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  • FIRST POST
    • Killerladybirds
    • By Killerladybirds 5th Jul 18, 11:08 AM
    • 6Posts
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    Killerladybirds
    LISA advice!
    • #1
    • 5th Jul 18, 11:08 AM
    LISA advice! 5th Jul 18 at 11:08 AM
    Hi everyone! Hopefully someone can offer advice on this!

    I am looking to open a cash LISA very soon, as Skipton is the only one available at present I am looking at opening one up with them. My only concern is if I open that up and then a month later a brand new LISA appears with a much better interest rate, am I able to switch to it?

    I am concerned because the Skipton site says ‘You can only open one lifetime ISA a year’
Page 1
    • eskbanker
    • By eskbanker 5th Jul 18, 11:22 AM
    • 7,514 Posts
    • 8,144 Thanks
    eskbanker
    • #2
    • 5th Jul 18, 11:22 AM
    • #2
    • 5th Jul 18, 11:22 AM
    Skipton's wording is too generalised - you can open another provided that you transfer from old to new (using the new provider's transfer process) so that all current year contributions are kept together (I think it might actually be all contributions for cash LISAs).

    Nottingham Building Society are apparently going to be second to the cash LISA market but no word yet on interest rate or if they'll allow inbound transfers (they might not, some (S&S) LISA providers don't)....
    • ColdIron
    • By ColdIron 5th Jul 18, 11:26 AM
    • 4,331 Posts
    • 5,499 Thanks
    ColdIron
    • #3
    • 5th Jul 18, 11:26 AM
    • #3
    • 5th Jul 18, 11:26 AM
    Nottingham Building Society have announced that they will be offering a cash LISA this summer (branch only initially) but I wouldn't hold out much hope for a huge interest rate improvement, the real benefit is the 25% bung from HMRC
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