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  • FIRST POST
    • Mudweiser
    • By Mudweiser 10th Jan 18, 5:09 PM
    • 1Posts
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    Mudweiser
    Lifetime ISA to other ISA question
    • #1
    • 10th Jan 18, 5:09 PM
    Lifetime ISA to other ISA question 10th Jan 18 at 5:09 PM
    Hello all,

    I have a question which I havenít found answered anywhere else on the site or here, so I turn to you good people to see if you can help;

    I opened a Lifetime ISA last July with the intention of buying later this year, and enjoying the bonus, however my circumstances have changed and Iím now looking to buy much sooner Ė even before the full year of having the LISA.

    I do have another ISA with another bank but itís empty Ė can I transfer the LISA money Iíve saved into my other ISA without penalty? I believe the penalty is just for withdrawing the money from the LISA?

    Thanks in advance!
Page 1
    • Ed-1
    • By Ed-1 10th Jan 18, 5:24 PM
    • 2,229 Posts
    • 1,186 Thanks
    Ed-1
    • #2
    • 10th Jan 18, 5:24 PM
    • #2
    • 10th Jan 18, 5:24 PM
    Hello all,

    I have a question which I havenít found answered anywhere else on the site or here, so I turn to you good people to see if you can help;

    I opened a Lifetime ISA last July with the intention of buying later this year, and enjoying the bonus, however my circumstances have changed and Iím now looking to buy much sooner Ė even before the full year of having the LISA.

    I do have another ISA with another bank but itís empty Ė can I transfer the LISA money Iíve saved into my other ISA without penalty? I believe the penalty is just for withdrawing the money from the LISA?

    Thanks in advance!
    Originally posted by Mudweiser
    Transferring out of a LISA to an account that is not a LISA is the same as withdrawing for the purposes of the 25% charge.

    However, the charge doesn't apply if you withdraw before 6th April 2018 as no bonuses are being paid until after that.
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