ISA Investor enquiries

ISA Investor Product Options                                                  

Q. What is a Halifax ISA Investor?

A.  This is an ISA through which you can invest in the shares of one or more funds of Open Ended Investment Companies (OEICs). It is available to UK residents aged 18 or over as a stocks and shares ISA. The value of your investment can go down as well as up and you may get back less than you invested.

Q. What is a Halifax ISA Investor for Growth?

A. This is an ISA through which you can invest in one or more funds of an Open Ended Investment Company (OEIC) to help the real value of your money grow over time. You can invest in a number of funds to best match what you want from your investment. It is available to UK residents aged 18 or over. The value of your investment can go down as well as up and you may get back less than you invested.

Q. What is a Halifax ISA Investor for Income?

A.This is an ISA through which you can invest in either the Corporate Bond Fund or the UK Equity Income Fund of an Open Ended Investment Company (OEIC) to aim to give you an above average income. It is available to UK residents aged 18 or over. The value of your investment and any income it provides can go down as well as up and you may get back less than you invested.

Q. What is a Halifax ISA Investor - UK FTSE 100 Index Tracking Fund?

A.You can invest in the UK FTSE 100 Index Tracking Fund of an Open Ended Investment Company (OEIC) through the ISA Investor. This fund aims to track the performance,both down and up, of the FTSE 100 Index. It is available to UK residents aged 18 or over. The value of your investment can go down as well as up and you may get back less than you invested.

Q. What is a Halifax ISA Investor - Stakeholder Option?

A. Stakeholder investment products meet Government requirements in relation to payments, where your money is invested and charges. The Stakeholder Option in our ISA Investor allows you to invest lump sums and / or make regular payments into our Cautious Managed Fund, which invests in stocks, shares and other investments. The value of your investment can go down as well as up and is not guaranteed. You may get back less than you originally invested.

Please refer to the relevant Key Features.   ISA Investor for Income , ISA Investor for Growth including the Stakeholder Option and ISA Investor – UK FTSE 100 Index Tracking Fund for specific risks.  You'll need Adobe Acrobat Reader  to read these documents.

Payments and Contributions                                                                                         top^

Q.  How much can I pay into my plan?

A.  The table below sets out examples of the amounts you can pay into ISAs in the 2008/09 tax year:

You can invest a lump sum of at least £20 or a minimum of £20 per month in a Halifax ISA Investor including the Stakeholder Option. For the Halifax ISA Investor – UK FTSE 100 Index Tracking Fund, you can invest a lump sum of at least £500 or a minimum of £50 per month.

You can add lump sums of £20 or more to your Halifax ISA Investor including the Stakeholder Option or up to £600 per month to your Halifax ISA Investor – UK FTSE 100 Index Tracking Fund at any time, as long as you don't exceed the ISA investment limits in any one tax year.

Q.  Where are my payments invested?

A.   Your payments are invested in one or more funds of the Halifax Open Ended Investment Companies (OEIC) managed by HBOS Investment Fund Managers Limited and the investment advisor – Insight Investment

For further information see our range of funds

The value of your investment can go down as well as up and you may get back less than you invested.

Q.  What will the likely return be on my investment?

A. When you decide to cash in your ISA, we will pay you the plan value. The value of your investment is not guaranteed and you may get back less than you invested. What you get back will depend on:

• how much you invested
• how long you left your money invested
• the investment performance while it has been invested
• the effect of any withdrawals you made and our charges

Q.  Can I take money out of my ISA Investor?                                                                                     top^

A. You can take money out but it will reduce the plan's value. Unless you're making monthly payments into your plan, you'll need to leave at least £20 in your Halifax ISA Investor including the Stakeholder Option or Halifax ISA Investor - UK FTSE 100 Index Tracking Fund after the withdrawal.

Once you have taken money out you can only reinvest it in your Halifax ISA Investor including the Stakeholder Option or Halifax ISA Investor – UK FTSE 100 Index Tracking Fund if you have sufficient unused allowance for that tax year.

Your investment has an open-ended term but you should aim to invest for at least five years. The value of your investment can go down as well as up and you may get back less than you invested.

The minimum partial withdrawal you can make from your Halifax ISA Investor including the Stakeholder Option or Halifax ISA Investor – UK FTSE 100 Index Tracking Fund at any one time is £20. If you hold a Halifax ISA Investor for Income, you can take an income each quarter and take out all or part of your money at any time.

Q.  What is the term of Investment?

A.  An ISA is a medium to long term investment and although you can take money out at any time you should aim to invest for at least five years.

Q.  Are there any risks with ISAs?

A.  The value of your investment and the income from it can go up and down and is not guaranteed. You may get back less than you invested.  Please refer to the Key Features documents available above.

Transferring your ISA                                                                                                  top^

Q.  Can I transfer my ISA?

A. If you wish to transfer your ISA to another ISA manager without losing any tax relief you need to contact your new ISA manager. Your new ISA manager will then contact us to arrange the transfer. We will transfer your ISA by selling the investments in your Halifax ISA Investor and paying the proceeds to your new ISA manager, although we will deduct any amounts owed to us or HM Revenue & Customs before sending the money.

Q.  How can I check the value of my ISA?

A. Every six months you'll receive a statement showing the value of your ISA. You can get details of the prices of shares and yields from our fund prices page, or by calling us on 0845 850 2976. Calls from BT landlines will cost a maximum of 4p per minute to 0845 numbers and a 6p call set-up fee. The price of calls from other telephone companies will vary.

Tax, Charges & Cancellations

Q. What charges will I pay?

A.There is no initial charge for investing in any of the funds and no exit charge when you take money out. There is a yearly management charge of between 1% and 1.5%, depending on the funds you have chosen.

Please refer to the relevant Key Features document available above.

Q. What tax will I pay?

A. Under the current law relating to tax relief for ISAs, we will manage your ISA Investor so that it is free from UK income tax and capital gains tax. This does not take into account any tax that may have been paid on any investments received within the fund or taxes paid by the fund before reaching you.

Q. Can I cancel my ISA?

A. After your application is accepted you will receive a notice of your right to cancel. You will then have 30 days in which to change your mind. If this right is exercised and you have paid lump sums, any monies returned may be less than those originally paid if the value of the underlying assets has fallen.

More information

If you don't know which ISA is right for you and you're not sure where to start, our ISA Selector Tool will guide you through your options to find out if we have an ISA to meet your needs.

Please refer to the relevant Key Features and Plan Conditions document available from the top of this page.  You can view these from the 'Risks' section above.

If you have any further questions you can make an appointment with a Halifax adviser. We give advice on our own products.

Please note: we do not offer advice as to the suitability of the ISA Investor – UK FTSE 100 Index Tracking Fund. This is only available without advice. If you require advice on the suitability of this product, you should visit an independent or whole of market financial adviser who can advise you on a selection of products from the entire market. You may be charged for this. top^