Open New Cash ISA and Transfer from and close old Help to Buy ISA

adamnew
adamnew Connected
edited April 2025 in Money and bills

Hello. Is it possible to Transfer In from an old Help to Buy ISA into a new Cash ISA?

The reason I ask is because when trying to transfer in, there is a question asking "Which type of ISA do you want to transfer from?" With the below options only:

Cash ISA – complete section a
Stocks and shares ISA – complete section b
Innovative finance ISA – complete section c
Lifetime ISA – complete section d

In this example should I try contact the bank directly to get confirmation or does anyone who has done this before remember what they did? Thanks.

Comments

  • OverlyAnxious
    OverlyAnxious Championing

    Hi,

    I moved mine into a normal savings account as I don't need the tax benefits of an ISA, so not quite the same situation.

    As the Help To Buy ISA has been obsolete for a few years now, I would try putting it down as a Lifetime ISA from those options. That is the current equivalent. Though if you can contact the bank to ask, that's probably the best option.

    Don't forget you'll lose the 25% government top-up by moving to a normal ISA if you are still intending to buy a property in future.

  • adamnew
    adamnew Connected

    Thanks for your reply. The £3k bonus would be a great help, but It’s not looking promising that I can buy a home, so I thought consolidate the two ISAs into just one which has a high return.

    I’m now reconsidering though. I’ll go and give it more thought. Thanks.

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