question for the money experts

[auckleyflyer]

Hi, following on from the pension thread.
We've just sold our house. There's nothing available at the min that's right so were about to rent for least 6M.
The rates at the bank's are derisory even in Isa's.
We cant commit to anything above 4M notice in case the perfect house becomes available?
Where would you put your money to at least work it?
Beginning to think her idea of premium bonds isn't so bad!?
Sum is between 140-150k
Any savvy advice?

[Filo]

I've got £50k in a stocks and shares investment at medium risk with the HSBC, I can take it out at anytime and it's made £10k since the referendum, it is viewed by the bank to be a longer term investment rather than short term and it can go down as wrll as up

[idler]

Hi, following on from the pension thread.
We've just sold our house. There's nothing available at the min that's right so were about to rent for least 6M.
The rates at the bank's are derisory even in Isa's.
We cant commit to anything above 4M notice in case the perfect house becomes available?
Where would you put your money to at least work it?
Beginning to think her idea of premium bonds isn't so bad!?
Sum is between 140-150k
Any savvy advice?

I've got almost the maximum in Premium bonds and win almost every month.
The wife has the same and also wins most months. That would take £100,000 out of your equation. If you did the max each, that is.
It's not perfect but you won't lose your money.
I've an ISA as well paying 0.95%.
 I'm 68 so my days of taking big risks are over but I'm enjoying the holidays.😎

[BobG]

I don't know what the exact rules are nowadays but Premium Bonds used to pay one prize per thousand pounds per year. The prize might only be 25 quid, but you would end up with a spread of prizes. It used to pay for our skiing holiday each year. Given current interest rates I expect you will need more invested to get one prize per year though. Better ask Ernie.

Bob

[Jenny]

My savvy advice would be to speak to a proper IFA rather than ask on a football forum

[idler]

I spoke to an IFA based near Hale and looking at their commission fees I think that he thought that I played for Man Unt.
He said that as I was retired and comfortable why not take a few risks rather than stagnate, as (worse case scenario) losing a wad now was only shaving the kids inheritance. His company has done well for a family that I know but my cavalier days are behind me. I might be short sighted but after working 51 years to get where I am I'm not wasting it now.

[GazLaz]

I'd put half of it up my hooter and have a double with the other half, Newcastle and Man City to win their leagues.

[auckleyflyer]

Cheers everyone. We are obviously taking advice but I was just asking out of a " you never know " kind of thing. Certainly read good advice on here before so not the un savviest of forums?!
Max Isa's and premium bonds look good for our accessibility options.
That or forex trading!!!!! Joke! Tried it with less Tha £100 and never sustained a profit for long.

[Bentley Bullet]

 auckleyflyer,

 Have you considered investing locally in Doncaster? There's a small little known business that operates north of the river that deals in projectiles propelled by firearms.

I'm very familiar with the owner of the business and will tell him you want to invest if you wish.



 

[idler]

Can't you advise him via your crystal ball BB?
🤔

[Metalmicky]

I would look at regular savers to get a bit more interest - 5% available at certain banks (Nationwide and TSB)

I have a max on premium bonds and they pay out regularly (£75 this month) - although be warned, you cannot just withdraw your cash, you need to give notice.... and I'm not sure how long that takes TBH - NS&I site will probably help.

As others have said - you can get some no notice/ISA accounts that will accrue 1% - I know NS&I do one... and Charter Savings do one at !.31% - but you need to give them 95 days notice to withdraw...

I've 2 Santander current accounts (one a joint and one in my own name) which have had £20k in for several years and earned 3% until recently - the rate is dropping (1 Nov) to 1.5% on balances between £3k and £20k.  You can also and you can earn cashback on utilities bills although there area a number of conditions that you have to meet to qualify, but it works for us.

[GazLaz]

auckleyflyer,

 Have you considered investing locally in Doncaster? There's a small little known business that operates north of the river that deals in projectiles propelled by firearms.

I'm very familiar with the owner of the business and will tell him you want to invest if you wish.



 

Is Bentley Bullets listed on the FTSE?

[idler]

I've won £475 so far this year with 19 prizes of £25. I re-invest prizes so they are straight in and don't have to miss a month as you do when you buy them.
I have just over £48,000 in.
My son-in-law put £7,000 in and won in the first eligible month but hasn't won since.
It's literally the luck of the draw but you have the chance however slight of winning a big prize every month.
I have a similar amount in a variable cash ISA earning 0.95%. I missed the boat on that one hoping rates would rise whereas the wife has a fixed term one.

[Jenny]

I would look at regular savers to get a bit more interest - 5% available at certain banks (Nationwide and TSB)

I have a max on premium bonds and they pay out regularly (£75 this month) - although be warned, you cannot just withdraw your cash, you need to give notice.... and I'm not sure how long that takes TBH - NS&I site will probably help.

As others have said - you can get some no notice/ISA accounts that will accrue 1% - I know NS&I do one... and Charter Savings do one at !.31% - but you need to give them 95 days notice to withdraw...

I've 2 Santander current accounts (one a joint and one in my own name) which have had £20k in for several years and earned 3% until recently - the rate is dropping (1 Nov) to 1.5% on balances between £3k and £20k.  You can also and you can earn cashback on utilities bills although there area a number of conditions that you have to meet to qualify, but it works for us.

