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Transferring LISAs
Arhill
Posts: 1 Newbie
I have attempted to transfer a 5 year old cash LISA into another LISA provider.
I would like to now have a stocks & shares LISA.
Unfortunately, I am now over 40 and I cannot find an institution who will setup a LISA on my behalf.
I would like to now have a stocks & shares LISA.
Unfortunately, I am now over 40 and I cannot find an institution who will setup a LISA on my behalf.
Can anyone provide some names of providers who will accept such a transfer?
Possibly more important, what is the law with LISAs?
I accept you must be under 40 to open a LISA, but why is it that you cannot transfer an existing LISA,
which was obviously opened when I was younger, to a new provider once you are over 40?
Possibly more important, what is the law with LISAs?
I accept you must be under 40 to open a LISA, but why is it that you cannot transfer an existing LISA,
which was obviously opened when I was younger, to a new provider once you are over 40?
This does not make sense?
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Comments
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This crops up quite frequently. Unfortunately the answer, at present, is that you cannot, or rather none of the providers are set up to facilitate such a thing. Providers simply do not allow a person to open a new LISA if they are past their 40th birthday, and that is what you would need to do, initially, in order to then transfer the cash LISA in to the S&S LISA.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Similar thread with a link to another one.
Cash LISA transfer to S&S LISA when over 40? — MoneySavingExpert Forum
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