Help to Buy ISA vs Lifetime ISA

tristanb8424

Hi, I have watched Martins ITV shows and receive weekly emails from your site which are fantastic and I thank you for your advice on all financial matters. However, I cannot seem to find the answers on your website or in the programmes and feedback from other financial on what I should do with the introduction of the new tax year as there is a lot of confusion with regarding the Help to Buy vs LISA. I have a Help to Buy Isa with a current balance of £3,800 at an interest rate of 4%. I am employed with a company that pays 12.5% towards my pension and I pay 25% of my month wages towards it too. Why should I go for a LISA, ‘as it’s a no brainer ’says Martin, knowing the complications with it being for a dual purpose?

ruperts

You can put more money into a LISA and therefore earn a bigger bonus. I think that's the main advantage. Only works if you're not planning to buy for another year though as I don't think LISA bonuses can be used towards a house in this tax year.

savings_my_hobby

I want to open a cash LISA but there is not one available until June, should I keep paying into my HTB ISA? when should I switch/transfer my HTB ISA?