Problem with regular savers is that you can only drip feed them, I have both a Nationwide one and a TSB and whilst their headline rate of 5% is good, max you can put into them (combined) is £750 a month. TSB are also dropping their rate from January.

I have current accounts with both Nationwide and TSB to also take advantage of their 5% headline current account rates but again, they only pay interest on balances up to £2,500 and £2,000 respectively and TSB are cutting that rate too.

Santander becomes rubbish in November once you factor in the fact that you are paying £60 a year for the account (although we make that back in cashback).

Its hard work trying to get anything for your money at the minute!

[IDM]

At least with premium bonds you won't lose a penny.  I think you can cash out within a month, but I am not certain.

If you buy before the end of October, you don't get in the November draws but would be in the December draw.  Prizes are related to interest rates, so nowhere near as much these days as a decade or so ago. 

However, these are absolutely no risk, so I would recommend for an investment running for a short term ie 6 months to 24 months perhaps..

[Bentley Bullet]

Can't you advise him via your crystal ball BB?
🤔

If only the famous Crystal Ball could predict finance as effectively as football forecasting I'd be richer than Terry Bramall and Dick Watson combined. I'd even go as far as saying I wouldn't be too far behind Dutch Uncle, Donnywolf, BobG, and your good self idler, in the forum rich list!

[BobG]

Lol BB. I reckon you're the richest of all The omnipotent perspicacity, sanguinity and erudition of your soothsaying can lead to no other conclusion except that you regularly break the bank!

My form of investing, btw, revolves around PEPs and suchlike and property. Property is fun because you can do it with, mostly, other people's money. It's not as good as it once was and it will get significantly less rewarding over the next 4 years, but given the continuing long term housing shortage in this country it's still not a dead loss.

(The language, in rthat first para, btw, was meant as a joke. Re-reading it now, I'm not so sure it is! Sorry)

Bob

[drfchound]

Jenny, i wouldn't go so far to say that Santander is rubbish from November.
Even allowing for the annual £60 fee for having the account it still pays around £300 in interest and cash back on direct debits if you hold the max £20,000 in it.

[Jenny]

1.5% return is hardly fabulous though is it? We always expected that the rates would drop but I wasn't quite expecting them to halve it. It was a market leading current account but I expect many won't want to suffer the £60 a year fee now.

[drfchound]

I still have mine and wont be changing it.
The 5% rates that were mentioned are limited to the first £2000 or £2500 so won't offer as much interest in return as the Santander account over the year.
As you say though, there is nothing particularly great in interest rates right now.

[GazLaz]

Id invest with this lot of I wanted to put lumps away. https://woodfordfunds.com/the-company/

[idler]

The thing that always makes me think is that if someone is that good they would retire early.
The guy I spoke to was talking about working past 65. Mind you  maybe he needed to pay off the car that he was in worth over 100k.

[Metalmicky]

I would look at regular savers to get a bit more interest - 5% available at certain banks (Nationwide and TSB)

I have a max on premium bonds and they pay out regularly (£75 this month) - although be warned, you cannot just withdraw your cash, you need to give notice.... and I'm not sure how long that takes TBH - NS&I site will probably help.

As others have said - you can get some no notice/ISA accounts that will accrue 1% - I know NS&I do one... and Charter Savings do one at !.31% - but you need to give them 95 days notice to withdraw...

I've 2 Santander current accounts (one a joint and one in my own name) which have had £20k in for several years and earned 3% until recently - the rate is dropping (1 Nov) to 1.5% on balances between £3k and £20k.  You can also and you can earn cashback on utilities bills although there area a number of conditions that you have to meet to qualify, but it works for us.

Problem with regular savers is that you can only drip feed them, I have both a Nationwide one and a TSB and whilst their headline rate of 5% is good, max you can put into them (combined) is £750 a month. TSB are also dropping their rate from January.

I have current accounts with both Nationwide and TSB to also take advantage of their 5% headline current account rates but again, they only pay interest on balances up to £2,500 and £2,000 respectively and TSB are cutting that rate too.

Santander becomes rubbish in November once you factor in the fact that you are paying £60 a year for the account (although we make that back in cashback).

Its hard work trying to get anything for your money at the minute!

I'm aware of the limitations of regular savers - but every little helps IMO.

Santander is also worth holding on to and I shall be doing the same as drfchound and holding onto my two - remembering that the interest on savings is exempt of tax (with limits) makes the rate OK - especially if you can earn cashback to cover the annual fees.

A good spread of options is also advisable..... IMO

[Jenny]

Every little does help but the ability to drip feed a couple of hundred quid into a couple of accounts every month won't make much headway into trying to make £100k+ work for you over a couple of months. Especially when regular savers tend to only pay out interest every 12 months and you forfeit it if you make withdrawals.

We'll also be keeping our Santander account but will be utilising other options in priority going forwards.

[Metalmicky]

Every little does help but the ability to drip feed a couple of hundred quid into a couple of accounts every month won't make much headway into trying to make £100k+ work for you over a couple of months. Especially when regular savers tend to only pay out interest every 12 months and you forfeit it if you make withdrawals.

We'll also be keeping our Santander account but will be utilising other options in priority going forwards.

Hi Jenny - I appreciate that it won't make a great deal - I was just suggesting that taking advantage of the better rates out there (albeit for minimal gain) would be a start.

As a matter of interest, what other options are you utilising - genuinely interested in finding options also...