Fantom

I think most people on this thread don't realise that A: it's not all my money, and B: we need it lol. Won't be blowing it that's for sure.
Might look at offset mortgages then.
I think I'm worrying too much as even if I drop to 1.5% ill only lose £100 a year on £10k. Not the end of the world

adamb87

i was thinking about premium bonds. got around 10,000 in isa saving for next years wedding so may put it in there and try and hopefully win some extra pennies

lordharding

iTrader: (1)

If you get a £50 cheque every couple of months it's worth it as the interest at what £6 a week isn't going to make you rich

It's like the lottery as well
One day you might win a bigger amount but worth a punt at 10k as you can withdraw the capital at short notice which is important with a new baby and the costs involved in that

davyboy

https://www.fidelity.co.uk/investor/isa/default.page

mattvortex

I have a cash isa with the Halifax that pays 3.0% interest and is instant access.

Matteeboy

We blew a chunk of ours on the camper; its been much more fun than seeing it disappear on nothing. But maybe a bit crazy for most.

Dr Hu

Nope - I have have been seriously looking for a Split Screen VW camper - they are rocketing in price - I would love one!
Better than sitting in a bank hey?

Matteeboy

Prices have indeed gone nuts! I hired one for my sisters wedding; she loved it! The other sister had a massive Yank Cadillac. We went for a new one; maybe it will eventually go up in value?! But by that time, internal combustion engines will probably be banned.

pslewis

It's a real nightmare investing in this day and age - it used to be so simple.

Offset Mortgages are great. Let's say you wish to put your money into a safe investment - use an Offset Mortgage ..... maybe borrow £200,000 - but (and this is where it's great) put £195,000 of your savings into it. Pay interest on just £5,000!! Result!

Savings can come out whenever you like, you are earning no interest on the money - BUT saving paying interest! At your highest rate - so, saving tax too!!

Put the money to good use - maybe a property on Buy-To-Let .... ensure you can get at least 7% yield and you're quids in.

Money is so cheap at the moment that saving is a mugs game - borrow as much as you can, offset it, and invest!

fivetide

iTrader: (1)

What no one has mentioned is the rate of inflation. If you get 3% on your savings and inflation is at 3% you are standing still.

Basically, if it is making less than inflation you are losing money. A cash/shares ISA should achieve the level of return needed otherwise you are better off spending it (which is what the government wants so it helps drive a bit of growth in the economy)

Matteeboy

Sounds good. 911 time....

Oh dammit, the wife says no. :-(

stilover

Change to an Offset Mortgage, and stick it in there. You still get access to your money should you need it, but also you can add to the pot thus either reducing your mortgage term, or monthly payments.

I have an Accord Offset mortgage, and have my pot to reduce my monthly payments.

I save a fortune every month. More than I'd ever gain with the same amount sat in an ISA.

Fantom

Who can give me an offset mortgage though with no fees and no more than 2.99%?
80% LTV.........
I'll have to have a search

billythekid

Premium bonds for lowest risk.

If you are a bit of a risk taker then I would consider some shares.
Google are looking strong and there is talk of another 15-20% this year.
Centrica is another good earner. Or you could take more of a risk and throw £5k into something like Dixons. Avoid penny shares etc - you want something thats fairly reliable. I would avoid gold for this reason.
Of course there is tax to pay (probably) so bear that in mind. Look at IWebsharedealing as they are quite cheap.

HTH!

Chip

It doesn't matter though if you offset the whole amount. I have a 50k mortgage but have 50k offset against it therefore my rate of 4.6 % becomes irrelevant, unless of course you start dipping into your savings that you offset against it.

Chip

Yeah shares are fine if you are prepared to lose your money though if your in for the long term your generally ok if you invest in so called "safe" shares. Take a look at high divi paying shares like as already said Centrica, Nat grid, Vodafone, SSE, Aviva etc.

billythekid

Indeed. I would not put it all into shares, but a small % of your funds - lets say 25% for round numbers... its a risk - but not a total risk.
Then as you say stick with a safe PLC, or two. Check the price every few days. Try and avoid buying before FY results. Sell after a good results report.

