Lifetime ISA Hacks?

MisterMotivated

MikeyBeLike wrote: »

This isn’t an English exam, I’m writing how I would speak.

It would still be incorrect when spoken.



Grammar standards seem to be in rapid decline these days.

MikeyBeLike

MisterMotivated wrote: »

It would still be incorrect when spoken.



Grammar standards seem to be in rapid decline these days.

Incorrect to who? A literate teacher? Or just !!!!!! internet trolls? If I speak to anyone in real life they would have no problem dissecting what I am verbally saying.
Honestly didn't think i'd find internet trolls on this part of the internet but alas lol

MikeyBeLike

Wildsound wrote: »

When are you looking to buy? If the time is a while away, then another "hack" to consider is also getting a help to buy ISA to benefit from the higher than normal savings account rates which compound the whole balance until you close the account.

You can't get the bonus on both, but the idea with the HTB ISA is not to get the bonus on it, only to pocket the interest and close the account when you buy (assuming your only intention of using the LISA is for a house purchase and not for retirement).

However, with HTB ISA interest rates coming down and the new accounts due to close at the end of this year, this "hack" only really becomes viable if you are either on a historic high rate which has yet to come down (some very early accounts still have near 4% interest) or if your time horizon is further down the line and you don't expect the interest rates on the accounts (as they are variable) to go any further down after they close to new business.

If you're looking to buy in the next 2 years, then the above will likely not give any benefit over just using regular savers (some giving 5%) and then recycling the money into instant savings accounts on maturity when you start again the following year. If you are a high earner and able to max out current accounts and regular savers and have no where else to go, then the above would then come back into play as an additional savings vehicle.

Yeah I actually did this accidently. I've had a HTB ISA open from since I graduated - about 2 years now, so have been getting the increased interest off it since then. My mindset initially was that based on how soon i'd buy a property i'd go with either HTB ISA or LISA, i.e if I was to buy within 12 months of opening LISA i'd just fallback on the HTB ISA bonus, else go with the LISA. But my LISA initial 12 months period is coming close now so will be going with the LISA.

Thank you for your generous advice.

MisterMotivated

SoMikeyBeLike wrote: »

Incorrect to who?

So that one's too easy.

A literate teacher?

So I would hope all teachers are literate.

If I speak to anyone in real life they would have no problem dissecting what I am verbally saying.

So that's no excuse. So I'm not aware of anyone with tourette's on here putting their random vocal tics in their posts.



So let me ask you a serious question. So if you 'write' (type) how you would speak, why do you choose to start sentences with 'so'? So what purpose does it serve?