Lifetime ISAs guide

deutsch · 10 March 2018 at 1:13AM

Going from Halifax HTB to AJ Bell LISA.
Forms sent 27th Feb in post.
Acknowledgement received from AJ Bell 1st March.
Hopefully AJ Bell can make contact with Halifax and there are no delays. I would be gutted if I don't get the extra £1000+ from the government for 2016/17's HTB transfer in LISA.
Anyone actually done a transfer from HTB to a LISA and confirm how long it takes?

GM1880 · 12 March 2018 at 11:07AM

Given a little additional interest paid on what I had in my HTB ISA before I transferred to Skipton which meant the additional transfer I made to take it up to £4000 has taken the total to about £4010. Will this cause issues given i!!!8217;m Over the maximum limit? Should I just transfer the surplus back out?

eddiejones · 12 March 2018 at 12:37PM

GM1880 wrote: »

Given a little additional interest paid on what I had in my HTB ISA before I transferred to Skipton which meant the additional transfer I made to take it up to £4000 has taken the total to about £4010. Will this cause issues given i!!!8217;m Over the maximum limit? Should I just transfer the surplus back out?

Skipton are very good at replying to 'Secure message's online, or helping over the phone. So you could ask them if you have gone over the limit. Tbh, they don't seem to be taking interest into account in quite a lot of cases (maybe correctly, maybe incorrectly I don't know)

Nevertheless, I asked a similar question myself and got the following answer

"If you end up over-subscribing to your Lifetime ISA account you will be reimbursed the amount you have over subscribed by"

credit_crunch · 12 March 2018 at 12:59PM

Hi all
Apologies if its been asked before but I'm struggling to find clarification.

I owned a property previously but it was repossessed when I went bankrupt in 2015.

Are there any benefits to getting a help to buy ISA or LISA is there a better alternative?

I would hope to be in a position to buy a property in 3-5 years time.

Thanks in advance

Alexland · 12 March 2018 at 1:33PM

If you have previously owned property you are not allowed to open an HTB ISA or use a LISA in a property purchase. You can however use a LISA as part of your retirement planning.

credit_crunch · 12 March 2018 at 3:37PM

Alexland wrote: »

If you have previously owned property you are not allowed to open an HTB ISA or use a LISA in a property purchase. You can however use a LISA as part of your retirement planning.

Thanks for clarifying, that's what I thought.

candiceweymouth · 13 March 2018 at 9:45AM

What the most recommended LISA Account to open?

eskbanker · 13 March 2018 at 9:56AM

candiceweymouth wrote: »

What the most recommended LISA Account to open?

That's a bit of a 'how long is a piece of string' question but you could do a lot worse than reading the MSE LISA article and in particular its summary of the market at https://www.moneysavingexpert.com/savings/lifetime-ISAs#bestbuys.

However, if you plan to buy a first property within the next few years, chances are you'll be better staying in cash rather than stocks & shares investment, so that effectively narrows the field down to a choice of one, namely the Skipton Building Society....

candiceweymouth · 13 March 2018 at 10:18AM

Ok thank you. I have read so many articles, but because many of the mainstream banks don't offer lifetime isa's yet I'm unsure on what other society to open with.

Have seen the threads on Skipton in here so maybe I will open with them

Thanks

dfbefore30 · 14 March 2018 at 1:30PM

I'm a bit confused about my Lifetime Isa.

In June, I opened a LISA with Skipton. I then transferred in my help to buy Isa and about 2500 from a previous Isa. I assumed the money from my second isa would count towards my 4000 for the bonus.

I recently rang Skipton to check how much more I could put in before the end of the tax year (I thought I'd maxed it out but just wanted to check). I was told I could put in another 2500 and that the money from my previous isa didn't count. I've now topped it up with an additional 2500.

Can anyone confirm whether the bonus will be paid for the 4000 only, plus my previous htb balance, or whether I will also get a bonus for the previous isa balance?

Lifetime ISAs guide

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