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Transfer your Lifetime ISA to EQi

Transfer to an EQi Lifetime ISA - the cheapest in the market*

APPLICATION FORM

STEP 1

Complete the application form

First you’ll need to complete and return the Lifetime ISA application form. Take care to fill in page 3 which deals with transfers.
- APPLICATION FORM
STEP 2

Ensure you have cash to transfer

You can only transfer cash into a Lifetime ISA. If you have any investments, you’ll need to sell them to enable the transfer. You can repurchase them in your new EQI Lifetime ISA.
Step 3

Your new EQi Lifetime ISA is open

We'll let you know once your Lifetime ISA is open, and you can recommence saving and investing.

Transfer a Help to Buy ISA to a Lifetime ISA

Since Help to Buy: ISAs were discontinued in November 2019, Lifetime ISAs have become increasingly popular. Although both types of ISA offer a 25% bonus, Lifetime ISAs are more attractive for two reasons:

Lifetime ISAs have a higher annual allowance of £4,000 (as opposed to the Help to Buy: ISA’s annual allowance of £2,400)
You receive the 25% bonus each year with a Lifetime ISA (as opposed to the Help to Buy: ISA where you only receive the bonus post-exchange on your first home)

You can transfer assets from a Help to Buy: ISA to a Lifetime ISA by filling in the Lifetime ISA application form. Take care to fill in page 3 of the form which deals with transfers, whether than be from an ISA, Help to Buy: ISA, or a Lifetime ISA with another provider.

Transfer a cash ISA to a Lifetime ISA

You can transfer from an ISA to a Lifetime ISA but as Lifetime ISAs have unique benefits, there are conditions to bear in mind.

You can only transfer up to £4,000 into a Lifetime ISA each year
Your Lifetime ISA allowance makes up part of your overall annual ISA allowance – meaning you can’t subscribe more than a combined total of £20,000 to your Lifetime ISA or any other ISAs

Transfers into an EQi Lifetime ISA have to be as cash and not investments. Once your transfer is complete, you can repurchase any investments.

It is not possible to transfer part of your current year ISA subscription to a Lifetime ISA. This is because HMRC rules do not allow ISA subscriptions to be ‘split’. For example, if you have £6,000 in an ISA, you can’t transfer £4,000 from the ISA to a Lifetime ISA. You can also transfer ISAs from previous tax years up to the £4,000 allowance.

It is important to note you may be charged exit fees by your current provider.

Transfer a Lifetime ISA from another provider

You can only subscribe to a one Lifetime ISA in any tax year, whether it be a stocks and shares Lifetime ISA or a cash Lifetime ISA.

For this reason transfers must be initiated via the EQi Lifetime ISA application form. We’ll organise for your Lifetime ISA subscription to be transferred from your existing provider to EQi.

You cannot do an in-specie transfer to an EQi Lifetime ISA. This means you can only transfer cash, not investments. You need to ensure that your current Lifetime ISA contains cash only, and sell any other investments before beginning the transfer process. Once your transfer is complete, you can repurchase those investments.

WHY EQI?

We have the lowest custody rate for a stocks and shares LISA in the UK*
- PRICING
- ABOUT EQI
Why EQi?

Our price holiday means no custody fee in your first two quarters
- Open your LISA
- PRICE HOLIDAY INFO

Why EQi?

Insight and articles

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Smoother, faster transfers for our customers

We work with STAR, an initiative which focuses on improving the transfer of savings and investments from one financial institution to another.

At EQi, we are committed to making the transfer of assets into your ISA, LISA, SIPP or dealing account easy and quick.

*Correct October 2020

Transfer your Lifetime ISA to EQi

Complete the application form

Ensure you have cash to transfer

Your new EQi Lifetime ISA is open

Transfer a Help to Buy ISA to a Lifetime ISA

Transfer a cash ISA to a Lifetime ISA

Transfer a Lifetime ISA from another provider

We have the lowest custody rate for a stocks and shares LISA in the UK*

Our price holiday means no custody fee in your first two quarters

EQi benefits

Insight and articles

Which fund?

FTSE indices

Smoother, faster transfers for our customers