Legal & General Investments cuts Initial Service Charge

Friday, 27 January 2012 09:59

In a boost to customers, Legal & General Investments has announced that it has reduced its Initial Service Charge (ISC) to zero per cent.

The cost was cut for online sales back in March 2011, but the company has now extended this to cover sales through the post or over the telephone too.

If investors save their entire full stocks and shares ISA allocation of £10,680, they will therefore save £320.40.

Legal & General Investments is the first financial services provider apart from the supermarkets to cut out its ISC.

Claire Evans from the company said: "This change gives investors ample time to take advantage of the zero per cent ISC period before the ISA transfer deadline of 5th April [2012]."

Established in 1836, the Legal & General Group has more than seven million insurance, pensions and investment customers in the UK and is one of the biggest providers of index-tracking investments.

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