISA and use that bonus.

    Many thanks to all who replied. I think I will play safe and stick with the HTB.
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