oik
Member of DD Central
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Post by oik on Jul 5, 2017 11:50:57 GMT
Tesco looking more promising by the minute! Seems even RBS are doing their bit. Their Ulster Bank now offering 1.25% on up to £5m with instant access via FP using internet, phone or phone app. And the warm and cuddly FSCS. (Not to mention all those current accounts and regular savers around @ 2%-5%, several offering £100 upwards just to transfer in an account.)
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Post by codliveroil on Jul 5, 2017 12:24:33 GMT
Whilst we are discussing low rates, some wishfull people have money sitting at 20%!
What's the chances of that getting matched?
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Post by ruralres66 on Jul 5, 2017 15:37:32 GMT
Serious proposal- student loans run at 4 % approx and are to be raised( allegedly) soon to 6.1%- offer money to students direct- now that's an ethical investment!
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adrianc
Member of DD Central
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Post by adrianc on Jul 5, 2017 15:42:01 GMT
Serious proposal- student loans run at 4 % approx and are to be raised( allegedly) soon to 6.1%- offer money to students direct- now that's an ethical investment! Minor detail... Student loan repayments are frozen until a certain income level, and forgiven completely after a period.
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Post by codliveroil on Jul 5, 2017 15:42:33 GMT
Wonder what the default rate would be?
I belive that most students don't pay back all of their student loans, the tax payer picks up the bill.
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Post by WestonKevTMP on Jul 5, 2017 16:08:28 GMT
Wonder what the default rate would be? I belive that most students don't pay back all of their student loans, the tax payer picks up the bill. Arguably the tax payer should pick up the bill for University education anyways....
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Post by ruralres66 on Jul 5, 2017 16:10:19 GMT
Repayment kicks in at "graduate salary" of £21,000 per annum I believe. There will be lots of graduates who aspire to rates better than this!
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mickj
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Post by mickj on Jul 6, 2017 8:09:03 GMT
Yes, pay back of student loans 9% of income above 21k - like NI with a higher threshold, so if income is not much above 21K what you are paying back is not much and loans will attract interest and grow quicker (3%+RPI = approx 6%), any outstanding wiped off after 30 years. More Info at MSE
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Post by yorkshireman on Jul 6, 2017 11:35:41 GMT
Wonder what the default rate would be? I belive that most students don't pay back all of their student loans, the tax payer picks up the bill. Arguably the tax payer should pick up the bill for University education anyways.... Why should taxpayers be paying for degrees in meja studies and peace studies? The latter don’t appear to have had many positive results in Syria and Iraq etc. in this decade alone.
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Post by nutfield on Jul 6, 2017 14:10:00 GMT
Why should those who dont go to University pay taxes for those who do to have a three-year party? This was the description by my grandson - who incidentally got a first class degree at Birmingham Uni.
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Post by codliveroil on Jul 6, 2017 14:22:31 GMT
Why should those who dont go to University pay taxes for those who do to have a three-year party? This was the description by my grandson - who incidentally got a first class degree at Birmingham Uni. I agree, with the amount of young people going to univeristy the degree isn't going to be worth the paper it is written on, nevermind £9k a year.
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alender
Member of DD Central
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Post by alender on Jul 6, 2017 14:49:53 GMT
Perhaps we can have a degree on how RS sets it's rates and the contemporary definition of a market.
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Post by GSV3MIaC on Jul 6, 2017 15:46:21 GMT
Perhaps we can have a degree on how RS sets it's rates and the contemporary definition of a market. We could, but it'd have to be a D Phil at least; no way could you explain that during a mere 3-4 years of partying. 8>.
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ashtondav
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Post by ashtondav on Jul 7, 2017 10:28:27 GMT
Meja studies. That's a new one for me
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Post by stevepn on Jul 7, 2017 16:31:55 GMT
IMO RS rates are well below the Risk/Reward ratio for investment. I am pulling out all funds when repaid and putting into AC, Landbay and Growth Street short term accounts although Growth Street is not worth it at present as there is too much money so funds are not being lent out for a time losing interest. All of these have provision funds which seem to be in a healthier state than RS's PF but as PF information is not easy to compare it is difficult to really know, also no early repayments which happens at lot at RS if you are manage to get a good rate. Also bought some shares in my ISA, P2P Global (yields 5.5%) and Ranger Direst Lending (yields 11%) investments trusts which specialise in P2P type lending, both are trading at a discount. As the Fed is raising rates, a number of member of the BOE Monetary Policy Committee are voting for a rate rise and political uncertainty I am reluctant to commit to any long term investments. £30m of free cash waiting to matched today - less than £5m of demand - means rates are only going down again. I'm still removing all maturing contracts.
Similarly my money is going into RDL (at an all time low today due to Invesco selling a small amount of their stake) and yielding over 12% and today is last day to catch the dividend paying in July which gives you a return of over 3% if you hold for a day!
For platforms I'm going into Archover - 12 months at 7% with insurance to protect you, or 24 months at 8.5%, security but no insurance.
I have just joined Archover and got 6.75% for 9 months.
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