Transfering a maturing cah isa to Vanguard Life strategy
LastbutFast
Posts: 47 Forumite
Some advice please. I'm a complete newbie to investing in S&S, so gently pls. I have exhausted all my options for cash in terms of high interest current accts, regular savers, ns&i etc and due to abysmal returns on offer for cash isas are ready to accept some moderate risk via a S&S isa in terms of growth,rather than income, over the next 10 years. I'm retired and living comfortably on my pensions. I'm thinking of transferring a soon to mature cash isa into Vanguard Lifestrategy 60 but am unsure how to actually do this. I'm aware options may include directly with Vanguard or perhaps Halifax share dealing and would prefer to limit the costs of such investment. The latter may be my better option as I do not intend to make many, if any further transactions this year. I guess I'm looking for the idiot's guide through the process of application and transfer without loss of the isa wrapper. Any advice is appreciated, thank you.
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As regards the transfer process it's the same as a cash ISA transfer. Contact the new ISA provider and give them details of the old ISA and they will do the rest0
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Thanks. I thought that may be the case but couldn't see how to do that on the Halifax sharedealing website. Do I get that info from Halifax if I apply for the S&S isa option, do you know?0
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Thanks Linton. I must have had a little senior moment this morning to have missed that. I just think Halifax may be more economical for me regarding the circumstances I've described.0
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Just managed to get online chat with Halifax and have posted it for anyone else who is in doubt. "You will need to apply for an ISA account, once open you can fill in a transfer request from the list of options on the right hand side of the welcome screen (when signed in). Once completed you will need to print off the form to sign and send in, if you include a cover note explaining when the ISA matures we will request the money then . Once the money is in the ISA you will beable to place the order. The money will remain in the ISA wrapper."
Thanks again to those of you who provided advice.0 -
You can also do an isa direct with vanguard now see recent thread0
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LastbutFast wrote: »Just managed to get online chat with Halifax and have posted it for anyone else who is in doubt. "You will need to apply for an ISA account, once open you can fill in a transfer request from the list of options on the right hand side of the welcome screen (when signed in). Once completed you will need to print off the form to sign and send in, if you include a cover note explaining when the ISA matures we will request the money then . Once the money is in the ISA you will beable to place the order. The money will remain in the ISA wrapper."
Thanks again to those of you who provided advice.
LastbutFast
Please also look at IWEB, which and others are using.
Its part of Halifax and is very easy to use. £25 account opening fee, then £5 each time you buy & sell funds (like Vanguard Lifestrategy) and no annual charge.
I think Halifax charges £12.50 a year and £12.50 each time you buy/sell but please check!0 -
I agree with your choice of Halifax Share Dealing as the best option. Hard to beat their fees if you are not planning to do much trading.0
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Thanks Badger, I will definitely give iweb a look.0
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I agree with your choice of Halifax Share Dealing as the best option. Hard to beat their fees if you are not planning to do much trading.
Edit - link to best buy page on this website: http://www.moneysavingexpert.com/savings/cheap-online-sharedealing“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0
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