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Transfer to a Lifetime ISA hero

Transfer to a Lifetime ISA

Cashback Available now when you transfer
Terms apply

Transfer an existing ISA to the HL Lifetime ISA

Transfer now

Why choose a Lifetime ISA?

If you’re saving to buy your first home or retirement, investing in a Lifetime ISA could help you reach your goals.

Thinking about transferring a Help to Buy ISA? You can contribute more to a Lifetime ISA than a Help to Buy ISA, meaning you could get a larger government bonus. Lifetime ISAs also offer more options for how and when you use the money.

The Lifetime ISA in 90 seconds

Compare Lifetime and Help to Buy ISAs

If you're saving to buy your first home, there are two different ISAs that could help - so which is better?

  • Who can open one?

    Lifetime ISA

    18-39 year olds

    Help to Buy ISA

    First-time buyers over 16

  • Can I put in one-off amounts?

    Lifetime ISA

    Yes

    Help to Buy ISA

    You can add up to £200 per month, with an extra £1,000 in the first month

  • What's the maximum government bonus?

    Lifetime ISA

    Up to £1,000 (or 25% of your contribution) each tax year. You can also earn a bonus on a single transfer from a Help to Buy ISA to a Lifetime ISA in the 2017/18 tax year (see below).

    Help to Buy ISA

    Up to £3,000 (or 25% of your contribution) in total

  • When is the government bonus added?

    Lifetime ISA

    Monthly

    Help to Buy ISA

    Between exchange and completion when buying your first home

  • Can I earn interest on, or invest the government bonus?

    Lifetime ISA

    Yes – you can invest or earn interest on the government bonus as soon as it’s paid into your Lifetime ISA

    Help to Buy ISA

    No – the bonus is paid to your conveyancer when you buy your first home

  • When can I use the money to buy a house?

    Lifetime ISA

    Anytime after you’ve had your Lifetime ISA for a year, otherwise there’s a 25% charge. This doesn’t count for withdrawals in the 2017/18 tax year, where you won’t have to pay the government withdrawal charge, but you also won’t get a bonus.

    Help to Buy ISA

    After you’ve saved £1,600

  • What’s the maximum house price allowed?

    Lifetime ISA

    £450,000

    Help to Buy ISA

    £250,000 (£450,000 in London)

  • Can I use the money for anything besides buying my first home?

    Lifetime ISA

    You can take your money out tax free after you turn 60. Earlier withdrawals (which aren’t for an eligible house purchase ) usually incur a 25% government charge. This doesn’t count for withdrawals in the 2017/18 tax year, where you won’t have to pay the government withdrawal charge, but you also won’t get a bonus.

    Help to Buy ISA

    You can take your money out at any time but won’t receive the government bonus on the money you withdraw.

  • Can I use the account to invest in the stock market?

    Lifetime ISA

    Yes – you can hold cash or invest

    Help to Buy ISA

    No – you can only hold cash in a Help to Buy ISA

  • How much can I put in each tax year?

    Lifetime ISA

    Up to £4,000 until you turn 50

    Help to Buy ISA

    Up to £2,400 (£3,400 in the first year)

Lifetime ISA Help to Buy ISA
Who can open one? 18-39 year olds First-time buyers over 16
Can I put in one-off amounts? Yes No – monthly payments only (max of £200/ month), with an extra £1,000 in the first month
How much is the government bonus? 25% 25%
What is the maximum government bonus? Up to £1,000 each tax year until you turn 50 Up to £3,000 in total
When is the government bonus added? Monthly On completion of buying your first home
Can I earn interest on, or invest the government bonus? Yes – you can invest or earn interest on the government bonus as soon as it’s paid into your Lifetime ISA No – the bonus is paid to your conveyancer when you buy your first home
When can I use the money to buy a house? Anytime after you’ve had your Lifetime ISA for a year, otherwise there’s a 25% charge, so you could get back less than you put in** After you’ve saved £1,600
What’s the maximum house price allowed? £450,000 £250,000 (£450,000 in London)
Can I use the money for anything besides buying my first home? You can take your money out tax free after you turn 60. Earlier withdrawals (which aren’t for an eligible house purchase ) usually incur a 25% government charge, so you could get back less than you put in You can take your money out at any time but won’t receive the government bonus on the money you withdraw.
Can I use the account to invest in the stock market? Yes – you can hold cash or invest No – you can only hold cash in a Help to Buy ISA
How much can I put in each tax year? Up to £4,000 until you turn 50 Up to £2,400 (£3,400 in the first year)

Receive £20 to £500 cashback

Transfer ISAs, pensions, funds or shares worth £5,000 or more to HL and we’ll give you between £20 - £500. The money is a thank you from us. It won’t come from your account or investments.

The more you transfer, the more you receive. Terms apply.

To automatically qualify you must apply by 17 December 2018. Need more time to decide? Let us know and we'll give you up to an extra three months to transfer ISAs, funds and shares, and six months for pension transfers.

You will receive your cashback after the offer closes and all your transfers complete. The money will be paid into your HL loyalty bonus account. To keep the cashback, all we ask is that you keep your account with us for at least a year.

ISA to Lifetime ISA transfers will count towards the total value of your transfers during the offer period. Find out more about the Lifetime ISA allowance.

