Skipton LISA Reviews

Jk920

Hi, I've been looking at different LISAs and I'm struggling whether I should bother to invest as I've read awful reviews about Newcastle Building Society and then Skipton Building Society. Can anyone please shed light on Skipton and let me know the overall process as it seems quite worrying. It is also not clear whether you can make multiple deposits (up till £4000 of course) or if it is just one off, this missing detail is a bit of a red flag to me.



-Can you deposit £10 then do £3990, following after a few days/make multiple deposits?
-Have you had positive or negative experiences with Skipton?



Thanks

eskbanker

I can't speak from direct experience so can't offer any further reviews (but it sounds like you've read plenty already), but on the subject of paying in, you can make multiple deposits totalling £4K per tax year - if there was a restriction then there'd be a clause in the Ts & Cs and/or summary box stating this (as there is for some fixed-term accounts), and there isn't....

grumiofoundation

Jk920 wrote: »

Hi, I've been looking at different LISAs and I'm struggling whether I should bother to invest as I've read awful reviews about Newcastle Building Society and then Skipton Building Society.

Skipton and Newcastle only offer cash ISAs to the best of my knowledge so you won’t be investing, you can’t lose any money.

The question of whether to fund a LISA (should open with £1 anyway!) probably shouldn’t really be decided based on the bank but based on whether you want to get the government bonus for house/retirement and therefore tie this money up.

I had Skipton LISA, subsequently switched to money box (higher interest - 1.4%). Haven’t had any problems with either so far but not actually “used” yet.

Gordon_the_Moron

I've had a Skipton LISA, Newcastle LISA and a Moneybox. No big problems with any of them.

Skipton and Newcastle couldn't have asked for anything better.

Moneybox irritated me a bit at the start. I missed one of the details off my transfer form (my fault fine) but they didn't contact me so when the transfer hadn't happened they said we got your form we need this then the transfer happens. I also don't find their app that user friendly but its tolerable.

If you want an online LISA that isn't app only take a look at Nottingham BS as long as you haven't had any LISA before (they dont allow transfers in) it pays 1.25% beating Skipton and Newcastle.

I'm a regular customer of Nottingham with other accounts and their service has been impeccable. This is the account I'd have if it allowed transfers but they didn't launch it until after Skipton so I already had one and no transfer option.