Halifax share Builder

moneyspender1981

Hi,

After some advise from this board, I have been looking at the halifax share builder.

I am trying to get to9 terms with it and bout £20 worth of shares just to see whats what, i just wondered why I only got £11 of ahres and commision was £9? is the commision from halifax?

I'm looking to invest a regualr amount £100 a month but seems a bit steap if I'm loosing half in comission?

cheers

noh

Share Builder comission is £1.50 per purchase.

Don't understand where the £9 came from.


On £20 worth of a share purchased via share builder you should have to pay £1.50 comission plus stamp duty of 10p.

http://www.halifax.co.uk/sharedealing/products/halifax_sharebuilder.asp

moneyspender1981

this is what the last statement said

Consideration(GBP):12.87Commission Charged(GBP):11.95Stamp Duty(GBP):0.06PTM Levy(GBP):0.00Net Total Due(GBP):24.88

JonnyBravo

Sure you used sharebuilder and not just share purchase???


£11.95 is what they charge for a standard online purchase of shares. This is not sharebuilder.

http://www.halifax.co.uk/sharedealing/products/share_dealing_account.asp

moneyspender1981

yeah this is what I thought I had done, doh... certainly put them in negative equity already

moneyspender1981

In my account its called "Share Builder" do you have to wait to put the money in monthly ? or can you buy straight away

opinions4u

moneyspender1981 wrote: »

In my account its called "Share Builder" do you have to wait to put the money in monthly ? or can you buy straight away

If you buy at a specified date via Sharebuilder they charge £1.50. I preferred to buy my shares every 3 or 4 months via this, rather than every month, as this save me a few quid.

If you buy "real time" they charge you the normal sharedealing fee of £11.95.

I'd ring them up, tell them you were confused and ask politely if, as a gesture of goodwill to a new user, they'd be willing to refund all or part of the £11.95.

The worst they can do is say no (which is within their right).

ses6jwg

You have to go to account management and "set up regular investments" to qualify for the cheaper fee.

Even at £20 with £1.50 comission that is still a whopping 7.5% fee.

moneyspender1981

thanks for your help, think I have sussed it now.

unfortunately I did put three £20 transactions through testing it.. so £60 spent for £27 worth of shares, lets hope they go up.

I have spoken to halifa and said the website was a little confusins... so hopefully they ahve a good will gesture fund for confusing websites, and numpty users :-)

sabretoothtigger

Which shares did you buy, most wont double in value.

If you go to dealing then click on

Manage your Bank of Scotland ShareBuilder or other Regular Investments

then you will be in the right place



If you divide the commission by the percentage buying cost you are willing to suffer then it'll give you the minimum buy amount you need.
Considering its a two way transaction I'd say 2.5% is the highest feasible percent so £1.50 divided by 0.025 is £60 on sharebuilder or £478 for the real time dealing.

Halifax charge £5 for small share sales. So £60 on sharebuilder would need the 11.5% growth just to get your money back. Possible but pretty costly for something supposed to make money :undecided