Switching from Normal ISA to First House Buyers ISA & This Year's Allowance

buggyboy

Hi Everybody,

I'm looking to change ISA's this year as I'm looking to get onto the property ladder in the next year or two. I've got a bog standard ISA but looking to change into the new First Time House Buyers ISA later this year.

Will I be able to pay into the current ISA I have, stop when the First Time House Buyers ISA come out, and then start paying into that?

I never get anywhere near the limit, so cannot think that is a problem, but I'm not used to switching ISA's.

Thanks

le_loup

No you can't - and - you may not start an ordinary ISA this tax year if you propose opening FTB ISA.