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Partner has same ISA but more interest accrued in less time!

My partner and I opened Life time ISAs in 2017 with the same building society, I opened mine a month or two before he did
We both paid in the maximun £4000

In 2018 I added another £4000 to mine but he didnt
We both recived the govenment top up for each year we paid in. Him for 2017 and me for 2017 and 2018

We are now about to buy our first house
My current balance is £10,031,47
His balance is £5,039.94

How on earth has he gained more interest than I have when I have more in my account and it has been open for longer? Does anyone have any experience with this?


  • eskbankereskbanker Forumite
    23.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You'd need to examine and reconcile the statements, which should be fairly straightforward if there are only a very small number of transactions on each.

    From memory, the Skipton LISA was launched in June 2017 at 0.5%, but the interest rate has risen since then, so the only thing I can think of is that more of his first year interest was earned at a higher average rate because of the staggered dates of initial funding, and that when the second interest payments are made you'll receive significantly more than him.
  • AlexlandAlexland Forumite
    9.5K Posts
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    Yes if this was a building society LISA in 2017 then it must have been Skipton who calculate interest based on the prevailing rate and balance each day. From what you have described (assuming you each made a full contribution upon opening the accounts) then I agree you would expect to have gained more interest over the period. Have you tried calling them (with you both present) to ask them to explain the difference? The most likely reason is that you have recalled the contribution dates/values incorrectly.
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