Lifetime ISAs guide
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It makes it abundantly clear that you can't do that, as you wouldn't be a first time buyer for the second property.0
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kacielmorgan wrote: »I'm just in the process of setting up a private pension and now I'm beginning to wonder whether I'd be better off going for one of these accounts instead. Thoughts?0
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So having recently received last year's bonuses we go to contribute new money into our LISAs for this year to find HL have incorrectly recorded the transferred 2017 contributions as occuring this tax year so no further contributions are allowed. Another message sent.
It's now Friday afternoon and HL haven't replied to my message from Monday morning so sent a new message to chase. If they want to seriously compete in the poor service market it would be good if they implemented the TopCashBack 'nudge' button.
Alex.0 -
So thanks to advice on this forum I have now transferred my cash LISA to a stocks and shares LISA with AJBell. I wish I hadn't, because their website is so unintuitive and there is absolutely no advice for new customers how they go about choosing funds. My bad for not doing the research beforehand, but I know nothing about shares or funds etc, I assumed it was a managed fund. Whole load of hassle to get it transferred and now I don't know where to even start!0
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belfast_gal wrote: »So thanks to advice on this forum I have now transferred my cash LISA to a stocks and shares LISA with AJBell. I wish I hadn't, because their website is so unintuitive and there is absolutely no advice for new customers how they go about choosing funds. My bad for not doing the research beforehand, but I know nothing about shares or funds etc, I assumed it was a managed fund. Whole load of hassle to get it transferred and now I don't know where to even start!
Ok having made this transfer then I assume you are planning to invest for 20+ years so you might want to consider the low cost Vanguard LifeStrategy 80 or HSBC Global Strategy Dynamic funds. Alternatively you might wish to consider the less volatile Vanguard LifeStrategy 60 or HSBC Global Strategy Balanced funds. If unsure then I suggest going for a lower risk one for now and then doing more research and reflection.
You can get both funds on AJ Bell but here are the fund manager websites for more info:
https://www.vanguardinvestor.co.uk/investing-explained/what-are-lifestrategy-funds
https://www.assetmanagement.hsbc.co.uk/en/intermediary/investment-expertise/multi-asset/hsbc-global-strategy-portfolios
Remember to keep enough cash in the account to pay the AJ Bell platform fees.
Alex0 -
Many thanks Alexland, I will look into both of those!
Yes I'm saving for retirement so 20+ years (unfortunately - unless that EuroMillions ticket comes in!).0 -
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Can anyone confirm do you get the government bonus on the interest if you have a Cash LISA?0
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If you meet the rest of the LISA's T&C, then yes. Why wouldn't you?
I've not yet received a bonus on my interest paid in to my Skipton LISA in early June which is why I'm asking. You can pay up to £4000 in to a Lifetime ISA per year (not including interest) but can't get more than £1000 in bonuses per year, which doesn't make it crystal clear.0
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