Savings Setup Needs Refreshed

MoneyMan01

Thanks. I will definitely read up fully. All I have put in for the time being is a £1 a while back to get the "has to be open a year" ball rolling.

Alexland

TheDarkKnight93 said:

Thanks. I will definitely read up fully. All I have put in for the time being is a £1 a while back to get the "has to be open a year" ball rolling.

You will probably find a 25p bonus is (or has been) added after a month or two. Each month the provider takes an extract of all contributions between the 6th of the previous month and 5th of the current month and makes a 25% bonus claim against HMRC which takes about 3-4 weeks to get the bonus into the account.

DireEmblem

Hargreaves LISA with active savings.  Stick 4k in this tax year, stick 4k in next tax year, and the Government will give you 2k.

grumiofoundation

DireEmblem said:

Hargreaves LISA with active savings.  Stick 4k in this tax year, stick 4k in next tax year, and the Government will give you 2k.

I am pretty sure you can't currently use HL Active savings in a LISA (happy to be corrected). 

Alexland

Yes their Active Savings product doesn't come with any ISA wrappers unless DireEmblem is aware of something new?

DireEmblem

Good point, on its way apparently.