Simplest method to purchase £5k worth of shares as a one-off

HHarry

007mse said:

Thanks all for your comments. Some were even concerned for my leap of faith - thanks!
To the last post, nope, they're weren't me. I'm a first time poster with a genuine question.
Without giving the stock away, I will say it is a UK bank. Looking at the past 10 years I just cannot see it failing to increase 100% over the next five years.
I feel it is a very safe bet.
Lansdown Hargreaves looks like the route to follow. I will have a read to understand the specific trade method to make.
All I wonder now is if the worst has occurred already or if it is likely to dip again.
Thanks.

 I thought that about Lloyds when they dropped from £4 to £1, and stuck a bit of fun money into their shares.
 Lo and behold they dropped even further to something like 40p, so  I bought some more - a lower unit cost reduces the gain needed to make a profit, right?
Theoretically yes.  But in the many years I’ve held them they’ve dipped into a miniscule profit a few times - and they’re now only at 30p(ish).

Follow the advice - stick your money in a well diversified tracker.

Bravepants

Bit of a none question from the OP really. Even if he paid £20 transaction fee each to buy and sell the shares, this would amount to 0.08% per year should reach his expected goal of doubling his money. Much cheaper than holding a fund in say Vanguard. 

Old_Lifer

The purpose of my post was to urge caution.     For someone who has not invested before  to put  a sizeable lump sum into a single share carries considerable risk.      Even banks can get into trouble from time to  time,  so steady growth over a five year period  may not happen.    Even  FT 100  companies are not necessarily  safe.   Companies move in and out of  the FT 100 as their fortunes change.   Companies merge, are taken over or simply cease trading.    How many famous High  Street names have disappeared in the last five years?    Who knows which companies  may  disappear during the next five years?

You regularly  see  Forum members,  some seasoned investors with sizeable portfolios,  urging new investors to stick with funds to reduce the risk.   That is how  I started investing over 50 years ago by investing in unit trusts.  Firstly  in UK  funds,  then international funds , then country specific funds.    It was only after  nearly  10 years that I bought my first individual share.

For me,  someone new to investing  buying  individual shares  just seems to be way too risky.