Lifetime ISAs guide

Sussex_Dave

Skipton bonus for the LISA and HTB ISA transfer received. Declaration is with them so fingers crossed the transfer is made soon.

Alexland

HL just confirmed my wife will need to wait up to 1 month following her transfer completion date to receive her bonus for last tax year.

tg99

Is it still just HL and AJ Bell who offer the stocks and shares LISA where you can select your own investments? Anyone aware of any others set to launch in the near future?

sully1311

As stated on the specific thread, I!!!8217;ve received the bonus in my Skipton LISA.

Alexland

tg99 wrote: »

Is it still just HL and AJ Bell who offer the stocks and shares LISA where you can select your own investments? Anyone aware of any others set to launch in the near future?

No there are lots more available from Nutmeg, Share Centre, Moneybox, Foresters Friendly, Police MetFriendly or if you are a client of Killik & Co or an IFA via Transact. Although the choices with some are limited.

But for a DIYer HL and AJB are probably the best depending on your contribution values and trade volumes.

Alex

pink_pirlie

Sussex_Dave wrote: »

Skipton bonus for the LISA and HTB ISA transfer received. Declaration is with them so fingers crossed the transfer is made soon.

Good luck!!! HL have been excellent!
We have already withdrawn the capital but as the bonus has now been paid and we don’t complete til Monday they Have said we should be able to get it tomorrow if solicitor express posts them the request today. Extra £250 towards the house will be well received.

Alexland

pink_pirlie wrote: »

Good luck!!! HL have been excellent!
We have already withdrawn the capital but as the bonus has now been paid and we don’t complete til Monday they Have said we should be able to get it tomorrow if solicitor express posts them the request today. Extra £250 towards the house will be well received.

So through their efficiency they have lost you as a customer as you may have otherwise retained the LISA bonus in a long term investment for retirement? I assume they will deduct the £25+vat account closure fee from the balance before they transfer the money to your solicitor.

Alex

pink_pirlie

Alexland wrote: »

So through their efficiency they have lost you as a customer as you may have otherwise retained the LISA bonus in a long term investment for retirement? I assume they will deduct the £25+vat account closure fee from the balance before they transfer the money to your solicitor.

Alex

We have to leave £50 in the account as the 18/19 bonus hasn’t gone in yet. We may well leave that in there until we need it - but yes the £25 closure fee will be deducted if and when we do close the account.
We were planning on withdrawing with 25% penalty if and when we need it. So long as we didn’t pay a penalty on our capital we took even 75% of the bonus as a win.

Alexland

pink_pirlie wrote: »

We were planning on withdrawing with 25% penalty if and when we need it. So long as we didn!!!8217;t pay a penalty on our capital we took even 75% of the bonus as a win.

We wouldn't dream of ever paying the penalty unless it was absolutely necessary. Even when you become a homeowner its still worth considering the benefits of investing for retirement in your LISA alongside a workplace pension.

I will be 60 when my son is 24 and sniffing around for help with his house deposit. Hopefully there will still be a government FTBer scheme so he can get a further bonus on the money.

He's not getting it all as some of it will get recycled into my wife's pension to bridge the gap until her LISA becomes available 6 years later when hers will get recycled until she is 75 and stops making pension contributions. The excess might also buy the occasional new car in retirement.

Of course by then the rules may have changed to break my cunning plans.

Alex

tg99

Alexland wrote: »

No there are lots more available from Nutmeg, Share Centre, Moneybox, Foresters Friendly, Police MetFriendly or if you are a client of Killik & Co or an IFA via Transact. Although the choices with some are limited.

But for a DIYer HL and AJB are probably the best depending on your contribution values and trade volumes.

Alex

Thanks, yep I select my own funds/shares rather than opting for a ready made portfolio such as Nutmeg which rules out everyone but HL and AJ Bell I think. At the time of opening my existing LISA there was only HL hence went with them but for this year’s probably makes sense for me to open with AJ Bell given the platform fee of 0.25% v 0.45% for HL (notwithstanding the small trade cost with AJ Bell). I see AJ Bell offer to pay transfer costs but only for portfolios of £20k upwards but may ask the question just incase to see if worth transferring my c£5.5k LISA from HL.