Lifetime ISAs guide

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  • J2Khan
    J2Khan Posts: 2 Newbie
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    Hello

    I think ive read somewhere that one may opt for both a cash AND stocks and shares LISA

    Can anyone shed light on this please?

    Thanks
    JK
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    J2Khan wrote: »
    Hello

    I think ive read somewhere that one may opt for both a cash AND stocks and shares LISA

    Can anyone shed light on this please?

    Thanks
    JK
    Anyone can read post #751 above, which confirms that one may not do this (in terms of paying new money into both in the same tax year), although in subsequent posts it's clarified that if you transfer one into the other before the end of the tax year then it's unlikely to be an issue if this is just a temporary situation....
  • chudleyette
    chudleyette Posts: 66 Forumite
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    My partner is 37 and has never owned a home. He's just moved in with me (to the house I own with a mortgage) and I'm wondering whether if he gets a LISA he can use it for if we want to re-mortgage together?
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    This came up in another thread recently and the view was that a LISA wouldn't be applicable just for a simple straightforward remortgage, but only for a full property sale/purchase process (i.e. involving conveyancers/solicitors).
  • Owen1991
    Owen1991 Posts: 70 Forumite
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    I recently sent the paper work off to transfer my Barclays H2B into my new Skipton ISA.

    The money has been transferred today but it's left my Barclays H2B ISA overdrawn.

    what should I do? Or will this get corrected automatically?
    2021 - £11250 Saved || 2020 - £4750 Saved || 2019 - £4000 Saved || 2018 - £9000 Saved
  • eskbanker
    eskbanker Posts: 31,076 Forumite
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    Owen1991 wrote: »
    I recently sent the paper work off to transfer my Barclays H2B into my new Skipton ISA.

    The money has been transferred today but it's left my Barclays H2B ISA overdrawn.

    what should I do? Or will this get corrected automatically?
    I suspect the transfer will have included accrued closing interest that won't have been credited to the account yet, does the amount involved suggest that? If this is the case, then it should self-correct....
  • Owen1991
    Owen1991 Posts: 70 Forumite
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    eskbanker wrote: »
    I suspect the transfer will have included accrued closing interest that won't have been credited to the account yet, does the amount involved suggest that? If this is the case, then it should self-correct....

    Ye it does, I presumed that what it was anyway, mainly wanted to know if it would self correct
    2021 - £11250 Saved || 2020 - £4750 Saved || 2019 - £4000 Saved || 2018 - £9000 Saved
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Owen1991 wrote: »
    I recently sent the paper work off to transfer my Barclays H2B into my new Skipton ISA.

    The money has been transferred today but it's left my Barclays H2B ISA overdrawn.

    what should I do? Or will this get corrected automatically?

    Barclays being strange with closing interest. I had the same. It disappeared from my online banking the following day, but presume it will be corrected and the closing statement will be correct!

    Skipton H2B ISA Transfer from Barclays was completed today. Just waiting for Nutmeg now, which takes longer as it's S&S.

    Nutmeg dashboard shows a pending withdrawal of £0.00! I'm hoping they only transfer my LISA, which is what I've requested on the form and via PM - as I have an ordinary savings account open for £170 cashback. If they transfer that I'll lose the cashback :mad:
  • System
    System Posts: 178,094 Community Admin
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    Somerset_La_La_La wrote: »
    Barclays being strange with closing interest. I had the same. It disappeared from my online banking the following day, but presume it will be corrected and the closing statement will be correct!

    Skipton H2B ISA Transfer from Barclays was completed today. Just waiting for Nutmeg now, which takes longer as it's S&S.

    Nutmeg dashboard shows a pending withdrawal of £0.00! I'm hoping they only transfer my LISA, which is what I've requested on the form and via PM - as I have an ordinary savings account open for £170 cashback. If they transfer that I'll lose the cashback :mad:


    £170 cashback?! Is that a current/savings account incentive?! Not seen that one on MSE ... :/ and I keep a close eye on things !
  • Owen1991
    Owen1991 Posts: 70 Forumite
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    All sorted, H2B ISA fully closed today, didn't need to do anything about going overdrawn from interest.
    2021 - £11250 Saved || 2020 - £4750 Saved || 2019 - £4000 Saved || 2018 - £9000 Saved
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