Transfer vls80 from hl to Halifax sharedealing

hamski

I am not an experienced investor so apologies if this sounds really basic.
Looking for advice on best way (lowest cost) to transfer my vls80 isa from hl to Halifax.Already have vls80 with Halifax and want to transfer vls 80 from hl as paying higher fees with them.Would it be best to sell my hl and the transfer the cash to Halifax then repurchase (hopefully at lower price).
Also is there a best time to put in the sell order and will the proceeds automatically remain in isa wrapper.
I await to be shot down in flames.

talexuser

It is a good plan to get lower fees. However sell and buy is a risk you could just as well lose out and you must make sure to keep the ISA status. I would say get ISA transfer forms from Halifax, fill in the HL details, and wait the 4 or 8 weeks for the units to be transferred without selling.

ColdIron

Contact HSD and ask them to initiate an ISA transfer, that way they retain their ISA status. Luckily for you HL scrapped exit and transfer fees in September
https://citywire.co.uk/wealth-manager/news/hargreaves-scraps-exit-charge-in-wholesale-fee-overhaul/a1270183

hamski

Thanks for the quick replies , didn't know the transfer fees had been scrapped that was my reasoning for selling them and then re purchasing.
Does that mean my vls will not reduce because of transferring and it will not cost me.

TCA

All good advice above. I believe you can sign in to your Halifax account to complete an ISA transfer form, which you also print off to sign and send off in the post to Halifax. No charges other than a stamp. As ColdIron mentioned, HL recently scrapped their transfer fees and as a result they are inundated, so be prepared to wait a couple of months for the transfer.

badger09

hamski wrote: »

Thanks for the quick replies , didn't know the transfer fees had been scrapped that was my reasoning for selling them and then re purchasing.
Does that mean my vls will not reduce because of transferring and it will not cost me.

If you ask Halifax to xfer your S&S ISA containing VLS80 'in specie', you won't be out of the market at all, so the value of the VLS units when they arrive, will be the same as it would have been if you had left them with HL

Just a minor point - all current year S&S ISA subscriptions must be kept together. So, if since 6th April 2019 you've invested in VLS 80 & something else in your HL ISA, you will have to ask Halifax to transfer that as well.

Tom99

I transferred 20+ individual shares to Halifax a few year ago and it all went very smoothly.
Halifax even agreed to key in the original cost figure so that the profit was correctly calculated.