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Stock market crash: 2 cheap UK shares I’d buy in a Stocks & Shares ISA to get rich

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The stock market crash has provided an opportunity for Stocks and Shares ISA investors to buy cheap UK shares for the long term. Yes, some shares have rebounded after the FTSE 100’s decline, but many high-quality businesses continue to offer good value for money.

Here are two such examples. Their share price falls could mean that they have turnaround potential. Buying them today could boost your ISA’s performance and improve your financial prospects over the long run.

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An undervalued business among cheap UK shares

Vodafone’s (LSE: VOD) share price fall of 27% in 2020 means that it could offer a wide margin of safety relative to other cheap UK shares. The stock now has a dividend yield of 7.5% even after a recent cut to shareholder payouts. This suggests that it offers good value for money, as well as income investing potential.

The company’s dividend prospects could become more appealing over time. Low interest rates and a lack of high-yielding stocks in the FTSE 100 may cause increased demand for the telecoms company’s shares.

Although Vodafone recently reported a quarterly fall in revenue, its performance was relatively resilient. Its investment in digital opportunities and in infrastructure could improve its competitive position and lead to stronger financial performance over the long run. As such, now could be the right time to buy a slice of the business.

A Stocks and Shares ISA buying opportunity

Standard Chartered (LSE: STAN) also appears to offer good value for money compared to other cheap UK shares. The bank’s first-half results showed that factors such as coronavirus and low interest rates have weighed on its financial performance.

However, the company is forecast to post a 78% rise in net profit next year. Since it trades on a price-to-earnings growth (PEG) ratio of just 0.1, it seems to offer a wide margin of safety.

Standard Chartered continues to become more efficient, while it has been able to maintain a solid financial position through which to overcome near-term risks. Furthermore, its focus on emerging markets could mean that it is in a good position to capitalise on a global economic recovery in the coming years. Buying it now could produce high returns that improve the performance of your Stocks and Shares ISA in the long run.

Stocks and Shares ISA opportunities

Of course, buying cheap UK shares in a Stocks and Shares ISA may not produce capital gains in a matter of months. Risks such as coronavirus and political challenges such as Brexit could cause investor sentiment to weaken in the short run. However, stocks such as Vodafone and Standard Chartered appear to offer good value for money, which could allow them to post recoveries over the long term. Over time, this could boost your financial outlook.

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Peter Stephens owns shares of Standard Chartered and Vodafone. The Motley Fool UK has recommended Standard Chartered. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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