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Funds from Remortage to S&S ISA
infoexchange
Posts: 7 Forumite
Hi,
I recently managed to get the remortgage with the purpose of using the funds for house renovation. As the design, planning application and permission are going to take a few months. Can I use some of the funds to contribute to my stocks and share ISA allowance for the year 20/21? Idea is to invest the funds as it will be sometime before we start the renovation project.
I understand the risk with ISAs but my question is if it legal and not in a violation of any UK law if I was to transfer remortgage funds to my Stocks and Shares ISA.
Any inputs on this will be greatly appreciated.
Thanks.
I recently managed to get the remortgage with the purpose of using the funds for house renovation. As the design, planning application and permission are going to take a few months. Can I use some of the funds to contribute to my stocks and share ISA allowance for the year 20/21? Idea is to invest the funds as it will be sometime before we start the renovation project.
I understand the risk with ISAs but my question is if it legal and not in a violation of any UK law if I was to transfer remortgage funds to my Stocks and Shares ISA.
Any inputs on this will be greatly appreciated.
Thanks.
0
Comments
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@infoexchange I'm pretty sure you're not breaking any laws here. However, whether you're breaking the T&Cs of the capital raise remo you just did is another question.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Thanks for taking the time to reply. I will check the T&Cs of my remortgage agreement.0
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Are you prepared to potentially lose money?0
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