H2B to LISA Transfer - info needed

Alexland

Don't contract for a completion date too tight to the 12 month anniversary as your provider will have to do some checks before releasing the money to your solicitor. Leave room for admins and errors.

ACCA

Alexland wrote: »

Don't contract for a completion date too tight to the 12 month anniversary as your provider will have to do some checks before releasing the money to your solicitor. Leave room for admins and errors.

Do you think a week would be enough? Do you know if there is a particular detailed guidance similar to HTB ISA?

ValiantSon

ACCA wrote: »

Do you think a week would be enough? Do you know if there is a particular detailed guidance similar to HTB ISA?

Probably best to speak to your LISA provider and ask them what the timescale would be for processing.

ACCA

ValiantSon wrote: »

Probably best to speak to your LISA provider and ask them what the timescale would be for processing.

Called Skipton today, please see below the summary, maybe it's going to help someone.

- it's solicitors who need to apply for the funds and bonus
- 30 working days are required from the day when the application is submitted for funds to be released
- funds can't be held in solicitor's account for longer than 90 days
- funds can be used exclusively for deposit of your new home
- if say, your solicitors applied for the funds and bonus after 12 months since account opening, but the completion happens earlier than 30 days since application is submitted - then it's a higher inherent risk that you may loose the benefit; this is my case and i decided not to transfer my HTB ISA.
- calling Skipton is useful, however web-chat is even better

hope this is helpful for anyone