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Tembo lowering my LISA rate to 3.55%
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when I opened my LISA, I didn't predict the government would […] allow penalty-free withdrawals during the pandemic which probably reduced a large number of LISA-holders
The temporary Covid concession was only to reduce the withdrawal penalty from 25% to 20%, i.e. it wasn't removed altogether, and it didn't make a huge difference to the number of penalised LISA withdrawals, and therefore the number of LISA holders, in the grand scheme of things:
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Anticipating worsening rates for Cash LISAs, along with uncertainty on whether LISA products would be offered to new customers who already have a LISA elsewhere, I opened an S&S LISA back in April. May consider moving some/all of my LISA money now to the S&S LISA. A bit annoying as I'm now looking into property, so the extra volatility is not ideal.
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It sounds like you already have a cash LISA, so surely you can simply continue to fund that if you wish to steer clear of volatility? Alternatively, you can transfer to the S&S one and invest in low-volatility products?
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