Usually a broker will be lenient on payment and give you time to pay but may write to you and formally give you ,say 14 days to pay or reverse the bargain (at your cost).

It is difficult messing about with an ISA because there is a limite to what you put in annually.

A good broker will guide you through all process of buying and selling but if you are dealing with on-line it is up to you. Why deal on-line if you need assistance? Cheap, I suppose. This is the problem with cheap, no frills brokers. You can lose money by not knowing what you are doing.

Hello everyone

I have decided to bed the majority of my shares into an ISA

My shares were sold and about 3000 pounds was made avaliable in my fund and share account

However i used a good 2000 pounds of the amount avaliable to buy more shares

I realised however there was a three day settlement period and the shares being rebought on my ISA are being settled the next day and I do not have all of the required funds due to my silly mistake.

What is likely to happen now, are there any penalties due to me not having the required funds at the settlement date? I am very confused right now

How do uk stockbrokers handle failure to deliver