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  • FIRST POST
    • Saver123456789
    • By Saver123456789 12th Jun 17, 3:31 PM
    • 2Posts
    • 0Thanks
    Saver123456789
    Halifax Help to Buy ISA
    • #1
    • 12th Jun 17, 3:31 PM
    Halifax Help to Buy ISA 12th Jun 17 at 3:31 PM
    Hi,

    I have a Halifax Help To Buy ISA which I opened in December 2015 and I am planning to transfer this to the new Skipton LISA. Has anyone else done this and were there any penalties with Halifax or loss of interest for doing so?

    Many thanks for your help,
Page 1
    • Ed-1
    • By Ed-1 12th Jun 17, 3:39 PM
    • 1,979 Posts
    • 1,057 Thanks
    Ed-1
    • #2
    • 12th Jun 17, 3:39 PM
    • #2
    • 12th Jun 17, 3:39 PM
    Hi,

    I have a Halifax Help To Buy ISA which I opened in December 2015 and I am planning to transfer this to the new Skipton LISA. Has anyone else done this and were there any penalties with Halifax or loss of interest for doing so?

    Many thanks for your help,
    Originally posted by Saver123456789
    No there's no penalties from Halifax as you would know if you read the terms of the account! The only penalty by transferring the whole Help to Buy ISA across to a LISA would be losing the 3.5% interest rate on the Halifax account.

    So my recommendation would be to open a Skipton LISA with £1 now and wait until March 2018 to transfer to Skipton. If you have enough to easily fill the LISA allowance each year you could leave anything you put into the Help to Buy ISA since 6th April 2017 in the Help to Buy ISA and just transfer anything from before 6th April 2017 to a LISA. On top of that you can then put a further £3,999 in the LISA this year and then a further £4,000 in a LISA from 6th April 2018, while continuing to use the Help to Buy ISA as a regular savings account getting 3.5%.
    • Hutchch0920
    • By Hutchch0920 12th Jun 17, 3:40 PM
    • 276 Posts
    • 467 Thanks
    Hutchch0920
    • #3
    • 12th Jun 17, 3:40 PM
    • #3
    • 12th Jun 17, 3:40 PM
    I am not aware on any exit fees however MSE Martin advises not to transfer until March 2018 if you have a better interest rate with your current provider as Skipton's is only 0.5%.
    Save £12k in 2017 / Dec 2017 Travel Cash = £7,772 / £14,000 55.5%[/COLOR]

    House Deposit = £19,000 / £18,000
    • neurosurgeon
    • By neurosurgeon 12th Jun 17, 10:38 PM
    • 11 Posts
    • 0 Thanks
    neurosurgeon
    • #4
    • 12th Jun 17, 10:38 PM
    • #4
    • 12th Jun 17, 10:38 PM
    Yep am doing this!
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