Which gives me better interest - My LISA or HTB?

Nicosy

bp5678 wrote: »

Thanks for letting me know about Moneybox. Is it relivately easy to just transfer from one LISA to another? I presume there’s no penalties/problems in doing this?

The Moneybox app for their LISA is very user-friendly and shows current earnings, today's interest, pending bonuses, in progress deposits and withdrawals, completed transactions, interest due, etc etc.

But from what I've read, actually getting access to the deposit when it comes to buying a house does seem to be a relatively complicated thing to. Skipton has experience of doing all of that and do seem to solve any problems associated with it fairly efficiently. Customer service doesn't really count for anything when the money is just sitting there but I do think it will count for something when the time comes for a house purchase.

Skipton give £250 cashback on their mortgage fees if you have their LISA. So, if you happen to be going for one of their mortgages, that might rebalance things and therefore be worth considering as well.

SammenForLivet2

Forgive me if I'm completely wrong here, but if your happy to be old-school, and not concerned about no app access, my understanding is Unity Mutual have the highest LISA rate - 1.5% fixed until April 2020?

eskbanker

SammenForLivet2 wrote: »

Forgive me if I'm completely wrong here, but if your happy to be old-school, and not concerned about no app access, my understanding is Unity Mutual have the highest LISA rate - 1.5% fixed until April 2020?

The Unity Mutual product is a S&S LISA rather than a cash one though, so not strictly a like-for-like comparison, despite UM's attempts to structure it in a way that mimics a cash product....

bp5678

Nicosy wrote: »

The Moneybox app for their LISA is very user-friendly and shows current earnings, today's interest, pending bonuses, in progress deposits and withdrawals, completed transactions, interest due, etc etc.

But from what I've read, actually getting access to the deposit when it comes to buying a house does seem to be a relatively complicated thing to. Skipton has experience of doing all of that and do seem to solve any problems associated with it fairly efficiently. Customer service doesn't really count for anything when the money is just sitting there but I do think it will count for something when the time comes for a house purchase.

Skipton give £250 cashback on their mortgage fees if you have their LISA. So, if you happen to be going for one of their mortgages, that might rebalance things and therefore be worth considering as well.

Thanks. Since I'll likely be buying in about 10 months time, I don't know which provider I'll use at this stage. I think I'll take the risk and change and hope Skipton's mortgage doesn't turn out to be my best option when it comes to buying.