Maturing cash ISA

sparrow49

Hello, I'd appreciate some advice! I have a cash ISA that matures in November. When this happens I'd like to take some of the balance to pay off mortgage but will have approx £1000 left. Am I able to withdraw some cash and transfer the other £1000 to an ISA with the post office who seem to have a good rate at the mo? How long after the ISA matures do I have to sort it out? I have not used all of this years ISA allowance yet.
Thanks v much xx

Baldur

sparrow49 wrote: »

Am I able to withdraw some cash and transfer the other £1000 to an ISA with the post office who seem to have a good rate at the mo?

Yes

How long after the ISA matures do I have to sort it out?

That depends on the terms & conditions of the current Cash ISA (I presumed that it's a fixed-rate product, as you refer to 'maturing') - I have one maturing at the end of October, which only gives me a 14-day window in which to transfer to a different provider.

Milarky

Baldur wrote: »

I have one maturing at the end of October, which only gives me a 14-day window in which to transfer to a different provider.

That's rich, considering the "they're allowed 30 days" nonsense I was informed of only today....

Baldur

Milarky wrote: »

That's rich, considering the "they're allowed 30 days" nonsense I was informed of only today....

They give 30 days advance notice of reinvestment/transfer options, plus the 14 day window, so no real problem......

If you are unfortunate enough to miss the transfer window, the funds are swept into their variable rate ISA, which has a 90 day notice period.....:eek: