We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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?
0
Comments
-
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.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards