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New HL fee structure from 01/03/26
Comments
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As per my earlier post, they have added a sentence to their online transfer form stating that it is possible if you contact them within 24 hours. This was not present the last time I transferred in an ISA.
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Is there any specific reason why Freetrade aren't being mentioned as an alternative? Don't think i've seen them mentioned at all in this thread.
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It's probably not front of people's minds. I use it quite a bit and like it. It also has a web browser option now (Plus tier only?).
Freetrade now has a limited range of OEICs and gilts, it recently shook up its pricing which included making its free tier far more comprehensive so imo it's a good option. It was recently bought by IG so it's now backed by a longstanding, profitable company.
It's also running a 1% cashback offer on £10k+ Isa and Sipp transfers.
https://freetrade.io/offers/2026-tax-year-end-offer
IG Invest and CMC Invest are also options if you don't own OEICs.
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thanks @wmb194
As someone who is about to transfer from ii to Freetrade for the 1% cashback, I just wondered if I was missing anything glaringly obvious.
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It is correct that SW has no ongoing charges for dealing accounts or ISAs. It is not alone in that respect, and makes a profit nonetheless.
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I thought I might have mentioned them, but I just inferred. I have named them on other threads though as I am currently switching to Freetrade too (though not from HL).
If you did, and had £500k sitting in funds in an HL SIPP, it would turn £1,750 per year of fees (£1,500 per year after their benevolent reduction) into £0 per year of fees PLUS a £5,000 cashback payment! 😯
• The rich buy assets.
• The poor only have expenses.
• The middle class buy liabilities they think are assets.1 -
I just thought of something. We are doing all these comparisons and we transfer to the cheaper platform. Boom, a few months on, the cheaper platforms up their fees as they can see HL has done, and they now have lots of ex-HL clients, so they can afford to do this, but still keep below HL to stay competitive.
Damn, we are back to where we were??? 😒
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It's an eternal cycle, new free companies will then crop up to try and eat their lunch too, just as they did to the companies before them.
Much like bank accounts and car insurance it is up to the customers to keep on top of the market as all these industries love nothing more than inaction and complacency.
It is so commonplace now that the word used to describe it was "word of the year" for 2024 and Digital Word of the Year in 2023…I just don't know if I can post it on here, …so here is the link instead….. 😁
• The rich buy assets.
• The poor only have expenses.
• The middle class buy liabilities they think are assets.1 -
HL have been much more expensive for some time and the other platforms were still able to make money at a lower price point so I'm not sure that will happen.
Remember the saying: if it looks too good to be true it almost certainly is.1 -
One to watch is AJ Bell as historically they have walked up their prices to remain just a little below HL.
Hopefully they'll leave well alone given all the other competition they now have.
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