Are life ISAs transferable?

[crofty1984]

I'm about to turn 40 and trying to get my st together financially (about 20 years too late!). Can you change L I've ISA supplier with no penalty? I'm aware you can't get them after 40 so was thinking about setting one up now with whatever provider is the minimum cost and deposit amount, so I'll not lose it as an option once the big four-oh rolls around.

[PaulWoof]

yes but not all providers accept transfers in so you need to check them individually.

Lisas can be transferred just as normal ISA's but becuase of the limited providers there is some funky business going on and not much desire for competition.

moneybox for instance accept transfers in but not if you have already had a Lisa with them before. So you cant bounce around looking for best rates etc.
some will accept cash lisa transfer but not s&s transfers and vice versa

[VR99]

Op I can't answer your question but something else to consider with LISA's is what will you actually use it for and based on that the type of LISA you want e.g: cash Vs S&S Lisa and therefore the platform choice.

I had a cash LISA to start with and the intention was to use it for a property deposit but circumstances changed and it's likely will just use it to complement my retirement provision at age 60 so....I transferred to another provider ( AJ BELL) and have invested the whole lot. I don't add to it now as my work pension is more beneficial to prioritise for various reasons but hopefully it will grow nicely over the nearly 20 years before I can access.