HL Equity Regular Savings?

Drp8713

Has anybody noticed you can now buy shares from £50 a month with a £1.50 dealing fee? Im sure this wasn't there when i last looked.

_HL wrote:

• You can invest into FTSE 350 shares and selected investment trusts subject to a minimum of £50 per stock per month (£40 in the Vantage SIPP). Please note tax relief paid into the Vantage SIPP will not be included in the regular savings instruction and will be held as cash when received. If your chosen equity does not appear then it is not available to buy via regular savings.
• Dealing commission is £1.50 per stock per month. Stamp duty will apply at 0.5%.
• The money will be added to your account on 7th of each month and invested on 10th (both dates will be delayed to the next working day if they fall at the weekend or a Bank Holiday.)
• Once set up your instruction can be monitored and, where applicable, amended through your account online.
• If you invest in a Stocks & Shares ISA, Junior ISA or SIPP you pay no capital gains tax and no further tax on the income.
• Your instruction will not be executed if the price of the equity exceeds your monthly amount or if the chosen equity cannot be traded for any reason and we will inform you of this. Should we be unable to buy your chosen stock we will try again at the following regular savings date.
• We will purchase as many shares as possible with your monthly savings limit (including dealing fees and stamp duty) but there is likely to be some cash left over. See example below.

Example

• Monthly savings £150
• Share price £23
• Dealing fee £1.50
• Stamp Duty 0.5%
• Number of shares purchased: 6 (£138)

westy22

No - never seen this before; it must have been sneaked in recently but I'm very surprised that I haven't seen any announcement or a letter or brochure (you know how they love sending letters!)

westy22

Drp8713 wrote: »

Has anybody noticed you can now buy shares from £50 a month with a £1.50 dealing fee? Im sure this wasn't there when i last looked.

It's not anywhere I can find on the HL site. Can you please post a link or tell us where you read it?

shazkhan111

interesting!!

I emailed them about this last year and they did not offer it at the time.

Just tried it online - looks good and works well. Great for playing the average on the market.

Drp8713

Also, as you can change your regular savings amount and shares invested in. I dont see why you couldnt say do:

December £50 Fund X

January £50 Fund X
£500 Share X

February £50 Fund X

I change funds every few months, and have had no problems. So as long as you do some sort of Reg Saver each month even if its funds, I dont see why you cant do one off share purchases for £1.50?

Drp8713

Go to your monthly savings tab on your SIPP or ISA. Theres also the list of shares available is one go to "add share" in monthly saving.

jimjames

I wonder if they are making updates to their website for their RDR changes and this has either slipped out accidentally or they are testing the water with new offerings.

westy22

Drp8713 wrote: »

Go to your monthly savings tab on your SIPP or ISA. Theres also the list of shares available is one go to "add share" in monthly saving.

Ah - I can see it now when I log-in. I was looking for something from the Home page links i.e. Regular savings or share buying costs.

Contrary_clive

But it'll still cost most people £11.95 per trade when it comes to selling them.

jimjames

Contrary_clive wrote: »

But it'll still cost most people £11.95 per trade when it comes to selling them.

That's the same as many other savings plans. If you are buying small amounts each month it isn't designed for regular traders.

Had a look last night and it does look like new feature they've added rather than an accidental release. Strange they haven't publicised it to highlight it as a low price service they are offering. I've used a similar service with investment trusts but holding them all in one place would be very handy and quite tempting to use this with HL.

Hopefully a sign of things to come from HL in 2014