HTB ISA to Cash ISA

PawelK

Hello.

My partner has been saving in HTB ISA for a while. At the moment it is very unlikely that the money will be used for purchasing property. So, my question is,can HTB ISA be transferred to Cash ISA?
Another question is, if it sits there for a while, I guess it can never be moved back to a different HTB ISA if the situation changes and money would be used for FTB?

Many thanks.

eskbanker

PawelK said:

My partner has been saving in HTB ISA for a while. At the moment it is very unlikely that the money will be used for purchasing property. So, my question is,can HTB ISA be transferred to Cash ISA?

Yes, HTB is already a cash ISA, and can be transferred into a standard one.

PawelK said:

Another question is, if it sits there for a while, I guess it can never be moved back to a different HTB ISA if the situation changes and money would be used for FTB?

HTB ISAs are no longer available, so getting rid of one now would be irreversible, although partner could keep options open by leaving a small balance in there, but it could only be topped up by £200 per month if wanting to restart funding.  Another alternative would be a Lifetime ISA, which effectively replaced HTB, but it's more restrictive about use of the money so is unlikely to be suitable if a first time property purchase is unlikely.