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LISA using after a transfering to new provider
MJEvans93
Posts: 2 Newbie
Looking for some help, I have a stocks and shares Lifetime ISA but have cashed out my investments as didn't want to the risk due to possibly buying in the next 6months. I don't want to pay the platform fee and can see I can transfer it to cash Lifetime ISA and get a bit of interest and cashback. But if I transfer it does it fall back into the rule that it has to be open for another whole year with the new provider? Any help on this would be great!!
0
Comments
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Transferring a LISA (via the new provider's transfer process) doesn't reset the clock.1
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You may wish to save or print evidence from your current LISA to demonstrate the account history just incase there are any queries when your solicitor attempts to draw the money within 12 months of joining the new provider.1
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Thanks for your comments back very useful and good idea keeping the evidence of the previous one0
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