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Transferring a LISA - What options do I have please?
bmf_fan
Posts: 8 Forumite
Hi everyone. Looking for some advice please - I have 2 LISA's currently. One is stocks/shares with HL which I'm happy with. The other is a cash LISA with Skipton.
If possible, I'd like to transfer the cash LISA to another provider but it seems like my options are very limited? As I understand, I cannot transfer to HL and there seems to be very few providers out there that will let me transfer as I'm over 40 years old.
Would really appreciate some further advice on the options that I have (if any).
Thanks is advance.
If possible, I'd like to transfer the cash LISA to another provider but it seems like my options are very limited? As I understand, I cannot transfer to HL and there seems to be very few providers out there that will let me transfer as I'm over 40 years old.
Would really appreciate some further advice on the options that I have (if any).
Thanks is advance.
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Comments
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There are no S&S LISA providers who deal directly with customers and will accept transfers from over 40s. For cash LISAs, the MSE guide would be a good starting point, but you may not be able to improve your interest rate.
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Ok, thanks for responding masonic. Much appreciated.0
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AJ Bell let you transfer in CASH to Stock Shares ISA only if you manage to work around the system. They say they cannot accept as you need to be under 40 to setup an account. So setup an account in error and then ask them to manually change that. Then you have an account setup for transfer in an existing LISA (not a new one) over 40.
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Its crying out for a provider to setup the official transfer for this. No provider can be bothered to set it up as HMRC made it too confusing for them/consumers... Transact can do it too but they charge a fee with a IFA.
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+ Martin Lewis should poke someone about this asap!
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