We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Transfer from Lifetime ISA
CharlotteA20
Posts: 1 Newbie
I understand that if you withdraw any more from a Lifetime ISA that's not for a house deposit you lose 25% back from the government. However, I can't find anything online if it will effect the rest of the money in the ISA.
Say I wanted to withdraw 10% of my full ISA savings (to help pay off debt/overdraft/bills then meaning my financial situation will be back on track and I can start saving again) while I will lose some money from the withdrawal, will the rest left in my ISA be effected? Thanks
Say I wanted to withdraw 10% of my full ISA savings (to help pay off debt/overdraft/bills then meaning my financial situation will be back on track and I can start saving again) while I will lose some money from the withdrawal, will the rest left in my ISA be effected? Thanks
0
Comments
-
Any withdrawal from a LISA (other than for a qualifying first property purchase or after 60) is subject to a penalty of 25% of the amount withdrawn, but the remaining account balance is unaffected by that.1
Categories
- All Categories
- 345.8K Banking & Borrowing
- 251K Reduce Debt & Boost Income
- 450.9K Spending & Discounts
- 237.9K Work, Benefits & Business
- 612.7K Mortgages, Homes & Bills
- 174.3K Life & Family
- 251K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards