|
|
Post by df on Apr 29, 2019 11:34:17 GMT
Surprised that you dont invest in any of the big main p2p lenders eg ratesetter, funding circle,zopa. May i ask why ? I forgot to include Z and RS in my list of exited accounts as I left them several years ago. Nowadays I prefer secured loans. IMHO the rates they offer are not sufficiently greater than FSCS accounts to justify the higher risk - at least at my end of the investment level spectrum*. I have never looked at FC, mainly because of the many disparaging alternative expansions of the initials to be found in this forum. Should I take a look do you think?* Using family members I can get 3.83% on £60K with full government protection. No, it will be a waste of your time. The risk is too high for projected return. You'll be lucky to achieve above 3% and chance of crystallised loss is very high. My historical return is 1.9%.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011 
Likes: 1,013
|
Post by Godanubis on May 1, 2019 10:38:43 GMT
I forgot to include Z and RS in my list of exited accounts as I left them several years ago. Nowadays I prefer secured loans. IMHO the rates they offer are not sufficiently greater than FSCS accounts to justify the higher risk - at least at my end of the investment level spectrum*. I have never looked at FC, mainly because of the many disparaging alternative expansions of the initials to be found in this forum. Should I take a look do you think?* Using family members I can get 3.83% on £60K with full government protection. No, it will be a waste of your time. The risk is too high for projected return. You'll be lucky to achieve above 3% and chance of crystallised loss is very high. My historical return is 1.9%. A profit is a profit always a good thing 
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 7, 2019 21:54:02 GMT
Surprised that you dont invest in any of the big main p2p lenders eg ratesetter, funding circle,zopa. May i ask why ? I forgot to include Z and RS in my list of exited accounts as I left them several years ago. Nowadays I prefer secured loans. IMHO the rates they offer are not sufficiently greater than FSCS accounts to justify the higher risk - at least at my end of the investment level spectrum*. I have never looked at FC, mainly because of the many disparaging alternative expansions of the initials to be found in this forum. Should I take a look do you think? * Using family members I can get 3.83% on £60K with full government protection. Where can you get 3.83% with full government protection?
|
|
|
|
Post by gravitykillz on May 7, 2019 22:19:54 GMT
I presumed she was talking about Australia.
Not sure though.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on May 8, 2019 10:27:14 GMT
* Using family members I can get 3.83% on £60K with full government protection. Where can you get 3.83% with full government protection? It's a lot of small accounts. Most UK banks and building societies offer them, often for regular saving. It helps if you have a big family who are not interested in managing their own accounts. BTW I meant FSCS protection.
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 8, 2019 11:32:29 GMT
Where can you get 3.83% with full government protection? It's a lot of small accounts. Most UK banks and building societies offer them, often for regular saving. It helps if you have a big family who are not interested in managing their own accounts. BTW I meant FSCS protection. Ah I see. It would drive me crazy to open 10 bank account for 3.8% interest...
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on May 8, 2019 13:43:44 GMT
It's a lot of small accounts. Most UK banks and building societies offer them, often for regular saving. It helps if you have a big family who are not interested in managing their own accounts. BTW I meant FSCS protection. Ah I see. It would drive me crazy to open 10 bank account for 3.8% interest... It's actually quite easy and I understand littleoldlady 's perspective, particularly if you are retired and/or have the time. These accounts can be opened online in less than half an hour, and at, say, £2,500 per account, that's around £95 interest, which is equivalent to being "paid" £190 Tax Free (normally) for one hours work, and after that you get "paid" another £95 Tax Free pa for nothing. If I have got it right? Arithmetic is not my strongest point. cwah
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 8, 2019 15:08:38 GMT
Ah I see. It would drive me crazy to open 10 bank account for 3.8% interest... It's actually quite easy and I understand littleoldlady 's perspective, particularly if you are retired and/or have the time. These accounts can be opened online in less than half an hour, and at, say, £2,500 per account, that's around £95 interest, which is equivalent to being "paid" £190 Tax Free (normally) for one hours work, and after that you get "paid" another £95 Tax Free pa for nothing. If I have got it right? Arithmetic is not my strongest point. cwah In my mind, it's more like having to manage multiple bank accounts. Receiving 10X more paper. Login is usually a pain due to security. Then your account can be locked. And you need to verify identity. And you need to keep track for when the plan change. And fees. Just feels like load of hassle for this. But yeah if I was retired and had time I could consider
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on May 8, 2019 15:28:24 GMT
All true cwah . And I'll bet London To a Brick that littleoldlady has organised:- Receiving 10X more paper. - Register for Paperless Login is usually a pain due to security - Very rarely, if ever, do you need to login after you setup the Standing Orders paying IN from your "Core" account and the Standing Orders paying back OUT to your Core account. And you need to keep track for when the plan change - Alerts can be setup to Notify you. And fees - Just go for the "Fee-less" and utilise multiple relatives as I'm sure canny littleoldlady does. I'm sure you and most readers on here are aware of all the foregoing anyway, sorry for teaching you how to suck eggs. Just feels like load of hassle for this. But yeah if I was retired and had time I could consider - Horses for courses I suppose!  |
|
|
|
Post by df on May 8, 2019 15:43:49 GMT
