What to do with LISA after house purchase?

Yorkie006

Greetings,

had a LISA account for several year. Completed a house purchase couple of years ago.

Made the last £4000 payment but house purchase completed before the government bonus was paid. So I have £1000 (+ interest) sitting in an account I have no use for.

What would you do with the LISA now? Can't take the money out without losing 25% of it. Have no intention of making further contributions.

Do I bite the bullet and take the money out or keep it as is until I'm old enough to take it out for retirement (decades in the future)? It's earning meagre interest because I already used all the good 'new customer' options (Plum, Chip, Moneybox etc) in the past. There's very little choice now and the % rates are a lot lower than for normal saving accounts. I suspect the choice will be even more limited once the new First time buyer ISA launches in 2028.

Thanks for advice.

eskbanker

If you have decades to go until you're 60 then transfer it into a S&S LISA and get it invested rather than leaving it languishing in cash savings form…