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Trevor
Software Engineer
Asked a question 5 months ago

Last year, almost everyone I know advised me to open a Help to buy ISA. So, I did. But now it looks like the Lifetime ISA is a more superior product to the help to buy in terms of the bonus offered by the government. What are your thoughts on switching? Has anybody had an experience switching?

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Hey @Trevor24, if after you've weighed both options and the LISA is your preferred choice you can easily make the transfer. You have to have the LISA for one full year before getting the bonus s if you're not planning on buying a house in the next year you'll be fine.

If you have less than £4k in your current HTB ISA then this will be very easy to do as the LISA limit is £4k per tax year. When you open the LISA you'll be asked if you're doing an ISA transfer, choose yes then you'll be asked your HTB ISA details and they handle the rest.