Transfer to skipton LISA

lambert91

I have a h2b isa with Halifax and a LISA with nutmeg. I am wanting to transfer the money from both of these into a skipton LISA and top it up before April so I have used the full 4k allowance. How would I go about doing this? Would it be:

transfer halifax h2b into nutmeg LISA, top up with any remaining allowance then transfer into skipton LISA?

Thanks for any help.

Alexland

Nutmeg have advised customers they are not accepting HTB ISA to LISA transfers as they could not get their IT systems functionality working in time. Despite being a digitally enabled next generation robo....

Suggest you open the Skipton LISA and start the process of transferring the Nutmeg to Skipton ASAP. Then you need to start the HTB ISA to LISA transfer with Skipton quickly but definitely before 1st March which is their final deadline. Then top-up by 5th April.

Hurry it's urgent, now every day counts.

Sadly I expect we are going to have a lot of people who have left it too late posting a similar question soon then getting angry at the system.

Alex.

JustAnotherSaver

Just to throw it out there (& echo what Alex said) ... my sister began the process to transfer her HL S&S LISA to Skipton on 1st December.

Only today did the money show up in her Skipton account.

throwaway12345

Alexland wrote: »

Nutmeg have advised customers they are not accepting HTB ISA to LISA transfers as they could not get their IT systems functionality working in time. Despite being a digitally enabled next generation robo....

Suggest you open the Skipton LISA and start the process of transferring the Nutmeg to Skipton ASAP. Then you need to start the HTB ISA to LISA transfer with Skipton quickly but definitely before 1st March which is their final deadline. Then top-up by 5th April.

Hurry it's urgent, now every day counts.

Sadly I expect we are going to have a lot of people who have left it too late posting a similar question soon then getting angry at the system.

Alex.

Why's it urgent? Skipton have a deadline of March 1st, so surely they have that for a reason? Do it before then and they'll ensure it's done?

---

May I also clarify the situation with the bonus etc. As with everyone who opened their Help to Buy ISA at the start, I've got £5686.45... so assuming I add my Jan contribution it'll be £5886.45.

Once it's transferred into my Skipton LISA am I correct in thinking I'll be able to then add and additional £2200 in this financial year? So then my LISA balance will be £8086.45? And I'll get a bonus of £2000 paid in? Will the interest from Halifax since the £86.45 paid in Feb '17 also be transferred over?

eskbanker

throwaway12345 wrote: »

Why's it urgent? Skipton have a deadline of March 1st, so surely they have that for a reason? Do it before then and they'll ensure it's done?

OP needs to get a Skipton LISA opened and then arrange two separate transfers into it underway before 1 March - given that S&S transfers typically take significantly longer than cash ones I think it's sound advice to get cracking asap.

throwaway12345 wrote: »

May I also clarify the situation with the bonus etc. As with everyone who opened their Help to Buy ISA at the start, I've got £5686.45... so assuming I add my Jan contribution it'll be £5886.45.

Once it's transferred into my Skipton LISA am I correct in thinking I'll be able to then add and additional £2200 in this financial year? So then my LISA balance will be £8086.45? And I'll get a bonus of £2000 paid in? Will the interest from Halifax since the £86.45 paid in Feb '17 also be transferred over?

Your transfer from HTB to LISA needs to be split into pre-17/18 and 17/18 elements - the former is whatever was in the HTB at 5 April 2017 plus interest accrued but not paid at that date, and whatever's left (including closing pro rata interest) counts towards the £4K annual LISA limit.