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There’s been huge publicity around the additional bonus fund for Help to Buy ISA savers who make the switch to the Lifetime ISA but what are the other reasons to switch – and are there any times you should stick with Help to Buy?
This guide unravels the rules to help you decide including:
Plus; a worked example showing exactly how transferring can leave savers thousands better off.
This factsheet is not personal advice. If you are unsure of the suitability of an investment for your circumstances seek advice. The value of investments can fall as well as rise so you could get back less than you invest. Tax rules can change and the value of any benefits depends on individual circumstances. Money in a Lifetime ISA can be withdrawn tax-free to purchase a first home or from age 60. Other withdrawals will usually be subject to a 25% government withdrawal charge.