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Transfering a maturing cah isa to Vanguard Life strategy

LastbutFast
LastbutFast Posts: 57 Forumite
Tenth Anniversary 10 Posts
in Savings & investments
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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Comments

  • ColdIron
    ColdIron Posts: 10,325 Forumite
    Part of the Furniture 10,000 Posts Hung up my suit! Name Dropper
    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 rest
  • LastbutFast
    LastbutFast Posts: 57 Forumite
    Tenth Anniversary 10 Posts
    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?
  • Linton
    Linton Posts: 18,484 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    The info is on the Halifax web site - see here.
  • LastbutFast
    LastbutFast Posts: 57 Forumite
    Tenth Anniversary 10 Posts
    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.
  • LastbutFast
    LastbutFast Posts: 57 Forumite
    Tenth Anniversary 10 Posts
    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.
  • Fatbritabroad
    Fatbritabroad Posts: 573 Forumite
    Fourth Anniversary 500 Posts
    You can also do an isa direct with vanguard now see recent thread
  • badger09
    badger09 Posts: 11,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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!
  • Audaxer
    Audaxer Posts: 3,552 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    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.
  • LastbutFast
    LastbutFast Posts: 57 Forumite
    Tenth Anniversary 10 Posts
    Thanks Badger, I will definitely give iweb a look.
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    edited 19 May 2017 at 9:13PM
    Audaxer wrote: »
    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.
    £12.50? X-O is £5.95.
    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 Sinclair
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