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    • patrickbateman
    • By patrickbateman 13th Feb 18, 8:43 PM
    • 83Posts
    • 45Thanks
    LISA /HTB query
    • #1
    • 13th Feb 18, 8:43 PM
    LISA /HTB query 13th Feb 18 at 8:43 PM

    Cut a long story short, both the missus and I have transferred our htb isa into a Lisa. I opened my isa in November and she opened hers at the end of January.
    We have just now been told our tenancy is coming to an end, and are likely to need to buy sooner than expected.
    I wondered if We have any options, whereby we can still use the bonus if we buy within a year of opening the Lisa.
    I.e. Can we use a bonus on our closed HTB Isa.

    The bonus is worth about £4k to us combined, and this is a large sum of money to us when buying.

    Any assistance greatly appreciated.
Page 1
    • eskbanker
    • By eskbanker 13th Feb 18, 11:58 PM
    • 6,286 Posts
    • 6,355 Thanks
    • #2
    • 13th Feb 18, 11:58 PM
    • #2
    • 13th Feb 18, 11:58 PM
    Sorry, no, there's no way of retaining the bonus and using the money within the first year of having a LISA. It'll cost you more to withdraw after you've had your LISA bonus though, so you might wish to consider cashing in before the end of the tax year....
    • Alexland
    • By Alexland 14th Feb 18, 6:51 AM
    • 1,640 Posts
    • 1,120 Thanks
    • #3
    • 14th Feb 18, 6:51 AM
    • #3
    • 14th Feb 18, 6:51 AM
    As part of the HTB transfer did you get a closure statement? This may not have been provided on a LISA transfer but it might be worth asking you old provider for it now. If they will provide one this can be used for 12 months from the closure date to claim the bonus on the HTB closing balance. Let us know how you get on with this request please.

    As eskbanker's says you might want to withdraw your LISA money before 6th April if it looks more certain that you will be buying within 12 months of the initial LISA contribution as the penalty applies next tax year.

    See how the situation pans out over the next month.

    Last edited by Alexland; 14-02-2018 at 6:54 AM.
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