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Multiple LISAs & the 12 months withdrawal rule.
bon_go
Posts: 1 Newbie
Something that I cannot find confirmation on is the following scenario -
LISA #1 - S&S Lisa - over 12 months old.
LISA #2 - Cash Lisa - under 12 months old.
Would you be able to transfer from LISA #2 into the mature LISA #1, and be able to use the full combined amount, without the 12-month withdrawal penalty for a house purchase within 12-months?
Or does the LISA #2 money transfer-in 12-month date, overwrite the LISA #1 age?
LISA #1 - S&S Lisa - over 12 months old.
LISA #2 - Cash Lisa - under 12 months old.
Would you be able to transfer from LISA #2 into the mature LISA #1, and be able to use the full combined amount, without the 12-month withdrawal penalty for a house purchase within 12-months?
Or does the LISA #2 money transfer-in 12-month date, overwrite the LISA #1 age?
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Comments
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LISA #1 will retain its start date. Even if you transferred LISA #1 into LISA #2, I believe LISA #1's start date would overwrite LISA #2, being the earlier of the two.
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