Lifetime ISAs guide

P1Fanatic

Can’t see anything but Notts BS following suit. Should still be slightly higher than Skipton if you have to stay with a Cash LISA. 

Blackbriar_040

P1Fanatic said:

Can’t see anything but Notts BS following suit. Should still be slightly higher than Skipton if you have to stay with a Cash LISA. 

Looks like Nottingham B.S is no longer an option, they only allow you to transfer existing  LISA's if your under 40!
 
"Transfers in from a single Lifetime ISA provider are permitted (new online accounts only - aged 18-39)"

The age restriction is not included in the key info part for the Nottingham B.S LISA.
I only noticed after going on to the main Nottingham B.S site.
Already had S&S LISA, plus its for a first property purchase.

ryath

I have already used (and closed) a cash LISA to assist with a property purchase back in January.
Am I still eligible to open a S&S LISA for retirement purposes?

masonic

ryath said:

I have already used (and closed) a cash LISA to assist with a property purchase back in January.
Am I still eligible to open a S&S LISA for retirement purposes?

If you are still under 40 you can.

spotteddog

I know this is gonna sound stupid but do you get credit checked for a CASH LISA? And is now a good time to open one with what is happening in the world? 

eskbanker

spotteddog said:

I know this is gonna sound stupid but do you get credit checked for a CASH LISA?

No credit checks involved when opening savings accounts - there may be soft ID verification checks but these wouldn't be visible to prospective lenders.

spotteddog said:

And is now a good time to open one with what is happening in the world? 

As good a time as any, but I'm not sure why any external conditions would affect the use of a product like this, is there any particular potential impact that you're thinking of?

spotteddog

Thanks Eskban, just a bit worried that the government might stop the 25% bonus because of the financial implications of Coronavirus crisis

eskbanker

spotteddog said:

Thanks Eskban, just a bit worried that the government might stop the 25% bonus because of the financial implications of Coronavirus crisis

If the government was looking for additional pots of money beyond printing it, I think it's fair to say that there'd be a lengthy queue of more productive options than the odd grand here or there from the tiny population of holders of a niche product that never really took off!

spotteddog

That’s a good way of looking at it! 😂I doubt they’d get rid of something that could help with house buying as well when the housing market is interlinked with the economy as well. Thank you very much for your help ☺️

Zorillo

Also, if you're worried the government are going to stop the bonus, it would make more sense to grab it while you can rather than not take it while it continues to exist...