Leaving HL without transfer charges

masonic

dutchism1958 wrote: »

We have 50K of investments in 2 Vantage S&S ISA's with 19 funds due to be condensed into 12 and when I look at other providers costs the difference seems relatively small?.

I don't think the difference is small...
At HL, you will be charged 0.45%. 0.45% of 50K is £225
At CSD, you will be charged 0.25%. 0.25% of 50K is £125
At III, you will be charged £80 (£10 per deal or £1.50 for regular savings with £20 free trading credit per qtr)

Potential savings for you are at least £100 per year and the savings will increase as your portfolio grows.

In general, people with holdings >£25k may find it worth switching.

rpc

masonic wrote: »

In general, people with holdings >£25k may find it worth switching.

Or people who expect to have holdings of that value in future.

planteria

is there a 'current template' message to send to HL to get exit fees waived?

dutchism1958

Many thanks to Masonic,Rpc,and Grey Gym Sock, looks like I need to make the move away,it's good to have the clarification and support here from others who know more.

zagfles

masonic wrote: »

I don't think the difference is small...
At HL, you will be charged 0.45%. 0.45% of 50K is £225
At CSD, you will be charged 0.25%. 0.25% of 50K is £125
At III, you will be charged £80 (£10 per deal or £1.50 for regular savings with £20 free trading credit per qtr)

Potential savings for you are at least £100 per year and the savings will increase as your portfolio grows.

In general, people with holdings >£25k may find it worth switching.

The OP said it was in 2 ISAs presumably for the PP and spouse. I think the above assumes it is in one ISA? Or do II let you combine accounts for one fee?

masonic

zagfles wrote: »

The OP said it was in 2 ISAs presumably for the PP and spouse. I think the above assumes it is in one ISA? Or do II let you combine accounts for one fee?

Yes III allow you to link accounts and only pay one fee.

OldDIYer

zagfles wrote: »

The OP said it was in 2 ISAs presumably for the PP and spouse. I think the above assumes it is in one ISA? Or do II let you combine accounts for one fee?

You can link accounts on II and only pay the £80 once. The 8 free trades can only be used on whichever account you nominate as the main one.:T

OldDIYer

planteria wrote: »

is there a 'current template' message to send to HL to get exit fees waived?

I wrote:

I am considering transfering my ISA to another provider because your new charging structure will result in excessive charges. I can get a far better deal elsewhere.

However, I see that you charge £25 per line of stock which seems unfair in these circumstances.

Can you confirm that the charge will not be made in this case?

Sent by secure message and it worked!

[Deleted User]

Hi,

is £80 the total yearly cost with III, no matter how many different funds, and do they also have a 'loyalty bonus'?

OldDIYer

[Deleted User] wrote:

Hi,

is £80 the total yearly cost with III, no matter how many different funds, and do they also have a 'loyalty bonus'?

£80 is all you pay unless you trade more than twice per quarter - then £10 per trade (funds or shares). They discount Fund AMCs typically half of the common 1.5%. HL discount will be greater but you pay a whopping 0.45% platform fee.