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Martin Lewis: A warning to first time buyers...

edited 30 November -1 at 1:00AM in Martin's Blogs & Appearances & MoneySavingExpert in the News
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MSE_EeshaMSE_Eesha MSE Staff
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This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Please click 'post reply' to discuss below.


  • I opened a Help to buy ISA a few years ago and in April 2017 I opened a LISA to "start the clock" such that I could use it from April 2018 if I want to. I open my LISA with nutmeg, who don't allow you to transfer your help to buy ISA to them. Is it possible to transfer my LISA and the money from my help to buy ISA to Skipton and still keep all my bonuses and still be able to use it after april 2018?

    Thanks in advance
  • Jane_BJane_B Forumite
    131 Posts
    I would suggest calling skipton to ask before transferring anything, My daughter just transferred her Help to buy ISA to the Share Centre LISA as they are doing a good competition at the moment, and have good reviews, so i'd assume the same would be for Skipton but not 100%, for something like this i'd call first :s
  • In the posting on the website, it states: "That means with a LISA you could put £4,000 in today, £4,000 in on 6 April 2018 (the start of the new tax year) and £4,000 in on 6 April 2019".

    I opened my LISA about 3 weeks ago, and deposited the £4000, I plan on putting another 4k in next tax year. My question is about the 4k I could put in on 6th April 2019. If I'm planning on buying late summer 2019, is it worth putting the 4k into it for the 6th April 2019? Or will I not get the bonus unless that money has been in my account for the full tax year? (Ie if I was planning on buying after 6th April 2020).

  • You say that if you open a LISA today, put £4000 in today another £4000 on 6th of April 2018, and £4000 6th of April 2019, then you'd have £3000 in bonus... Is the bonus paid as soon as the the money is paid in? If not how long would I have to wait in 2019 to get the full bonus amount?

This discussion has been closed.