Transfer Lifetime ISA over 40

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I've had a lifetime ISA for 4 years and it has performed really badly. Now over 40 and I can't transfer it. I've stopped paying in but inflation will make it worthless by the time I'm 60. What can I do?
HargreavesLandsown will not let you transfer from an existing LISA and AJ Bell will not even let me open one as I am over 40? Are these schemes just a con? To have money locked into a bad account for 20 years+ is just ridiculous.
HargreavesLandsown will not let you transfer from an existing LISA and AJ Bell will not even let me open one as I am over 40? Are these schemes just a con? To have money locked into a bad account for 20 years+ is just ridiculous.
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Is it a cash one or an S&S one? It's never been a sensible idea to use a cash one for that very reason (inflation) but 'performing badly' suggests the variability of a S&S one - if that is the case then why do you conclude that it'll lose to inflation for the next twenty years, is this based solely on recent drops in investment values?
HL don't accept transfers into their LISA from other LISAs, as per https://www.hl.co.uk/investment-services/lifetime-isa/transferring
Unfortunately, we can’t currently accept transfers from other Lifetime ISAs.
Also has the OP tried EQi to see if they will accept a LISA transfer over 40? Their charges looked reasonable.
Still if the root of the problem is that the OP isn't impressed with the stock market crash that's going to be the same with all S&S providers. Unless the OP was to pick an active fund on a DIY platform that happened to outperform the market.
From age 40, you may be able to open an account with us by transferring the value of an existing Lifetime ISA. For details of the transfers we currently accept please refer to our website.
I opened it rather naively thinking transfers would be easily available a couple of years ago. The balance is low - roughly £1300 - but am now looking to add to it. Don't want to end up paying what could be £120 in charges if Eqi is taken over though!
EQi will probably stop accepting new LISA customers soon as that's what happened when II bought The Share Centre. You would need to use the paper form if you wanted to transfer.
Might be worth emailing AJ Bell to ask their latest plans for over 40s as at least it will show some market demand? Please let us know if they tell you anything useful.