Halifax Sharesaver

redmel1621

Hi

This thread is very interesting. A while ago me, my mum and my brother were all looking into the barcalys sharesave scheme we were going to pay £20pm each and start from there...anyway long story short, it never happened! But I have still had itchy fingers and seeing this thread has made me think about it seriously again.

I might just pop off and have a look at the haliax share account. Thanks Guys.

Mel x

johng_uk

Welcome Mel and thanks for posting!

Feel free to join us in our long-term quest to stockpile the worlds money!!

On a serious note, please pop on this thread and let us know if you've opened an account and how you are getting on. Eggedd and I are reading investments books at the moment to gain some knowledge of how it works!

I hope we get more regular posters on here so that we may share our knowledge and hopefully over time, make a litle money. The amounts we are talking at the moment though aren't life changing but it should be a fun journey!

The more heads sharing info the better.

redmel1621

Thanks for the welcome.

I will keep popping in now and then, and will also try getting hold of some literature on the subject too. I will have a lot more time after my Exams in June though so i'm not sure if I will get an account opened before then (well I might) but I will be keeping an eye on your progress.......

Mel x

johng_uk

I'm kind of in the same boat Mel. I'm reading books on the subject at the moment and have no account opened. Once I finish the books I will open an account and beging my research.

Gl with the exams!

eggedd2k

I've pretty much picked out my first company I'm going to invest in - one in the aerospace and defence sector.

Just got to wait for the next investemenr date.

Kay_Peel

I stick to ishares ETFs in my Sharebuilder - tracking the indices of the FTSE 100, 250, China, Brazil, Emerging Markets, World, Euro 80, UK Dividend Plus companies and a wide spread of others.

There's no stamp to pay on ETFs anyway.

The main attraction is the reduced exposure to the risks associated with trading single shares. I also like constructing a balanced portfolio across indices, sectors, geographical area and markets, and themes.

I considered wrapping a new tranche of ETFs into a self-select ISA but then I looked at all those administration costs:

Half-yearly administration charge 0.05% per month (min £2.16; max £8.33 per month)

Transfer out of shares electronically to another stockbroker £15 per investment

Transfer out of shares electronically to another ISA or PEP manager£15 per investment

Cash withdrawal by cheque £25 per investment

Ad hoc statement or valuation (on request)£30 per item

Certified withdrawal of stock £25 per investment

Voiding of PEP or ISA £65

ISA & PEP closure fee £40

Re-investment of dividends1% of the value of the deal, capped at the appropriate trading commission for that deal

and so on and so on and so on......... it goes on forever.

eggedd2k

blimey. I'd give that a miss for sure.

johng_uk

I guess that answers my question about using an ISA when I open my account - Doesn't sound like a viable option at all!

Thanks for posting Kay.

johng_uk

It's a bit of a faff to sort this account up I see (Unless I lucked out)!! After various calls and transfers it transpires that you have to set up the Sharebuilder account online (fair enough).

You also have to set up a standard share dealing account or the SB account cannot run. You don't have to utilise this account and both accounts will share the same acct no. etc.

I tried to set-up the share dealing account online but it is a requirement to deposit a minimum of £100 into the acct to open it! If you call through to 08457 22 55 25 and set it up there, stating that you are opening it for the Sharebuilder acct, this deposit is invalidated.

The other faff is that you must be registered to the Halifax Online service. This means that you must register for the online service 1st (can take up to 5 working days), then apply for the Share Dealing acct (can take up to 5 working days) and finally apply for the SB acct - I've not got that far yet so I can't state how long it is from opening until you can use it (i.e. with acct transfers and validations etc).

Hopefully it will be good fun and worth it in the end!

save-a-lot

Hi

I have a sharesaver account and have had it since 2005, I had a flurry of activity using it back then, then we had our first baby so I took my profits and withdrew the money. Anyway, a few years on (now) I am ready to use the Sharesaver again.

Anyway, I have had a SAYE mature with the company I work for and to shelter that 'pot' I want to diversify the shareholding from 1 company to maybe 4 or 5 holdings, so looking to invest between £1,000 to £1,500 in each of the 'right' shares. I have about £6.5K to invest and I think it makes sense to spread the risk rather than leaving everying in the one basket of the company I work for.

I have thought about a self select ISA (I might still do that), but reading the above post the charges kind of puts me off.