3 Year Share Hold or is it?



  • It came up in a forum conversation yesterday that FI are currently not expiring any holds that reach their 3 year period.
    This was the first I'd heard of this having not seen any announcement or received an appropriate email.
    I contacted Customer Services and raised my concerns. They responded promptly, all be it with a bit of a vague reply.
    They're not doing it at the moment, but they're not saying they're never going to do it.

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  • Up to now, no they haven't enforced it. But id take anything Cs say with a pinch of salt... Don't take the risk, if you are near 3 years sell... They will enforce it sooner or later... And you wouldn't put it past them for system to just automate it with no comms at some point.



  • If the shares don't expire soon its bad for all of us... People hoarding thousands of 20p Messi and neymar etc through 2 share splits are raking it in in divs and must be a huge burden on FI ability to increase dividends in line with current prices.



  • It's wrong. Was fuming when I heard yesterday. As things are they're not implementing what it clearly says in their ts and cs.
    All you want is clarity and goalposts not being moved.
    Then I find out that other traders already know about it and so are ultimately trading at an advantage to anyone not aware.

    If anyone gets an advantage, it should be me. ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚



  • I read somewhere (it might even have been on the footstock commonly asked Q&A) that FI have to have a time limit on the shares bought to make it a gambling product. If there wasnโ€™t a set time limit then FI would be an investment platform and taxes may have to be payed to HMRC on profits made like other investments. For that reason its quite bizarre that FI havenโ€™t ever taken shares away after three years (if thats true). One of the reasons may be that the chiefs at FI never actually thought someone would keep shares for three years and therefore never actually created a mechanism to remove shares after the three years is up. Theyโ€™ve regularly said that they plan on adding a time stamp to shares so you know when the three years is up.



  • I think it's likely that this is a temporary decision because of what's going on. They've had no choice but to stop IS, and the majority of the market is fairly stagnant so it may be that ppl are unable to sell these shares and these circumstances were of course, not reasonably foreseeable when those Ts and Cs were written. It's a bit like the 6 months grace on MOT's I suppose



  • @Dronny-Gaz said in 3 Year Share Hold or is it?:

    It's wrong. Was fuming when I heard yesterday. As things are they're not implementing what it clearly says in their ts and cs.
    All you want is clarity and goalposts not being moved.
    Then I find out that other traders already know about it and so are ultimately trading at an advantage to anyone not aware.

    If anyone gets an advantage, it should be me. ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚

    Completely agree. I renewed some shares recently and spent a large amount of time, effort and money in the process on the basis that they would expire. Then found out they had told other traders that they won't expire.

    Even more frustrating is that I contacted customer services to ask for clarity about a week ago and haven't heard back. But they have replied to the user above??!! Drives me crazy.



  • Yeah bin the 3 year hold.Hold indefinitely i say if you so wish.There will be plenty of trading any way as people have all sorts of strategies.


  • Banned



  • @MickTurbo exactly .. itโ€™s just temporary while this instant sell is not on and we got no football due to virus ...



  • @Doddy but I do agree that this should have been communicated much better



  • No chance ill be taking that risk, not worth it!


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