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I opened a LISA on the 30th March 2020 but only put the initial £10 in to open it. I closed the account today. Can I open a new LISA?

24 November 2021

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Question by Helen

I opened a LISA on the 30th March 2020 but only put the initial £10 in to open it. I closed the account today. Can I open a new LISA?


Answered by Joshua Gerstler

Hi Helen,

Yes you can open a new LISA.

You may prefer to transfer the old LISA into your new LISA so that the £10 stays within the LISA wrapper.

Remember that you need to have had the LISA open for at least 12 months to be able to use it towards your first home.

I hope that helps!

Josh

Answered by

Joshua Gerstler

Chartered Financial Planner

I have been working in Financial Services for over 16 years. I started out at Deloitte where I trained and qualified as a Chartered Accountant before moving to Financial Advice/Planning at The Orchard Practice in 2011.