Transfer Old ISA To....

aadd

Ive got an old isa of 13k sitting at a stupidly low rate, is it worth transferring it to a another ISA, or pulling it out and putting it in premium bonds or something else, I dont need the money rite now but im saving for a mortgage so dont want it lock away for years. Any ideas?
thanks

chockydavid1983

Max out LISA/ HTB ISA and then best current accounts and regular savers

Alexland

Absoloutley follow the above advice and get a 25% government contribution for your first home.

aadd

Thanks
Can you transfer old cash isa into a LISA at all?

xylophone

https://www.moneysavingexpert.com/savings/lifetime-ISAs

Quick question
Can I transfer cash from other ISAs into my Lifetime ISA?
Yes, if the provider allows it. Even then though, you can only transfer £4,000 from other ISAs into the LISA in any one tax year (excepting the 2017/18 tax year when there's a special exemption to allow you to transfer any savings in your Help to Buy ISA to the LISA too).

As with any ISA transfer, anything you've moved from previous years' ISAs does not affect your current tax year's contribution.

For instance, if you transferred £4,000 into a LISA from a previous year's ISA in the 2017/18 tax year, you'd still be able to deposit £20,000 into a cash ISA, stocks & shares ISA or an innovative finance ISA (or a split between two or three of these) within the same tax year, though you'd have used up your LISA allowance for that year.

aadd

Thanks so you can only transfer "help to buy ISAs" into LISA not normal cash ISAs? I would have to take 4000 from my normal ISA into my bank then into the newly opened LISA rite?

thanks

Eco_Miser

aadd wrote: »

Thanks so you can only transfer "help to buy ISAs" into LISA not normal cash ISAs? I would have to take 4000 from my normal ISA into my bank then into the newly opened LISA rite?

thanks

That is NOT what post 5 says.

For this year only, a transfer from HTB (pre April 2017 subscriptions) to LISA can be additional to the £4000 LISA limit.