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help to buy LISA
elli592
Posts: 4 Newbie
Hello,
I have just about got enough money to start a help to buy Isa as of this week. I'm aware that in April there will be the LISA starting which would be preferable because you can put more money in per year.
If I was to open one now would I still have a 4000 allowance if I was to transfer my money over to a LISA in April or would my yearly allowance be 4000 - the money in my help to buy (about 1600)?
can I open a help to buy Isa now and transfer it to a LISA this year or do I have to wait a year?
Any advice would be greatly appreciated
I have just about got enough money to start a help to buy Isa as of this week. I'm aware that in April there will be the LISA starting which would be preferable because you can put more money in per year.
If I was to open one now would I still have a 4000 allowance if I was to transfer my money over to a LISA in April or would my yearly allowance be 4000 - the money in my help to buy (about 1600)?
can I open a help to buy Isa now and transfer it to a LISA this year or do I have to wait a year?
Any advice would be greatly appreciated
0
Comments
-
Some good info around noted:
https://www.gov.uk/government/publications/lifetime-isa-explained
https://www.ft.com/content/8e78606a-ec78-11e5-888e-2eadd5fbc4a4"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
The MSE guide says that transfers won't impact your 2017/18 allowance:If you've already saved into a Help to Buy ISA before the Lifetime ISA starts, you'll be allowed to transfer it into the LISA, still getting the bonus, without it having an impact on your allowance...
Only money put in a Help to Buy ISA before 6 April 2017 can be transferred without impacting the allowance.
You'll have until 5 April 2018 to transfer it across.
We have a HTB ISA each and are planning to transfer to LISAs in April.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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