At present an ISA is for life, so same tax concessions year on year. If there is a fixed period like a bond, you have the option to renew with the same people or switch to a new provider for free. This can continue for ever, until you take the money out and then you loose that years allowance...
Every home ever built was once a new home. All buyers that come after the first owner are very reliant on that first owner sorting out the snagging. Some dont know what their doing.