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  • FIRST POST
    • epm-84
    • By epm-84 23rd Feb 18, 6:57 PM
    • 1,373Posts
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    epm-84
    Transfers in the Skipton Lifetime ISA
    • #1
    • 23rd Feb 18, 6:57 PM
    Transfers in the Skipton Lifetime ISA 23rd Feb 18 at 6:57 PM
    I was wondering if anyone has requested a transfer of a Help2Buy ISA in to a Lifetime ISA and seen the funds arrive in their Lifetime ISA yet?

    I posted my application on the 6th, received a text confirmation that it's been received on the 9th and my Help2Buy ISA provider closed the account on the 15th. However, I'm still waiting for the funds to appear in my Lifetime ISA.
Page 1
    • Alexland
    • By Alexland 23rd Feb 18, 8:32 PM
    • 2,387 Posts
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    Alexland
    • #2
    • 23rd Feb 18, 8:32 PM
    • #2
    • 23rd Feb 18, 8:32 PM
    I would suspect Skipton have a lot of work on at the moment! The complexity of administering this product is one of the reasons for the poor interest rate. I guess they will be keen to see how many of these LISAs turn into mortgage applications as that's where the opportunity is for them.
    • epm-84
    • By epm-84 24th Feb 18, 11:03 AM
    • 1,373 Posts
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    epm-84
    • #3
    • 24th Feb 18, 11:03 AM
    • #3
    • 24th Feb 18, 11:03 AM
    I would suspect Skipton have a lot of work on at the moment! The complexity of administering this product is one of the reasons for the poor interest rate. I guess they will be keen to see how many of these LISAs turn into mortgage applications as that's where the opportunity is for them.
    Originally posted by Alexland
    Surely it'll depend how much people have in the Help2Buy ISAs they are transferring. Transferring one with a balance of £6,000 will be more beneficial to Skipton than transferring six with a balance of £1000.
    • Ashers92
    • By Ashers92 24th Feb 18, 11:10 AM
    • 84 Posts
    • 159 Thanks
    Ashers92
    • #4
    • 24th Feb 18, 11:10 AM
    • #4
    • 24th Feb 18, 11:10 AM
    Still waiting on mine.
    My Help to Buy ISA is still open at Halifax.
    Hoping all goes through okay. I imagine I won't know until after the March 1st cut off date.
    At which point if it doesn't happen for whatever reason, I'm screwed.

    I don't think the transfer application was as clear as it could have been if I'm honest.
    #157 - Save £12k in 2016: £12000 / £12000
    House deposit saving mode active: £21690 / £40000
    • Alexland
    • By Alexland 24th Feb 18, 12:52 PM
    • 2,387 Posts
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    Alexland
    • #5
    • 24th Feb 18, 12:52 PM
    • #5
    • 24th Feb 18, 12:52 PM
    Surely it'll depend how much people have in the Help2Buy ISAs they are transferring. Transferring one with a balance of £6,000 will be more beneficial to Skipton than transferring six with a balance of £1000.
    Originally posted by epm-84
    The cost of administering the LISA product will be so high they will struggle to make any return regardless of those with higher account balances. The opportunity for them is in converting them to become mortgage customers - that's where the big money is made.
    • Battersea174
    • By Battersea174 24th Feb 18, 1:14 PM
    • 6 Posts
    • 3 Thanks
    Battersea174
    • #6
    • 24th Feb 18, 1:14 PM
    • #6
    • 24th Feb 18, 1:14 PM
    Mine still hasn!!!8217;t gone across either and I have similar timeframes to you:
    Posted form to Skipton 5 Feb
    Nationwide received transfer request on 12 Feb
    Help to Buy account closed on 14 Feb
    I spoke to Skipton on 22 Feb and they confirmed they have received the cheque from Nationwide but to allow 5 days for them to process it
    • Alexland
    • By Alexland 24th Feb 18, 2:09 PM
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    Alexland
    • #7
    • 24th Feb 18, 2:09 PM
    • #7
    • 24th Feb 18, 2:09 PM
    Mine still hasn!!!8217;t gone across either and I have similar timeframes to you:
    Posted form to Skipton 5 Feb
    Nationwide received transfer request on 12 Feb
    Help to Buy account closed on 14 Feb
    I spoke to Skipton on 22 Feb and they confirmed they have received the cheque from Nationwide but to allow 5 days for them to process it
    Originally posted by Battersea174
    Tight but if they have the cheque then I expect you will be ok as Nationwide cheques are not made from rubber.

    Alex
    • Battersea174
    • By Battersea174 27th Feb 18, 12:22 PM
    • 6 Posts
    • 3 Thanks
    Battersea174
    • #8
    • 27th Feb 18, 12:22 PM
    • #8
    • 27th Feb 18, 12:22 PM
    Thank Alex, yes I was just being impatient!

