Recieved an email today from Nutmeg stating they will not be allowing transfers from HTB ISA’s before April 2018 so if I needed to transfer in an old HTB ISA I would need to do it elsewhere. Apparently this fintech can’t create a simple transfer system that the Skipton Building Society can produce within a few weeks. Now I will have to open another Lifetime ISA and was until next November to use it to buy a house!
Just wanted to share this incase other people were waiting to transfer into Nutmegs Lifetime ISA.
Nutmeg opened earlier, and I wanted the initial ‘year before use’ over with quicker plus it has increased by 4.75% (on £100 so… I’ve gained £4.75!) but with this news I’ll have to go with Skipton now to make sure I can transfer my HTB ISA into my Lifetime ISA before April 2018. Then I will have to wait until next November before I can claim on the account when purchasing a house instead of April 2018 12 months after opening it with Nutmeg.