It's actually quite easy and I understand littleoldlady 's perspective, particularly if you are retired and/or have the time. These accounts can be opened online in less than half an hour, and at, say, £2,500 per account, that's around £95 interest, which is equivalent to being "paid" £190 Tax Free (normally) for one hours work, and after that you get "paid" another £95 Tax Free pa for nothing. If I have got it right? Arithmetic is not my strongest point. cwah In my mind, it's more like having to manage multiple bank accounts. Receiving 10X more paper. Login is usually a pain due to security. Then your account can be locked. And you need to verify identity. And you need to keep track for when the plan change. And fees. Just feels like load of hassle for this. But yeah if I was retired and had time I could consider Not really "managing" May be because I was doing it for long time, but it it doesn't feel like hard work. Hardly any paper. Login is easy for most, but I don't have to do it very often. I've had locked online access to TSB account once, a bit of pain, but it was resolved. Good thing about banks is that you always get notified for maturity dates and any interest/T&C changes well in advance. The only one I have to pay fee for is Santander, but after cash back from utility bills it is around £2 a months, considering 5% on £200 per month (monthly saver) all together as a package works fine. Santander made a good move with reg saver - it is now automatically renewed as long as you keep your SO open-dated.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on May 8, 2019 17:15:53 GMT
In my mind, it's more like having to manage multiple bank accounts. Receiving 10X more paper. Login is usually a pain due to security. Then your account can be locked. And you need to verify identity. And you need to keep track for when the plan change. And fees. Just feels like load of hassle for this. But yeah if I was retired and had time I could consider Not really "managing" May be because I was doing it for long time, but it it doesn't feel like hard work. Hardly any paper. Login is easy for most, but I don't have to do it very often. I've had locked online access to TSB account once, a bit of pain, but it was resolved. Good thing about banks is that you always get notified for maturity dates and any interest/T&C changes well in advance. The only one I have to pay fee for is Santander, but after cash back from utility bills it is around £2 a months, considering 5% on £200 per month (monthly saver) all together as a package works fine. Santander made a good move with reg saver - it is now automatically renewed as long as you keep your SO open-dated. I have multiple accounts switched anually. Log in can be easy with fingerprint recognition or password managers. once set up they require no maintenance. The IPad I use was an investment incentive I got a few years ago. It takes very little time get up am hour earlier one weekend and get sorted.
I prefer the big wad of cash for switching M&S have ongoing additional £5 credit to shopping card. I get one annual paper statement usually just as I'm about to swap accounts. After 2-3 years you can flip back to the original bank and start the cycle again like the sum that goes round each account to meet the funding criteria. I keep one non flipped account.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on May 8, 2019 17:24:30 GMT
It's a lot of small accounts. Most UK banks and building societies offer them, often for regular saving. It helps if you have a big family who are not interested in managing their own accounts. BTW I meant FSCS protection. Ah I see. It would drive me crazy to open 10 bank account for 3.8% interest... TSB is 5% others give £100+ to swap. Use a form filler and password manager and it takes a few mins.
Buy your own domain for under a tenner and you have unlimited access to competitions. Amazon Prime is email address based so it can be free, Thousands of freebies are email based so you can get multiple items.
This is where a little effort can give great rewards
|
|
|
|
Post by df on May 8, 2019 20:58:36 GMT
Not really "managing" May be because I was doing it for long time, but it it doesn't feel like hard work. Hardly any paper. Login is easy for most, but I don't have to do it very often. I've had locked online access to TSB account once, a bit of pain, but it was resolved. Good thing about banks is that you always get notified for maturity dates and any interest/T&C changes well in advance. The only one I have to pay fee for is Santander, but after cash back from utility bills it is around £2 a months, considering 5% on £200 per month (monthly saver) all together as a package works fine. Santander made a good move with reg saver - it is now automatically renewed as long as you keep your SO open-dated. I have multiple accounts switched anually. Log in can be easy with fingerprint recognition or password managers. once set up they require no maintenance. The IPad I use was an investment incentive I got a few years ago. It takes very little time get up am hour earlier one weekend and get sorted.
I prefer the big wad of cash for switching M&S have ongoing additional £5 credit to shopping card. I get one annual paper statement usually just as I'm about to swap accounts. After 2-3 years you can flip back to the original bank and start the cycle again like the sum that goes round each account to meet the funding criteria. I keep one non flipped account. I switched to M&S for 5% reg saver and got this £250 shopping card and it gets topped up £5 every months. Haven't used it yet - there's no local M&S for convenient food shopping and I don't need anything else they offer on line. May be one day I will make an effort and redeem my bonus I hope there's no expiry date.
|
|
|
|
Post by gravitykillz on May 8, 2019 22:19:37 GMT
I was just thinking about switching to first trust for their 2.75% regular saver. Maximum monthly deposit £500
|
|
cwah
Member of DD Central
Posts: 949
Likes: 468
|
Post by cwah on May 8, 2019 22:47:27 GMT
Ah I see. It would drive me crazy to open 10 bank account for 3.8% interest... TSB is 5% others give £100+ to swap. Use a form filler and password manager and it takes a few mins.
Buy your own domain for under a tenner and you have unlimited access to competitions. Amazon Prime is email address based so it can be free, Thousands of freebies are email based so you can get multiple items.
This is where a little effort can give great rewards
I'm with lloyds tsb and i think they moved it down to 3% and up to £1500 max
|
|
