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Can you as a couple use both a LISA and a H2B?
Quinnaay
Posts: 9 Forumite
Okay, so we set up both but only i put a £1 in the LISA in October (skipton) to set the 12m timer ticking. I know i alone can only use one of the bonuses but if buying as a couple can one use a LISA and my GF use the H2B as a joint?
Last question, does the 25% bonus get added after every month or every year? for example if i put £4k in after the tax year do i have to wait another year to get that bonus or just a month?
Thanks
Luke.
Last question, does the 25% bonus get added after every month or every year? for example if i put £4k in after the tax year do i have to wait another year to get that bonus or just a month?
Thanks
Luke.
0
Comments
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Okay, so we set up both but only i put a £1 in the LISA in October (skipton) to set the 12m timer ticking. I know i alone can only use one of the bonuses but if buying as a couple can one use a LISA and my GF use the H2B as a joint?
Last question, does the 25% bonus get added after every month or every year? for example if i put £4k in after the tax year do i have to wait another year to get that bonus or just a month?
Thanks
Luke.
Yes, if you have a LISA and your girlfriend has an HTB ISA and you are jointly purchasing somewhere you can claim the bonuses for both the LISA and HTB ISA. If your girlfriend has already opened a LISA is there a particular reason she is choosing to use the HTB ISA to save a deposit instead?
A lot of your questions are answered in MSE's LISA article.
https://www.moneysavingexpert.com/savings/lifetime-ISAs0 -
She didn't open a LISA and it needs 12m to be usable so the times already gone now.
Last question does the interest get paid monthly or is it after every financial year.0 -
She didn't open a LISA and it needs 12m to be usable so the times already gone now.
Last question does the interest get paid monthly or is it after every financial year.
That depends on the ISA provider. In your case as your cash LISA is with Skipton interest is earned daily and added to your account at midnight on the anniversary of the date your account was opened.
https://www.skipton.co.uk/savings/isas/cash-lifetime-isa0
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