Share Dealing Account Commission Rates

UK Equities, Gilts and Fixed Interest Stock

Online Nominee

Flat Rate

£15.00 per trade

Telephone Nominee

First £5,000 of each transaction	1.00% per trade
Thereafter	0.20% per trade
Minimum	£17.50 per trade

Certificated

Online and Telephone Trading Charges

First £15,000 of each transaction	1.35% per trade
Thereafter	0.40% per trade
Minimum	£35.00 per trade

International Equities

Online

Flat Rate

£20.00 per trade

Telephone

First £15,000 of each transaction	1.25% per trade
Thereafter	0.50% per trade
Minimum	£50.00 per trade

The exchange rate for all types of currency conversion will be based on the bid or offer exchange rates taken from the Royal Bank of Scotland website, www.rbsmarkets.com, or equivalent, on at least a daily basis, to which we apply a spread of upto +/- 1.5%, applied at the time of contracting.

Government Charges

Stamp Duty (UK Registered stocks purchases only)	0.5% of transaction value
Stamp Duty (Irish Registered stocks purchases only)	1.0% of transaction value
Panel on Takeovers and Mergers (PTM) Levy - UK	Flat charge of £1 on all transactions over £10,000
Hong Kong - all transactions subject to:	Transaction Levy of 0.004%, Trading Fee of 0.005% and Stamp Duty of 0.1%
Singapore - all transactions subject to:	A Clearing Fee of 0.04% subject to a cap of S$600

Non-CREST eligible and CREST eligible residual stocks are subject to a minimum charge of £5.00, with any greater charges rounded up to the nearest £5.00.

Unit Trusts

	BrokerLine Online and Phone
Purchases	No comission beyond that payable in the offer price

Cash Management Account Interest Rates

Amount on deposit	Interest Rate Gross
£1+	0.20% gross
Gross interest will be paid every 3 months at the above levels and calculated daily. Gross means the rate that will be paid to customers without the deduction of Income Tax.

Additional Charges

Details	Charge
Stock Transfers (out of nominee)	£20.00 per holding
Unpaid cheques/Direct Debits returned due to insufficient funds	£38.00
Late Payment	£30.00 + 26.4% of the outstanding sum (29.84% EAR*)
Sell Out Fee due to non-payment	£40.00 + commission
Buy Back Fee due to non-delivery of stock	£40.00 + commission
Request for replacement share certificates	£35.00 + VAT and any other charges levied by third parties
Registration of legal documents	£35.00 + VAT
Telegraphic transfer	£25.00
Stop payment on cheques	£10.00
Duplicate statements (per statement)	£10.00 + VAT
CREST Personal Membership Account Administration Fee. We will waive the CREST Personal Membership Account Administration Fee if you hold £5,000 or more in stock and/or cash in the account at the time the fee is levied**, or if you have traded twice or more during the previous quarter	£15.00 + VAT per quarter
Certificated CREST Rejection Fee	£15 for each rejected stock
Nominee Administration Fee. We will waive the Nominee Administration Fee if you hold £2,000 or more in stock and/or cash in the account at the time the fee is levied**, or if you have traded at least once or more during the previous quarter	£10.00 + VAT per quarter
Valuation Fee	£10.00 +VAT per line of stock Valuation Fee Minimum Charge £50 +VAT
Duplicate Documents (Consolidated Tax Certificate, Corporate Action Notification, Contract Note)	£10.00 + VAT

Please note: All charges are shown exclusive of VAT unless otherwise stated. VAT will be charged at the prevailing rate where applicable. *EAR: Effective Annual Rate – The real annual cost, stated as an annual rate, which takes into account how often interest is charged. **The charge will be made in respect of the immediately preceding calendar quarter and will be levied during the last week before each quarter end or as soon as practicable after that week.

ISA Rates

Administration Fee

Total value of your BrokerLine ISA	Annual Administration Fee (+VAT)
Up to £7,200	£30.00
Over £7,200	£60.00
£25,000+	ZERO

The Administration Fee will be calculated annually on the last business day in May and charged on the following business day.

Uninvested Cash Balance Interest Rates

Amount on deposit	Interest Rate
£1+	0.20% gross

Gross Interest will be calculated on your credit balance on a daily basis and credited to your Plan on or around the 25th day of May and November in any one year. Gross means the rate that will be paid to customers without the deduction of Income Tax.

ISA Additional Charges

Details	Charge
Dealing Commission Rate	See Share Dealing Account Commission Rates
Plan Transfer In	FREE
Cash Withdrawal	FREE
Stock Withdrawal	£20.00 per holding
Account Closure or Transfer out	£50.00 + the relevant Administration Fee calculated on the Account value on the date of closure

Monthly Portfolio Builder Account and ISA

	Commission
	Buy	Sell
FTSE 350	£1.50	£15 (or phone rate)
ETFs	£1.50	£15 (or phone rate)
Funds	£0*	NIL

Purchases can only be made on the first and third Wednesdays of each month, subject to change. For more information please visit www.natweststockbrokers.co.uk.
* Funds do not incur commission charges, but may have an initial fee charged by the fund manager.