Move Help to buy ISA to another ISA

slenderkitten

I am considering moving my £8k help to buy ISA to another cash ISA product the interest rate is only 2.60% with Halifax, I'm sick of the crap interest rate, yes I now i would lose out on the government bonus but would mean i can save as much as i want elsewhere.  I'm over 40 so no, LISA are not relevant.

Any thoughts?

masonic

Have you considered a Lifetime ISA?

slenderkitten

masonic said:

Have you considered a Lifetime ISA?

no because i'm over 40 and not eligible, people assume too much that you are chatting with young people lol

slenderkitten

i have a couple of other isa but my main one is Shawbrook as i got a fixed rate, i can't move that until next tax year they allow you to fund one isa product per year.  Could i withdraw Help to buy to a non-isa product then put it in to my Shawbrook isa?

eskbanker

slenderkitten said:

i have a couple of other isa but my main one is Shawbrook as i got a fixed rate, i can't move that until next tax year they allow you to fund one isa product per year.  Could i withdraw Help to buy to a non-isa product then put it in to my Shawbrook isa?

Yes, provided that (a) the product still allows contributions and (b) you have enough left of your annual £20K ISA allowance to pay it in as new money.  Or if the product allows transfers then you could cut out the middle man....

masonic

slenderkitten said:

masonic said:

Have you considered a Lifetime ISA?

no because i'm over 40 and not eligible, people assume too much that you are chatting with young people lol

I remember the days when people would take that as a compliment