Transact to cut dealing and buy commission charges

Transact has said it will halve both its buy commission and dealing charges from 1 March.

The buy commission charge on investment purchases will be reduced from 0.20% to 0.10% from March and then halved again from March 2015. On portfolios with values in excess of £2m, there will be no buy commission from March and a 0.05% charge will apply to portfolios valued at between £1m and £2m. Dealing charges for standard, phased and regular transactions will be up to a maximum of £7.50, £1.25 and £0.75 respectively from March. From March 2015, they will be reduced further to a maximum of £3.75, £1.00 and £0.50 respectively. Transact chief executive Ian Taylor said: "2013 was...