Skipton Screwed Up LISA transfer

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My wife and I both submitted applications to transfer our respective Help to Buy ISAs from Halifax to Skipton LISAs. Skipton confirmed receipt in time for their deadline, but then made mistakes with both our transfers and they were declined by Halifax.

When we were notified the transfer had been rejected, we each contacted Skipton the following day to sort the issue out and were each told the transfer would be resubmitted. Mine then went through without any further problem.

My wife heard nothing however, so she tried to chase Skipton. Several lengthy waits to their call centre ensued, with them providing misinformation, and not fulfilling promises to investigate and call back. Eventually my wife called Halifax (no problems getting through) who told her they had not received a resubmitted transfer request, nor any other communication from Skipton since the original incorrect request.

She's now raised a formal complaint, which took three attempts as they the first time they told her they would call back with a complaint reference number, which unsurprisingly never happened. The second time we completed their web form, which wasn't acknowledged. Finally my wife spoke to someone who raised the complaint, but they wouldn't give any further comment other than they expect it to take four to eight weeks to deal with as it's "complex".

My concern is we're now into May, so far past the transfer deadline that bonuses have been credited to accounts. Is there any way they can now actually resolve this now, or have they missed the boat with HMRC? I can't imagine Skipton would be keen to pay out a four figure sum if not, so we'd have to look at involving the ombusdman or taking them to court (or both).

Comments

  • Alexland
    Alexland Posts: 9,653 Forumite
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    Well you would want your complaint to be looked at by someone more senior so it would take some time for them to consider your case and provide a response. If you are unhappy with the response the provide then yes you can escalate your case.
  • stevenhp1987
    stevenhp1987 Posts: 907 Forumite
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    If they didn't resubmit it when they said they would; I would expect that they would pay the bonus themselves...

    That's certainly what I would demand - plus the cost of calls etc. You should also ensure that if they pay the 'bonus' (compensation now as it cannot be a bonus anymore) into the LISA, that it doesn't count as a payment towards this years allowance!

    However, if they will or not... it's going to be a four figure sum so I'd expect you'll need to eventually get the FOS involved if they don't play ball.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    edited 6 May 2018 at 12:40PM
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    If they did pay compensation into the LISA it would count as a contribution so would get a bonus. Makes no difference from paying your own money in.

    Still it's too early to discuss how any compensation would be paid. The first thing is they need to consider the complaint and evidence and determine if they agree they were at fault and talk to HMRC to see if the LISA situation can be repaired.

    A.
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