UK Money News
3rd April 2008
Save on upfront fees with Halifax Isa
Investors who deposit £4,000 in a Halifax stocks and shares independent savings account (Isa) rather than similar products from rivals can save an average of £171.
This is the claim of Halifax Financial Services which calculated the size of the saving based on the fact that the lender does not levy upfront charges on savers.
Instead, investors who deposit their cash in Halifax Isa's pay only a yearly management charge, which the firm describes as "competitive".
Competitors including Royal Bank of Scotland/NatWest, Barclays, Lloyds TSB and HSBC all charge upfront fees on top of an annual management charge.
A statement from Halifax said that stocks and shares Isas can be a good option for those looking to invest for at least five years and noted that "over the long-term equities continue to offer stronger potential for attractive returns than other assets, such as cash".
The GfK NOP Financial Research Survey named Halifax Financial Services as the number one choice for stocks and shares Isa's for 2007.
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