We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help to Buy ISA to LISA - Tansfer issues
EdwardJones
Posts: 1 Newbie
Hello,
I currently have a Help to Buy ISA (with under £4,000 in) with Nationwide.
I have decided the Help to Buy ISA isn't the right saving choice for me and I would like to start a LISA with The Nottingham Building Society and close my Help to Buy ISA.
*The Nottingham Building Society only allow a transfer from LISA to LISA from other providers. However I cannot transfer my Help to Buy ISA into a LISA with Nationwide as they do not offer LISAs....*
What is the best course of action?
Is simply closing the Help to Buy ISA and opening a LISA the best option as I can then simply transfer up to £4,000 into the LISA this tax year? I don't seem to lose anything dong this?
I have enough remaining ISA allowance to do this and do not need to use the LISA with 12 months.
I currently have a Help to Buy ISA (with under £4,000 in) with Nationwide.
I have decided the Help to Buy ISA isn't the right saving choice for me and I would like to start a LISA with The Nottingham Building Society and close my Help to Buy ISA.
*The Nottingham Building Society only allow a transfer from LISA to LISA from other providers. However I cannot transfer my Help to Buy ISA into a LISA with Nationwide as they do not offer LISAs....*
What is the best course of action?
Is simply closing the Help to Buy ISA and opening a LISA the best option as I can then simply transfer up to £4,000 into the LISA this tax year? I don't seem to lose anything dong this?
I have enough remaining ISA allowance to do this and do not need to use the LISA with 12 months.
0
Comments
-
If you have headroom in your £20K annual ISA allowance then yes, you can simply close your HTB ISA and pay into a new LISA without going via a direct transfer - there's nothing lost by doing so.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards