Transfer H.L. s+s Isa over to Natwest...Considerations.

Dandytf

@eskbanker

T/fer as Safe in the Knowledge I'm handing over to NW -let them. at least use their Knoweledge whilst re Investing isa stock/shares.
That time info- I'm going to try via NWI, though t.b.h. their advisor had suggested as did hl that maybe best I sell stock and Cancel DD, yet NWI disclaimer states NW can sell stocks as part of transfer process.
I've scanned and signed form, yet I don't yet have option of choosing a new Monthly amount?
Slightly confusing as their website Isa Calculator does allow Fixed and/or Monthly sums to be used.

Meanwhile seems to attempt Sipp t/fer I 1st have to allow Isa t/fer to be complete.
p.s. Lots gained from this thread, appreciated.

eskbanker

Dandytf said:

@eskbanker

T/fer as Safe in the Knowledge I'm handing over to NW -let them. at least use their Knoweledge whilst re Investing isa stock/shares.
That's the extent and quality of your rationale for choosing Natwest from the huge range of platforms and providers, pretty much all of whom could say similar things?

That time info- I'm going to try via NWI, though t.b.h. their advisor had suggested as did hl that maybe best I sell stock and Cancel DD, yet NWI disclaimer states NW can sell stocks as part of transfer process.
There are essentially three separate processes involved, i.e. sell your existing holdings, get the money into a new ISA, and then reinvest in something else.  The point being discussed was time out of the market, which is primarily driven by the middle one of these - doing so as an ISA transfer can take 30 days, but going outside the wrapper could be much quicker and entirely within your control.  You'd obviously need to cancel your HL DD however you do this.  As part of a transfer, the receiving ISA provider can include an instruction to the ceding one to sell your investments, but that doesn't necessarily mean it's the best approach.

I've scanned and signed form, yet I don't yet have option of choosing a new Monthly amount?
Slightly confusing as their website Isa Calculator does allow Fixed and/or Monthly sums to be used.
I don't know the answer to that but in your shoes, if intending to fund monthly, then I'd ascertain that before signing forms!

Meanwhile seems to attempt Sipp t/fer I 1st have to allow Isa t/fer to be complete.
Those products are unrelated, who's suggesting they're linked in that way?

p.s. Lots gained from this thread, appreciated.
Glad you're finding it useful, even though it isn't obvious what you're actually learning!

Answers inline above....

Dandytf

eskbanker said:

Dandytf said:

@eskbanker


That time info- I'm going to try via NWI, though t.b.h. their advisor had suggested as did hl that maybe best I sell stock and Cancel DD, yet NWI disclaimer states NW can sell stocks as part of transfer process.
There are essentially three separate processes involved, i.e. sell your existing holdings, get the money into a new ISA, and then reinvest in something else.  The point being discussed was time out of the market, which is primarily driven by the middle one of these - doing so as an ISA transfer can take 30 days, but going outside the wrapper could be much quicker and entirely within your control.  You'd obviously need to cancel your HL DD however you do this.  As part of a transfer, the receiving ISA provider can include an instruction to the ceding one to sell your investments, but that doesn't necessarily mean it's the best approach.

These aren't really explained in any kind of detail when selecting Transfer from HL via NW.
thanks

I've scanned and signed form, yet I don't yet have option of choosing a new Monthly amount?
Slightly confusing as their website Isa Calculator does allow Fixed and/or Monthly sums to be used.
I don't know the answer to that but in your shoes, if intending to fund monthly, then I'd ascertain that before signing forms!
Another tel call to NWI tomorrow-not required.
Found Monthly Option via NWI Account, just wasn't offered when setting up transfer. 
in addition to Scanned copy, wet Sig to be returned
which kind of defeats option of Scanned Copy and return e-mail address.

Meanwhile seems to attempt Sipp t/fer I 1st have to allow Isa t/fer to be complete.
Those products are unrelated, who's suggesting they're linked in that way?
This was from NWI -Since re checking, maybe I had 'started' Sipp t/fer...

Your Personal Pension Account

Please complete your current transfer request before starting another.

p.s. Lots gained from this thread, appreciated.
Glad you're finding it useful, even though it isn't obvious what you're actually learning!

Answers inline above....

Some minor editing.

artyboy

A depressingly familiar theme here to a certain poster's threads... all I can say is kudos to those of you that have the stamina to keep plugging away here, however futile it may be...

Dandytf

savit4l8er said:

I think I would action the sales and cancel the DD myself. You can possibly cancel the monthly collection online on account settings or call and tell them.  You can cancel the DD with your bank easy. 

That way you have all in cash if you can accept being out of the market a while. 

I'm hestitant to Action and Cancel, yet hl themselves re confirm it's safe to do so.
I wonder how much Control Natwest Hold over Investments Account, in respect could they 'Auto Swipe' from Investments to my NatWest Current Account, to 'help' reduce overdraft.
I'm fine with a few weeks of Non Market Activity.

thanks 

eskbanker

Dandytf said:
I wonder how much Control Natwest Hold over Investments Account, in respect could they 'Auto Swipe' from Investments to my NatWest Current Account, to 'help' reduce overdraft.

Unlikely that they'd have the right to do this, as their investing arm is likely to be a different legal entity (not immediately obvious from a quick look at their site though), and if the current account is still being used and not defaulted then they'd have no reason to do so anyway.

However, at the risk of wasting my breath here, even if they don't do that, you should!  Borrowing (at an eye-watering APR) in order to invest is highly unlikely to be sensible, so get the overdraft paid off before (re)investing anything....

Dandytf

thanks @eskbanker
OD is my responsibilty to reduce through this and next year, great to hear NWI maybe considered separately.
I did consider part  withdrawal  towards OD, though going to try the reduce elswehere  1st to help repay OD.
Overdraft these days are max apr 39% approx, I was great until I continued groceries through High Inflation.
Should have checked much sooner and sampled rising product prices earlier.
NWI Wet Copy -delivered on 13-10-2023.
I have a while yet to Sell stock and Cancel DD -it's 7th each month for isa need to check sipp DD date.

thanks amazing.

eskbanker

Looks like I was right then, that I was going to be wasting my breath....

Dandytf

eskbanker said:

Looks like I was right then, that I was going to be wasting my breath....

O No! please No!

Dandytf

hl transfer update since NW Acknolodgement...
transfer from your HL Stocks & Shares ISA to another provider. 
Your transfer request has been received and added to our processing queue. We will be in touch with a further update once the transfer has been initiated.

I've not yet placed Sell/Cancel DD Instruction.
Let's see if both providers can make my transfer request hassle free.