Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • BA777
    • By BA777 9th Mar 18, 10:55 AM
    • 1Posts
    • 0Thanks
    Making the most of LISA
    • #1
    • 9th Mar 18, 10:55 AM
    Making the most of LISA 9th Mar 18 at 10:55 AM

    I started a LISA at the beginning of this 17-18 tax year with HL and have left it at 100 balance. I have since been contributing the maximum each month to my Help to Buy ISA which is now worth 3,500. My plan was to transfer the HL to the Skipton Cash version and then transfer in the Help to Buy but I've unfortunately missed the deadline.

    With that in mind, and an estimate of buying a house early next year, how should I move my money to make the most of it? I have 3,900 in another savings account available for use - should I put this into the HL LISA?

    Thanks for your help with my question and any ideas/suggestions are appreciated!
Page 1
    • eskbanker
    • By eskbanker 9th Mar 18, 1:58 PM
    • 7,086 Posts
    • 7,505 Thanks
    • #2
    • 9th Mar 18, 1:58 PM
    • #2
    • 9th Mar 18, 1:58 PM
    1. Top the HL LISA up to 4K before 5 April with your 3.9K other savings.
    2. Transfer the HL LISA to a Skipton once that's been done.
    3. Keep paying in to your HTB until late 2018, for the (presumably better) interest rate.
    4. Transfer 4K from HTB to the LISA in time to get the 25% bonus before your property purchase.
    5. Close both accounts when ready to buy.
    This gets you 25% bonus on the largest amount possible (8K) and optimises your interest....
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,083Posts Today

5,801Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin