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    • BA777
    • By BA777 9th Mar 18, 10:55 AM
    • 1Posts
    • 0Thanks
    Making the most of LISA
    • #1
    • 9th Mar 18, 10:55 AM
    Making the most of LISA 9th Mar 18 at 10:55 AM

    I started a LISA at the beginning of this 17-18 tax year with HL and have left it at £100 balance. I have since been contributing the maximum each month to my Help to Buy ISA which is now worth £3,500. My plan was to transfer the HL to the Skipton Cash version and then transfer in the Help to Buy but I've unfortunately missed the deadline.

    With that in mind, and an estimate of buying a house early next year, how should I move my money to make the most of it? I have £3,900 in another savings account available for use - should I put this into the HL LISA?

    Thanks for your help with my question and any ideas/suggestions are appreciated!
Page 1
    • eskbanker
    • By eskbanker 9th Mar 18, 1:58 PM
    • 6,494 Posts
    • 6,625 Thanks
    • #2
    • 9th Mar 18, 1:58 PM
    • #2
    • 9th Mar 18, 1:58 PM
    1. Top the HL LISA up to £4K before 5 April with your £3.9K other savings.
    2. Transfer the HL LISA to a Skipton once that's been done.
    3. Keep paying in to your HTB until late 2018, for the (presumably better) interest rate.
    4. Transfer £4K from HTB to the LISA in time to get the 25% bonus before your property purchase.
    5. Close both accounts when ready to buy.
    This gets you 25% bonus on the largest amount possible (£8K) and optimises your interest....
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