You transfer We pay you
£5,000 - £24,999 £20
£25,000 - £49,999 £50
£50,000 - £99,999 £100
£100,000 - £149,999 £250
£150,000 or more £500

Transferring to a Lifetime ISA

Whether you're transferring from a Help to Buy ISA, or another type of ISA, here's what you need to know before you get started.

Transferring ISAs to a Lifetime ISA

You can transfer up to £4,000 from another ISA to a Lifetime ISA each tax year. You’ll get the 25% government bonus on the amount you transfer, up to £1,000.

If you want to use the Lifetime ISA to buy a home, just remember that if you do that in the first year of having your Lifetime ISA, you will have to pay the 25% government withdrawal charge.

Your ISA allowance

Transferring counts towards your Lifetime ISA allowance, but not your overall ISA allowance. You can transfer ISAs from previous tax years, but only up to the £4,000 allowance.

If you’re transferring ISAs from this tax year, you’ll need to transfer all the money you’ve put in so far. If this goes over your available Lifetime ISA allowance then you won't be able to transfer this tax year.

What happens to your investments

Your ISA will be transferred as cash. This means you’ll be out of the market during the transfer. Your money will be stable if the market falls, but if it rises you won't benefit.

Once the money is in your Lifetime ISA, you can choose how you'd like to invest.

Transfer to the HL Lifetime ISA

You can transfer existing ISAs to a Lifetime ISA, including Help to Buy ISAs.

If you decide to invest after you transfer, just remember that investments aren't as secure as cash. They can go down as well as up in value so you could get back less than you put in.

Once you've decided you'd like to transfer to a Lifetime ISA, it takes just a few minutes to get started online.

Transfer now

Terms of the cashback offer - Autumn 2018

1. You’ll receive a cash amount between £20 and £500, depending on the amount you transfer, when you transfer to us at least £5,000 worth of an existing pension, ISA (excluding Junior ISAs and Child Trust Funds) or funds and shares into our HL SIPP, Stocks and Shares ISA, Lifetime ISA or Fund and Share Account from another provider, subject to these terms and conditions. Please be aware the following exclusions apply to this offer: (1) the lodgement of certificated shares will not qualify for the offer; (2) new money cash subscriptions into any HL account won’t qualify for the offer; (3) if the HL SIPP is your current workplace pension and you transfer previous pensions provided by your current employer, then the offer isn’t available for these transfers; (4) defined benefit/final salary pension transfers don’t qualify for the offer.

2. The offer doesn’t apply to investments already held in the HL service, or to switches or transfers between or within existing HL accounts or to income and interest received on any assets held in those accounts.

3. The offer is funded by Hargreaves Lansdown’s money. Don’t worry, the cash is not coming from your pension or investments. We intend to make the offer available until 17 December 2018. However, we reserve the right to remove or suspend this offer if necessary, including for legal or regulatory reasons or otherwise, by posting a notice on our website. If the offer closes early, all qualifying applications received up until this time will still be accepted.

4. The offer will only apply to cashback transfer forms coded TRV9K, TRV9L TRV9M, TRV9N, TRV9O, TRV9P, TRV9Q, OTK, OTMQ9, ITCB1, OTS, OTP, OTD, AWSS1, and AWSS2 received by us between 8 October 2018 and 17 December 2018. The application code should be found in the top right of a form. If transferring a pension for drawdown, you must include a note requesting cashback with your application to qualify. As long as we receive your transfer form within the offer period, even if the transfer itself isn’t completed until after the offer closes, you‘ll still qualify. If you need more time to decide whether you want to transfer to us, please let us know and we’ll extend this deadline for you (by up to three months for ISA, fund and share transfers, and six months for pension transfers). To request more time simply call our Helpdesk on 0117 900 9000 or email transferoffer@hl.co.uk with your full name and address.

5. The cashback payment will be paid into your Loyalty Bonus Account after the offer has closed and within 1 month of completing your transfer, which will be determined by us. The Loyalty Bonus Account is separate from the HL ISA, Fund and Share Account, and SIPP. The cash can be kept in the Loyalty Bonus Account for fee collection, withdrawn or moved into whichever HL account you choose. If moved into an ISA or SIPP, it’ll count towards your annual allowance.

6. The value of your cashback will be based on the total value of transfers you make within the offer period (ISAs, funds, shares and pensions), not the value of each transfer. The values will be determined on the day we receive the proceeds for each. It isn’t possible to combine the value of transfers into accounts with different client numbers for the purpose of this offer. The maximum amount of cashback you can receive under this offer is £500.

7. We ask you keep your HL account(s) for one year. Please feel free to switch between investments and in or out of cash within your account, but if you decide to transfer away or close your account within 12 months of the date your transfer completes, then we reserve the right to reclaim the cashback paid. If cash is to be reclaimed then you’ll be notified and the cash will be taken within 7 days of the account closure or transfer.

8. We also reserve the right to determine how the cash offer is calculated. Therefore, if you’re unsure how your transfers will be treated under the terms of this offer, please contact us before you return your transfer form. By submitting a qualifying application, you agree to be bound by the terms of this offer. The terms are governed by the laws of England and subject to the exclusive jurisdiction of the English courts.

9. The offer can’t be used in conjunction with any other transfer offer.