Lifetime ISA - Over 40s - Is this new?

rjmachin
rjmachin Forumite Posts: 319
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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.

Comments

  • masonic
    masonic Forumite Posts: 21,458
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    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
    intalex Forumite Posts: 759
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    edited 14 August at 5:06AM
    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
    dunstonh Forumite Posts: 114,292
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    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.




    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Nurse2047
    Nurse2047 Forumite Posts: 362
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    I was able to transfer a cash LISA to Dodl after the age of 40 
    Nurse striving for financial freedom
  • intalex
    intalex Forumite Posts: 759
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    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
    alco_pop Forumite Posts: 49
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    How have people found Dodl? I am looking to move my moneybox cash LISA to this.
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