Lifetime ISAs guide

eskbanker

squiz18 said:

Quick question, I've just opened a Lisa with AJ Bell, and deposited £2000. I haven't invested it yet but presumably this still counts as this years allowance and I would be able to put in £4000 next year?

And i will get the government top up on the £2000 even if I keep the money in the cash account without investing it?

That's two questions!  Both are 'yes'....

squiz18

eskbanker said:

squiz18 said:

Quick question, I've just opened a Lisa with AJ Bell, and deposited £2000. I haven't invested it yet but presumably this still counts as this years allowance and I would be able to put in £4000 next year?

And i will get the government top up on the £2000 even if I keep the money in the cash account without investing it?

That's two questions!  Both are 'yes'....

Thanks for your help!

owenjt

How does the process work if you're offering an additional amount for fittings (furniture etc) which does not form part of the purchase price? 

Say you wanted to offer £460k for a house including £10k for fittings. Do you just offer £460k to the vendor and if accepted would your solicitor sort everything out and attribute the LISA to the purchase price and £10k to the fittings?

masonic

owenjt said:

How does the process work if you're offering an additional amount for fittings (furniture etc) which does not form part of the purchase price? 

Say you wanted to offer £460k for a house including £10k for fittings. Do you just offer £460k to the vendor and if accepted would your solicitor sort everything out and attribute the LISA to the purchase price and £10k to the fittings?

Your solicitor would need to ensure the money withdrawn from the LISA does not exceed the mortgage deposit. If you are contributing £10k or more of non-LISA money towards the purchase then this should not be a problem.

Blackbriar_040

Moneybox Cash Lisa rate dropping!
From Tuesday 4 May the interest rate will decrease to 0.3% AER!

leach1807

What are the best LISAs to apply for? 

grumiofoundation

leach1807 said:

What are the best LISAs to apply for? 

Depends what you want to use the LISA for.

If for a house purchase in the near future - pick cash LISA with the best interest rate.

if for retirement - pick a stocks and shares LISA. If you want wide choice to pick your own investments AJ Bell or Hargreaves Landsdown. If you want the investments picked for you moneybox, nutmeg will pick for you based on your 'risk profile.

eskbanker

leach1807 said:

What are the best LISAs to apply for? 

The ones listed in the comprehensive MSE LISA guide that this thread was set up to discuss (linked from page one).

Curly

Hi everyone, have you any idea when the cutoff date is for getting your extra 25% the same month. im with the nottingham and im in the early stadge of buying a house. i really want to put some more money into it to maximise the grant however there is no point if i cant get the bonus this month as the house will probly go through in the next 6 weeks or so.

eskbanker

Curly said:

Hi everyone, have you any idea when the cutoff date is for getting your extra 25% the same month. im with the nottingham and im in the early stadge of buying a house. i really want to put some more money into it to maximise the grant however there is no point if i cant get the bonus this month as the house will probly go through in the next 6 weeks or so.

If you pay in by the end of today (5th), you should receive the bonus around the end of this month - any later and it would be the end of June.