Has anyone had experience with the Newcastle Building Society Cash LISA? Slightly the better interest rate at 1.1% but what is their online portal/app like? That is going to be a big selling point with me in terms of the comparison with LISA’s and mainly Skipton vs NBS.
I’d be amazed if it was any worse than Skipton’s online portal.
NBS have an app but it’s littered with 1* reviews…
Skiptons website is very poor!
Luckily I just use the bank transfer option now so I dont have to use it all too often.
How does transferring a LISA impact the pending government bonuses? Anyone done this yet?
If anyone wants to sign up the the Nutmeg Lisa let me know. I have a code for 6 months no fees
Good to see fintechs leading the way with this market-leading Lifetime Cash ISA.
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Saying as Oaknorth already have a relationship with Monzo this would be excellent to see.
In saying that I wouldnt take a 1.25% (down form 1.4% offered here) offering from Monzo to provide this to me in-app
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It’s a better rate and is sitting at the top of MoneySavingExpert’s LISA list now. Provided you are not locked into Skipton and you are happy with Moneybox being app only then I would have thought it’s worth switching. I’ve never used Moneybox so I can’t comment on them as a customer but they seem to be well reviewed, and their TrustPilot looks healthy.
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Just set up a LISA with Moneybox and completed the form to transfer my Newcastle Building Society LISA. Can’t argue with the 1.4% rate - really good to see.
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Can I ask in this instance what happens to the % interest earned to date and the pending bonus payments?
Id look to do the same as long as i dont risk misisng out on any of these payments
If anyone here has a Skipton account they’re launching an app in the coming weeks 
.
Just checking, am I right in thinking that Monzo don’t currently have any LISA plans in the pipeline? Wanted to be sure before I move my money to Moneybox!
We’ve not heard anything from them to suggest a Monzo LISA is in the pipeline (it is quite a rare ISA product).
Just a reminder - Moneybox tend to charge through the teeth via fees IIRC.
I’m on Nutmeg, and whilst also charging fees, I think they tend to have lower fees (obviously depends on the size of your portfolio!).
I don’t think they are charging fees for the LISA (I feel that Martin Lewis would have highlighted if that was the case) but I will double check before I move any money over. It is a Cash LISA I am talking about btw, not stocks and shares.
Why is it so rare for banks to offer the Cash LISA? I would have thought a house deposit would be the largest pot of savings a lot of people have these days. Is it down to the administration of it, or something else do you think? Are they just not that profitable for a bank?
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Ah apologies, yes I think you are right, Cash LISAs don’t tend to charge fees!
Ermm to be honest I’m not entirely sure - I think they are a fairly new product and the whole 25% administration and then the way in which you have to use it makes it a bit of an ongoing chore. But I couldn’t honestly say what it is about them that makes the bigger banks so adverse to opening them up!
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Yeah I agree, Martin Lewis would have picked up on it. Anyway to confirm, I checked their terms which says
If you only hold a Cash LISA then you will pay no fees to Moneybox.
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Thanks saf!
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I’m using Newcastle Building Society LISA. Quite impressed. Their comms are good and their site portal is adequate. It’s fairly basic from what I can see but gives you the info you need, works on mobile.
Only real gripes are that theres no app and the LISA took a few weeks to setup which seemed excessive.
I had my cash LISA with Skipton but Moneybox offer a better interest rate so I have since transferred my money there.
Have to say the process was so quick and easy.
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Me too! Recently opened my S&S LISA with Nutmeg and like it a lot so far - all very simple, love the interface and app, nice options to tailor your account in terms of risk and social responsibility, very reasonable fees.
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