H2B and LISA help

Lostthegame · 5 September 2017 at 7:59PM

I've got a regular cash Isa that I opened a few years ago with £15k, just sitting there, get rubbish interest now.
A few years ago a I opened a Help to Buy ISA that I've been putting money into each month.
I wanted to open a LISA this year but not sure what the best option is to go with?

Anyone got any advice of what to do?

Neil_Jones · 5 September 2017 at 9:05PM

Well there's only four options anyway - three stock and one cash:
http://www.moneysavingexpert.com/savings/lifetime-ISAs

Personally I'd keep the H2B ISA as it is, as it's probably paying more interest on what is now a sum of just under £5.5k (assuming max contributions and interest) than anything else you can get on the market today and wait and see what happens between now and the next tax year.

You can always close the old ISA to get better rates of interest, as the interest on those are pitiful and you can get better outside of an ISA. Current accounts for example, 5% on £2.5k at Nationwide, 3% on £3k at Tesco or even Santander's 123 account on £20k at 1.5% is better than most ISAs.

H2B and LISA help

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