HL S&S ISA switch to Virgin Fixed Cash ISA

P1Fanatic

I have around £16k in a HL S&S ISA (as well as HL S&S Lifetime ISA) and with recent poor performance and the jump in Cash ISA Rates I am tempted to just transfer the regular S&S ISA balance to the Virgin Fixed Rate Cash ISA for 1yr (I have no other Cash ISAs). I have never done this before but presume I just sell my funds back into Cash balance on my S&S. Then open the Cash ISA and request a transfer in?

Also I know that normally for Fixed you cant add more funds later. But presumably on the initial setup I can also add up to my annual ISA limit (so say another £16k from outside an ISA as £4k paid into LISA already) on top of the transfer?

dunstonh

 and with recent poor performance

What is your definition of recent?  Whilst 2022 was a negative year with October 2022 being the low point, 2023 is a positive year to date.     

 I have never done this before but presume I just sell my funds back into Cash balance on my S&S. Then open the Cash ISA and request a transfer in?

yes

P1Fanatic

dunstonh said:

 and with recent poor performance

What is your definition of recent?  Whilst 2022 was a negative year with October 2022 being the low point, 2023 is a positive year to date.     

 I have never done this before but presume I just sell my funds back into Cash balance on my S&S. Then open the Cash ISA and request a transfer in?

yes

Recent was probably a poor choice of worlds. Overall would be more accurate as its almost 2 yrs since I opened this S&S ISA. Hard to tell in HL app since moving funds around but probably under 2% growth in that time period (VLS80 and VT AJB Adventurous). I think someone is listening as ever since I posted this question its dropped daily and sat at -0.6% now so has put me off moving it to a Cash ISA and crystallizing those losses.

Thanks for confirming re: transfer of S&S to Cash process.