Why clients should consider a switch from Help to Buy to Lifetime ISA

Almost five years since Help to Buy ISAs were closed to new applicants

clock • 3 min read

Laura Suter looks at the potential benefits of helping clients switch from a Help to Buy to a Lifetime ISA in her latest article for Professional Adviser

With a huge focus over the past few years on the period of high inflation resulting in high interest rates, and the impact this has had on the cash people hold in their savings accounts, it feels only natural to turn attention to older products which are no longer paying an attractive rate on cash when compared with newer ones. It's been almost five years since Help to Buy ISAs were closed to new applicants but there are 2.2 million accounts still held by aspiring homeowners, worth around £5.5bn. With an interest rate gap of 2.34% between the best-paying Help to Buy ISA and the top rate ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ISAs

Most IFAs agree raising the annual ISA allowance would encourage investment

Most IFAs agree raising the annual ISA allowance would encourage investment

Comes as Reeves mulls Cash ISA allowance cut

Isabel Baxter
clock 03 April 2025 • 2 min read
Spring Statement 25: Govt looking at options to tackle Cash ISA 'hoarding' concerns

Spring Statement 25: Govt looking at options to tackle Cash ISA 'hoarding' concerns

Any reforms 'must be handled with care'

Jenna Brown
clock 26 March 2025 • 6 min read
Will Rachel Reeves' Spring Forecast tackle cash ISA hoarding?

Will Rachel Reeves' Spring Forecast tackle cash ISA hoarding?

'Too many people are unthinkingly hoarding cash'

Laura Suter
clock 18 March 2025 • 3 min read