Lifetime ISAs guide

eskbanker

20SmthngSver wrote: »

masonic wrote: »

17th April falls within the 6th April-5th May "month", so month 2 would be June. You'll no doubt get it before 14th June.

Oh really? I'm sure it came in quicker last year.

Your original quote ("It's meant to be paid within 14 days of month two") omitted the key words of "It's meant to be paid within 14 days of the 20th day of month two"!

So, yes, they should pay within 14 days of Monday 20th May, which IMHO is more likely to mean Monday 3rd is the deadline rather than the Sunday.

However, if you already had the account a year ago and are familiar with how it works then there shouldn't be any reason to worry about non-payment or delay?

20SmthngSver

Yeah I know.

This time last year I'd already received the bonus. I'm just asking why with essentially 2 days to go before their own deadline I haven't received it. Just a question.

Alexland

20SmthngSver wrote: »

This time last year I'd already received the bonus. I'm just asking why with essentially 2 days to go before their own deadline I haven't received it. Just a question.

If you are really interested then ask them when it will be paid? It only really matters if you are on the edge of making a withdrawal for a qualifying property purchase. For those of us using our LISAs for age 60 it's nice to see the bonus added (thank you HL for being quick) so we can invest the money but it doesn't really matter.

Alex

20SmthngSver

I know when it should be paid, I'm just asking what I should do if it's not paid by when they say.

It's not imperative, I'm not buying a house yet, but obviously I'm missing out on interest if it goes beyond when they said. I'm probably a rarity that I have £19,000 in my account and this will take me to £20,000.

I guess I'm just impatient to see it go in! :rotfl: Everyone likes to see their bonus go in and check, preferably on time.

Alexland

If you are in a cash LISA the circa 1% interest on the £1k bonus is worth circa £1 per month so hardly worth asking for compensation etc. If concerned then just call them or send them a message.

Alistair31

masonic wrote: »

Last year I got my Apr/May bonus from AJ Bell on the 29th May. So I'd keep an eye out for it, it could be paid any day now.

Came in today

Thanks

Erose

Quick question. My boyfriend already has a Help to Buy ISA and I want to open a Lifetime one. When we buy a house together, can we use them both together? For example, can we use my lifetime one for the deposit and his for the mortgage deposit? Also, what are the best providers of LISA’s?

eskbanker

Erose wrote: »

My boyfriend already has a Help to Buy ISA and I want to open a Lifetime one. When we buy a house together, can we use them both together? For example, can we use my lifetime one for the deposit and his for the mortgage deposit?

Yes, one can use HTB and the other person a LISA, as long as the property purchase complies with the rules of both schemes.

Erose wrote: »

Also, what are the best providers of LISA’s?

https://www.moneysavingexpert.com/savings/lifetime-isas/#bestbuys summarises the (small) market.

Suski19

Hi all

My boyfriend and I are both first time buyers. I have a LISA and he has a Help to Buy ISA. Can we use both for the purchase of our house?

If that's not possible, can he transfer his Help to Buy ISA balance to a LISA, and can we both use LISAs for the purchase of our house?

Thanks.

eskbanker

Suski19 wrote: »

My boyfriend and I are both first time buyers. I have a LISA and he has a Help to Buy ISA. Can we use both for the purchase of our house?

Exactly the same question as the one answered in the post immediately before yours!

eskbanker wrote: »

Erose wrote: »

My boyfriend already has a Help to Buy ISA and I want to open a Lifetime one. When we buy a house together, can we use them both together? For example, can we use my lifetime one for the deposit and his for the mortgage deposit?

Yes, one can use HTB and the other person a LISA, as long as the property purchase complies with the rules of both schemes.