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  • FIRST POST
    • aadd
    • By aadd 8th Oct 17, 7:38 PM
    • 17Posts
    • 0Thanks
    aadd
    Transfer Old ISA To....
    • #1
    • 8th Oct 17, 7:38 PM
    Transfer Old ISA To.... 8th Oct 17 at 7:38 PM
    Ive got an old isa of 13k sitting at a stupidly low rate, is it worth transferring it to a another ISA, or pulling it out and putting it in premium bonds or something else, I dont need the money rite now but im saving for a mortgage so dont want it lock away for years. Any ideas?
    thanks
Page 1
    • chockydavid1983
    • By chockydavid1983 8th Oct 17, 9:49 PM
    • 483 Posts
    • 289 Thanks
    chockydavid1983
    • #2
    • 8th Oct 17, 9:49 PM
    • #2
    • 8th Oct 17, 9:49 PM
    Max out LISA/ HTB ISA and then best current accounts and regular savers
    • Alexland
    • By Alexland 8th Oct 17, 9:52 PM
    • 750 Posts
    • 471 Thanks
    Alexland
    • #3
    • 8th Oct 17, 9:52 PM
    • #3
    • 8th Oct 17, 9:52 PM
    Absoloutley follow the above advice and get a 25% government contribution for your first home.
    • aadd
    • By aadd 8th Oct 17, 10:05 PM
    • 17 Posts
    • 0 Thanks
    aadd
    • #4
    • 8th Oct 17, 10:05 PM
    • #4
    • 8th Oct 17, 10:05 PM
    Thanks
    Can you transfer old cash isa into a LISA at all?
    • xylophone
    • By xylophone 8th Oct 17, 10:15 PM
    • 23,653 Posts
    • 13,781 Thanks
    xylophone
    • #5
    • 8th Oct 17, 10:15 PM
    • #5
    • 8th Oct 17, 10:15 PM
    https://www.moneysavingexpert.com/savings/lifetime-ISAs

    Quick question
    Can I transfer cash from other ISAs into my Lifetime ISA?
    Yes, if the provider allows it. Even then though, you can only transfer £4,000 from other ISAs into the LISA in any one tax year (excepting the 2017/18 tax year when there's a special exemption to allow you to transfer any savings in your Help to Buy ISA to the LISA too).

    As with any ISA transfer, anything you've moved from previous years' ISAs does not affect your current tax year's contribution.

    For instance, if you transferred £4,000 into a LISA from a previous year's ISA in the 2017/18 tax year, you'd still be able to deposit £20,000 into a cash ISA, stocks & shares ISA or an innovative finance ISA (or a split between two or three of these) within the same tax year, though you'd have used up your LISA allowance for that year
    .
    • aadd
    • By aadd 8th Oct 17, 10:39 PM
    • 17 Posts
    • 0 Thanks
    aadd
    • #6
    • 8th Oct 17, 10:39 PM
    • #6
    • 8th Oct 17, 10:39 PM
    Thanks so you can only transfer "help to buy ISAs" into LISA not normal cash ISAs? I would have to take 4000 from my normal ISA into my bank then into the newly opened LISA rite?

    thanks
    • Eco Miser
    • By Eco Miser 9th Oct 17, 12:22 PM
    • 3,224 Posts
    • 2,989 Thanks
    Eco Miser
    • #7
    • 9th Oct 17, 12:22 PM
    • #7
    • 9th Oct 17, 12:22 PM
    Thanks so you can only transfer "help to buy ISAs" into LISA not normal cash ISAs? I would have to take 4000 from my normal ISA into my bank then into the newly opened LISA rite?

    thanks
    Originally posted by aadd
    That is NOT what post 5 says.

    For this year only, a transfer from HTB (pre April 2017 subscriptions) to LISA can be additional to the £4000 LISA limit.
    Eco Miser
    Saving money for well over half a century
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