39yo with LISA, options for next tax year

megpew

I opened my first LISA, a cash LISA with Moneybox, this year. With intention to by my first home in the next couple of years.
I'm a bit confused about transferring them.
My Moneybox LISA interest rate will fall down to 3.5% in November 2024, so I'll want to transfer/start a new cash LISA. Reading about LISAs, this seems fine - I'll be over 40 but transfer for better rates is accepted.

I can continue to pay into the Moneybox LISA until November, and then into a new cash LISA after that? Despite being over 40. And keep paying, in theory, until I'm 50 (yes?!)
When I read online, I can't open a new LISA after 40 - but why would I want a second? 
Any advice appreciated

thanks

masonic

Some providers have been unable to offer LISAs, even for transfers, to those over 40 due to limitations of their application process, although this mainly affected S&S LISAs and is being addressed. The market is quite small, even for cash LISAs, so there are limited options for transfers. If you are planning to buy in the next couple of years then this shouldn't be of any great concern. If you plan to use a LISA for retirement beyond that, then it would be advisable to use a S&S LISA, given the near 20 year investment horizon and tendency for cash to devalue due to inflation.