Its easy, when it goes well, just remember to take into account fees and tax.

Matteeboy

Any watches worth a punt? Do Breitlings hold their money? Got my eye on a ltd edition model (its not £10k but still a few grand).

Truss

iTrader: (2)

My dad bought a tag 9 years ago and has just traded it in for the same value as he bought it for. Not a private sale, he WOULD have got more.
I honestly wouldnt be investing it, if its too good to be true, it's probably too risky and you'll lose out. And for 3% I wouldnt be arsed at all.

stilover

I bought a Brietling years ago. It has gone up in value. However, I'd never sell it.

Matteeboy

I have a feeling I'd be the same.

This is the one I rather like:

Fantom

We have £10k, but we owe £174k on the mortgage!
The interest rate is very important for us

EddScott

If you have £10K to invest, want to take up to £200 a month and want more than high street rates then I'm not sure anything other than a S&S ISA will do the job. At least the only thing that will give you any chance of making the £10K last more than 4/5 years.

You could split it 50/50 Cash ISA S&S ISA but the Cash ISA will just drag the overall growth down.

legacy_gtb

iTrader: (3)

If i could go back in time 10 years with £10k id buy as many sunbeam lotus's and chevette HS's as i could find and ping them into storage ...... whats todays GA rally car?

Saab 900 carlsson???

Lotus esprit jps???

Or what about a pair of P1's????

Id put money (if i had any) on any of the above making more cash than any interest rate over the next 10 years .... game is knowing which!

EddScott

I wish I'd bought a Lancia Integrale EVO1 when I had the chance rather than another Impreza.

I was looking at £6.5K for a decent one and now the sheds from Japan are £20K.

Fantom

Well I've upgraded my current account to a sandanter 123 account which enables me to do a 2 year fixed ISA at 2.5%. As there's no tax that's better than what I'm getting now.
Will max that out and keep the rest in a normal savings.
I just can't risk investing it etc
Don't like the idea of premium bonds as I'd have to be lucky to make more than the ISA

So what's the cheapo car to buy now that will go up in value?

boomer

Ahh the Chevette HS - that was my dream car (many a moon ago, just before i got my licence), with a 0-60 of 8.6 seconds which is only "run of the mill" these days!

How things change?

mb

EddScott

Have you done your cash ISA for this year?

If not then the one you've done now will count for 12/13 and just do another one in April for 13/14

If its fixed for 2 years does that restrict withdrawals?

Make a date in your diary to review the ISA in 2 years. After the special rate they drop it to almost nothing.

Fantom

Not had an ISA for years. Just put £5640 into this fixed ISA. Yes withdrawals are restricted but I'm left with £4360 in an esaver getting 1.5%
I can move some more of this into another ISA on 6th April.

Think I'm pretty much sorted for the near future

stiscooby

I think the post 2 up from this one actually answers my question but..........

I have never had a ISA before and have 10k+ that I can put into something to earn some better interest than what it's getting now (this money is still in an old Abbey online savings account, which has since been changed to a Santander account, which I was saving money in when we was saving for a deposit on our house). This remaining money has been sitting in there for the last 3 years or so earning bugger all interest as the rates etc dropped some years ago but to be honest I haven't bothered doing anything with it but thought might be an idea to move it somewhere to get a bit of interest on it (I think at the moment its gets something stupid like 20p interest a month!! lol).

So, having a look at some ISA's (Santander seems to be one of the best at 2.5%), if I open one now before the new tax year starts, can I stick in £5640 now, then in a few weeks when the new year starts can I then put in another £5640 to give me over 11k in a ISA (or move it to anoter account depending who's giving the best rate etc)? Rather than leaving it a few weeks and then only having £5640 in for the next year?