ISA Investor common enquiries

What is an ISA Investor?
This is a stocks and shares ISA through which you can invest in the shares of one or more funds of Open Ended Investment Companies (OEICs). It is no longer available to open, however existing customers can still top up their existing ISA Investor. Please remember the value of your investment can go down as well as up and you may get back less than you invested. For more information please read the Key Features document for growth or income (PDF New Window).

What is an ISA Investor - UK FTSE 100 Index Tracking Fund?
The UK FTSE 100 Index Tracking Fund aims to track the performance, both down and up, of the FTSE 100 Index. It is no longer available to open, however existing customers can still top up  their existing ISA Investor – UK FTSE 100 Index Tracking Fund. Please remember the value of your investment can go down as well as up and you may get back less than you invested. For more information please read the Key Features document  (PDF New Window). You'll need Adobe Acrobat Reader to read this document. 


What is an ISA Investor - Stakeholder Option?
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 from £20 into our Cautious Managed Fund. It is no longer available to open, however existing customers can still top up their existing ISA Investor. Please remember the value of your investment can go down as well as up and you may get back less than you invested. For more information please read the Key Features document  (PDF New Window). You'll need Adobe Acrobat Reader to read this document.

How much can I pay into my plan?
All eligible ISA customers can now invest up to £10,200 this tax year.

Please see the table below for examples of how your allowance could be used.

ISA limits for all eligible ISA customers

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Where are my payments invested?
Your payments are invested in one or more funds of the HBOS Open Ended Investment Companies (OEIC) managed by HBOS Investment Fund Managers Limited and the asset manager – Scottish Widows Investment Partnership. For further information see our range of funds.  
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What will the likely return be on my investment?
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
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How can I check the value of my ISA?
Every six months you'll receive a statement showing the value of your ISA or you can go online and see the value at any time. You can also get details of the fund prices and performance online at your convenience.
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Can I take money out of my ISA?
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 ISA Investor after the withdrawal. Once you have taken money out you can only reinvest it in your ISA Investor if you have sufficient unused allowance for that tax year. If you are considering making a withdrawal there are a few key points you should consider.  

The minimum partial withdrawal you can make from your ISA Investor including the Stakeholder Option or ISA Investor - UK FTSE 100 Index Tracking Fund at any one time is £20.
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How do I take money out of my ISA Investor?

Contact our Administration Unit for more information. If you are considering making a withdrawal there are a few key points you should consider.
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What is the term of Investment?
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.
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Can I transfer my ISA?
Take a look at our Transfer Your ISA page
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Can I top up my ISA?
Take a look at our Top Up Your ISA page
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What charges will I pay?
There are no initial charges for an ISA Investor. There is a yearly management charge of between just 1% and 1.5%, depending on the investment you hold and this may reduce over time. Please refer to the relevant Key Features documents available above.
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What tax will I pay?
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.
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Can I cancel my ISA?
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 investment has fallen.
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Can I cancel my ISA transfer application?
You will have 7 days to change your mind before we will process the transfer. Please contact our Administration Department for more information.

Are there any risks with ISAs?
The value of your investment and the income from it can go up and down and you may get back less than you invested.  Please refer to the Key Features documents available above.

When you invest in shares, you accept a risk to your capital in exchange for potentially higher returns - and what is acceptable to one person may be sheer recklessness to another. For example, the more companies you invest in, the more you spread the risk. If you were to invest equally in shares in four companies and one of them did particularly badly, that would adversely affect 25% of your money. If, on the other hand, you had invested in a fund that covered 100 companies equally, the poor performer would only affect 1% of your investment. Conversely, investing in a smaller number of companies means you benefit more when they do well and if you invest in a large number of companies you don't benefit as much.

Likewise, by limiting your investment to a single industry sector, say telecommunications, or geographical region, say the Far East, your returns will grow quickly when those areas are booming, but will also feel the negative effects of any economic downturn more quickly. Variations in exchange rates will also have an impact on the returns on your investment.

You can also place some of your money in funds that invest in cash, corporate bonds and property to add balance to your portfolio.

Sensible investing is all about setting the amount of risk you are prepared to accept. That's why Halifax offers different products that enable you to adjust your exposure according to how cautious or adventurous an investor you are.