Lifetime ISA - Over 40s - Is this new?

rjmachin

I have just seen this on the AJ Bell website:
https://www.ajbell.co.uk/learn/lifetime-isa-over-40

It says you can open a Lifetime ISA if you have one elsewhere and transfer it over.

Is this new?

I already have mine with AJ Bell, but thought it may be helpful to others if it is new.

eskbanker

New in March:

https://forums.moneysavingexpert.com/discussion/comment/79949730/#Comment_79949730

masonic

Not sure if it is actually possible yet. Someone reported quite recently that it was still a case of "computer says no" for the time being.

intalex

When you try sign up on https://www.ajbell.co.uk/apply/lifetime-isa and enter your date of birth, it immediately drops the error in red below the date of birth field:

Lifetime ISAs can only be opened if you are under 40

However, their app-only subsidiary brand Dodl do allow over 40s to open and transfer in a Lifetime ISA, although it has less investment options and also has no fee cap (despite a lower ongoing maintenance fee 0.15%).

dunstonh

It says you can open a Lifetime ISA if you have one elsewhere and transfer it over.


Is this new?

New to them but not new to Lifetime ISA rules.   However, only a small number of platforms supported LISA transfers.

Nurse2047

I was able to transfer a cash LISA to Dodl after the age of 40 

intalex

I have managed to open a LISA with AJ Bell as an over-40 with the option to transfer in - it needed the workaround of first opening any other account (e.g. dealing account) and then once logged on, I was able to open the Lifetime ISA despite being over 40, and have also initiated a transfer in.

alco_pop

How have people found Dodl? I am looking to move my moneybox cash LISA to this.