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ISA's ?
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Bodger



Joined: 23 May 2006
Posts: 13510

PostPosted: Mon Mar 03, 14 4:47 pm    Post subject: ISA's ? Reply with quote
    

The current deals for our ISA's have recently come to an end and the return on them has gone down from 1.75% to 0.9% The deals that we set up last time we moved our cash seem to have disappeared.
There are better deals to be had but you have to pay a penalty if you take money out of them before the term agreed finishes.
We may have to use ISA money in the near future if and when we move house, so can anyone come up with an ISA better than the one's I've mentioned? I do realize that its a lean time for investors at the present.

dpack



Joined: 02 Jul 2005
Posts: 38155
Location: yes
PostPosted: Mon Mar 03, 14 4:51 pm    Post subject: Reply with quote
    

last one i had was a share one that lost about 15% so im not very keen on em

would a bs "high" interest deal work for you ?

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Mon Mar 03, 14 4:57 pm    Post subject: Reply with quote
    

Have you thought about crowdfunding?

Treacodactyl
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 25697
Location: Jumping on the bandwagon of opportunism
PostPosted: Mon Mar 03, 14 5:01 pm    Post subject: Reply with quote
    

Some of these offers may be suitable:

https://www.moneysavingexpert.com/savings/best-cash-isa

Lorrainelovesplants



Joined: 13 Oct 2006
Posts: 6518
Location: Dordogne
PostPosted: Mon Mar 03, 14 5:03 pm    Post subject: Reply with quote
    

On a similar theme to Bodger's - Im looking to invest a large amount of money on mum's behalf. Ive been told at the Nationwide that if she croaks before the end of the term (ie if we take out a 5 yr investment and she dies in yr 3 for example) there will be no penalty.
So, as the bank account she currently has (current ac) is paying 0.05%, I m looking to move a substancial amount to something safe, longish term and better rate.
Anyone got any suggestions? Apart from crowdfunding Rob.1

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Mon Mar 03, 14 5:06 pm    Post subject: Reply with quote
    

I don't know why you're laughing? But if you wanted a more conventional arrangement, with middlemen taking a cut, Zopa also offer decent rates.

pollyanna



Joined: 03 Nov 2012
Posts: 221

PostPosted: Mon Mar 03, 14 5:15 pm    Post subject: Reply with quote
    

If it's for Mum it must be safe, safe, safe.

I have no idea of her age, but if she is elderly it must be safe, safer, safest!

JB



Joined: 08 Jun 2005
Posts: 7753
Location: 91 N
PostPosted: Mon Mar 03, 14 7:46 pm    Post subject: Reply with quote
    

Cash ISAs are appalling value, usually paying below the rate of inflation. Equity ISAs are a much better option unless you expect to have no control over when you sell.

Lorrainelovesplants



Joined: 13 Oct 2006
Posts: 6518
Location: Dordogne
PostPosted: Tue Mar 04, 14 7:54 am    Post subject: Reply with quote
    

Rob - I can hardly invest my mothers money in a scheme that will basically pay her back in meat - I mean she stopped eating a few months back. Id end up in jail!

I realise the cash ISA thing is crap right now, but am looking at wider investments also - government bonds, anything really.

Bodger



Joined: 23 May 2006
Posts: 13510

PostPosted: Tue Mar 04, 14 8:06 am    Post subject: Reply with quote
    

Sad I know but we stick any loose change we get into a gallon whisky bottle and then when there's a hundred quid in it, we buy Premium Bonds.
We drank the contents years ago, so at least the whisky hasn't been ruined but those bonds have proven to be worse than the ISA's, with just the one win of 25.00.
We've considered buying a second property but we're probably a few quid short and at our tender age, do we don't really want the hassle? In the meantime, the value of our savings is diminishing year on year.

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Tue Mar 04, 14 8:27 am    Post subject: Reply with quote
    

Lorrainelovesplants wrote:
Rob - I can hardly invest my mothers money in a scheme that will basically pay her back in meat - I mean she stopped eating a few months back. Id end up in jail!

I realise the cash ISA thing is crap right now, but am looking at wider investments also - government bonds, anything really.


Not all crowdfunding pays back in meat and small businesses are crying out for funding right now. We can't complain about bankers and the government then continue to pay them all our capital to do with as they wish. As I said, the Zopa investment is a more regular form of peer to peer lending and far better rates than ISA's.

Bodger



Joined: 23 May 2006
Posts: 13510

PostPosted: Tue Mar 04, 14 8:32 am    Post subject: Reply with quote
    

I know very little about crowd funding and that's probably because I haven't read the threads on the subject but being a conservative with a little 'C' in life, aren't businesses large and small going down the pan everyday?

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Tue Mar 04, 14 8:42 am    Post subject: Reply with quote
    

Well, yes, that's one of the reasons savings are so rubbish. Also banks are pulling funding on perfectly good businesses to add to their profits.

It helps if you know and trust the business, but doesn't have to be that way - I've received funding through Twitter from someone I've never met for the other half of the weigh system funding, and cash basis borrowing through family loans have helped build some of the buildings on the farm. I got a bank loan for the office but now that's paid off I don't intend going bank to bank loans.

Bodger



Joined: 23 May 2006
Posts: 13510

PostPosted: Tue Mar 04, 14 9:00 am    Post subject: Reply with quote
    

In the meantime, I'm lending my money to the banks for less than nothing and tax exempt interest on nothing is still nothing.

Nicky Colour it green



Joined: 25 Jun 2007
Posts: 8834
Location: Devon, uk
PostPosted: Tue Mar 04, 14 9:34 am    Post subject: Reply with quote
    

money saving expert is a good place to start looking

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