    As a quick update, the money has appeared in my account today. Skipton said they’re processing the cheques received on the 22 Feb today so fingers crossed OP you’ll receive something soon if you haven’t already.
    • eddidaz
    • By eddidaz 27th Feb 18, 2:30 PM
    • 62 Posts
    • 5 Thanks
    eddidaz
    • #9
    • 27th Feb 18, 2:30 PM
    • #9
    • 27th Feb 18, 2:30 PM
    Submitted my request to Skipton today to bring in from Barclays, fingers crossed!
    • where are we
    • By where are we 28th Feb 18, 4:26 PM
    • 218 Posts
    • 59 Thanks
    where are we
    Prolonged HTBISA transfer to Skipton LISA
    My daughters partial Halifax HTBISA (balance at 5/4/17) transfer to her Skipton LISA opened last year, was initiated on 7/1/18 and has still not been completed today - comes up as "pending"! Patience is needed!
    • Wagas
    • By Wagas 28th Feb 18, 4:53 PM
    • 12 Posts
    • 5 Thanks
    Wagas
    My daughters partial Halifax HTBISA (balance at 5/4/17) transfer to her Skipton LISA opened last year, was initiated on 7/1/18 and has still not been completed today - comes up as "pending"! Patience is needed!
    Originally posted by where are we
    Is the money still showing in the Halifax account? My partial HTB transfer from Halifax was initiated at the end of Jan and took 15 days to appear in my Skipton account.
    • where are we
    • By where are we 28th Feb 18, 6:45 PM
    • 218 Posts
    • 59 Thanks
    where are we
    Full balance still in Halifax HTBISA. Maybe it`s time to contact Skipton.
    • Ed-1
    • By Ed-1 28th Feb 18, 9:30 PM
    • 2,200 Posts
    • 1,174 Thanks
    Ed-1
    Full balance still in Halifax HTBISA. Maybe it`s time to contact Skipton.
    Originally posted by where are we
    Have you posted the transfer authority form to Skipton?
    • Ed-1
    • By Ed-1 28th Feb 18, 9:54 PM
    • 2,200 Posts
    • 1,174 Thanks
    Ed-1
    Thank Alex, yes I was just being impatient!

    As a quick update, the money has appeared in my account today. Skipton said they!!!8217;re processing the cheques received on the 22 Feb today so fingers crossed OP you!!!8217;ll receive something soon if you haven!!!8217;t already.
    Originally posted by Battersea174
    Did you get texts from Skipton to e.g. confirm they have received the transfer form? What other texts do they send throughout the transfer process?
    • Battersea174
    • By Battersea174 1st Mar 18, 7:34 AM
    • 6 Posts
    • 3 Thanks
    Battersea174
    Did you get texts from Skipton to e.g. confirm they have received the transfer form? What other texts do they send throughout the transfer process?
    Originally posted by Ed-1
    I got 3 texts from Skipton: one to confirm they'd received the transfer request; another to say they were processing it; and then finally one to say it had been completed.
    • Ashers92
    • By Ashers92 7th Mar 18, 7:17 PM
    • 84 Posts
    • 159 Thanks
    Ashers92
    Is anyone still waiting for their transfer to complete?

    I sent my form in and had the text to say they received it on 22nd Feb. Another text on 24th Feb to say they are processing the request.
    My Halifax H2B account has been closed and no longer appears on my Internet Banking.

    And now Skipton has removed the ISA Transfer In page I can't check up the current status of my transfer.
    #157 - Save £12k in 2016: £12000 / £12000
    House deposit saving mode active: £21690 / £40000
    • Alexland
    • By Alexland 7th Mar 18, 7:34 PM
    • 2,387 Posts
    • 1,786 Thanks
    Alexland
    And now Skipton has removed the ISA Transfer In page I can't check up the current status of my transfer.
    Originally posted by Ashers92
    Oh dear sounds like a clumsy implementation to stop further transfers. Have you tried messaging them to ask how you are supposed to see your transfer progress?

    Alex.
    • Ashers92
    • By Ashers92 7th Mar 18, 7:57 PM
    • 84 Posts
    • 159 Thanks
    Ashers92
    Oh dear sounds like a clumsy implementation to stop further transfers. Have you tried messaging them to ask how you are supposed to see your transfer progress?

    Alex.
    Originally posted by Alexland
    Just been on their web chat.
    They were able to tell me current status, they have the cheque from Halifax, and they were even able to tell me the amount on the cheque. So now its just a matter of waiting for the cheque to process.

    Then there's the game of working out how much interest has been added and how much I need to pay in to make the most of this years £4k allowance.
    #157 - Save £12k in 2016: £12000 / £12000
    House deposit saving mode active: £21690 / £40000
    • epm-84
    • By epm-84 8th Mar 18, 10:34 AM
    • 1,373 Posts
    • 4,331 Thanks
    epm-84
    And now Skipton has removed the ISA Transfer In page I can't check up the current status of my transfer.
    Originally posted by Ashers92
    I found it didn't say anything useful anyway. In my account it just said something like 'processing' and claimed the balance being transferred was £0.01 from the date they received the form, until the date the actual balance appeared in my Skipton ISA.
    • Riff Raff
    • By Riff Raff 8th Mar 18, 11:35 AM
    • 18 Posts
    • 12 Thanks
    Riff Raff
    I was told on the phone back in January that the online part of the transfer process simply generates the paper form for you. They don't do anything until they get your form. My transfer status never changed.
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