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Lifetime ISA Skipton
hayleylw
Posts: 1 Newbie
Hi
Both myself and my husband have a lifetime ISA at Skipton. We are looking to use it to buy a house however mine has been open a month longer than my husbands. I was under the impression that you could transfer it to the one who's has been open the longest? Skipton have said this is not the case you would incur the 25% deduction charge. Does anyone have any further clarification? Many thanks
Both myself and my husband have a lifetime ISA at Skipton. We are looking to use it to buy a house however mine has been open a month longer than my husbands. I was under the impression that you could transfer it to the one who's has been open the longest? Skipton have said this is not the case you would incur the 25% deduction charge. Does anyone have any further clarification? Many thanks
0
Comments
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The I in ISA is 'individual' - it's never been possible to transfer ISAs between (living) people.
An individual can transfer an old LISA to a newer one of their own while retaining the earlier start date though.
So, to use a rarely-seen expression on here, Skipton are right....0
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