Can lifetime ISA benefits being taken away?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
14 replies 1.3K views
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  • AlexlandAlexland Forumite
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    aj23 wrote: »
    IA lot of people will have more than £4000 in their Help to Buy ISA. Transferring it was an easy way to make an extra £1000.

    But they would have got the 25% bonus anyway if they carried on using the HTB ISA?

    Alex.
  • aj23_2aj23_2 Forumite
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    Alexland wrote: »
    But they would have got the 25% bonus anyway if they carried on using the HTB ISA?

    Alex.

    Well, no, because you'd have to close the HTB ISA in order to do that. You can transfer up to £4k out and still keep the HTB ISA open.

    HTB bonus isn't cash, you never see it personally.
  • AlexlandAlexland Forumite
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    aj23 wrote: »
    HTB bonus isn't cash, you never see it personally.

    But the money is in the property so it's the same net asset position either way?
  • aj23_2aj23_2 Forumite
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    Alexland wrote: »
    But the money is in the property so it's the same net asset position either way?

    Yeah but I mean it never gets deposited as cash into the account in order to use for a mortgage. A conveyancer has to apply on your behalf and it goes directly to the mortgage company.

    LISA bonus gets paid cash into your account and can be used toward deposit or mortgage. Many ways I think LISA is less restrictive an can net you more.
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