What are you all up to
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Another disappointed Nationwide, amongst others 😉, tart rate that's me 😏 customer. Only recently shifted one of OH's ISA into his loyalty ISA cos the rate was better 😯.
The only ones offering reasonable rates are ones I have no experience of including Shawbrook, and like Tammygirl I'm pleased to know someone uses them.
Got a fixed term account maturing with Metro Bank, they've got a reasonable rate, but will it still be on offer on maturity? Added to which I do a 12 month regular saver that I wanted to add to it. Because of last years 'events' I got out of sync and that doesn't mature until a week later 🤔.
All those years of paying a mortgage at really eyewatering interest rates and now we have a bit put by 😭😭😭
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I was in a queue as well brue but it didnt take too long thankfully. I dont feel the need to order a food parcel yet but it is worth knowing. I have ordered wine from them in the past.
WN and TG we have 2 cash ISAs with Nationwide plus Loyalty Saver and 2 Flex accounts 😡. We have been customers for many years. I will see if I can get the courage and enthisiasm to change. OH doesnt do the internet so it is all down to me. ☹
Basil seeds, pepper seeds and chive seeds planted today. Lettuce and sweet peas doing well. One of the houses opposite us is up for rent and the owner has contacted us to say we can use the bin there to dispose of some of pur garden rubbish 😊
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Well it didn't, after being on charge again till early afternoon it was as dead as a Dodo! Looks like a new battery, but I'll have to get the car out of the garage first somehow. Being an automatic not the easiest of things to do. Have called my Tyre Guy who says he can get a battery and will come and see what's what tomorrow. Just hope that all that's wrong with the car.
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FaceTime with DD and Callum before dinner, they had an "incident" at lunch time. A brick which has been holding plastic sheeting down over their leaky roof was blown off the roof and smashed into one glass panel on their terrace balustrade. So that is now in smithereens. They are not having much luck at present!
OH ventured out to Aldi this afternoon as we needed milk and a few other things, She also tried to go to Waitrose, opposite, but a huge queue there.....again.....third time she has found that.
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A great sunny day, little wind so almost warm. Found this in my travels on foot. This was on the site of B pit, only about half a mile from the pics I took of F pit a few days ago.
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We too have the majority of our savings with the Nationwide. I've been with then since it was the Co-operative Permanent BS. I must admit that I'm reluctant to shift all our cash from them as they have certainly looked after us during all the time we've been members. However I do think that I should be spreading the risk about a bit more and will certainly overlooking at Shawbrook as an option. Will have to see what MSE has to say about saving rates too.
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Nellie, OH says according to MSE, Shawbrook is the one to go for followed by Coventry.
We have moved our regular savings from NW to Coventry already as there rate is much better.
We need to do the ISA's next then think about our Loyalty account look for something for that as well, might end up putting that into another couple of ISA's.
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I too have a regular saver with the Coventry, the best rate I could find at the time. Same for us with ISAs, although standard fixed term saving rates are frequently higher still. I think a bit of mix and match are the best options these days. I can remember saving rates of 15% +....those were the days, especially with a fixed rate mortgage.
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Our walk today took in views of the Southern Lakeland Fells, the Isle of Man, Blackpool Tower, Forest of Bowl and Tops, Ingleborough and the Howgills. Bright and sunny but still a cool breeze in the morning, which died down somewhat in the afternoon. I finished waxing the caravan too, so onto something else tomorrow.....maybe helping OH to make a couple of TGs face masks.
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We have a couple more ISAs due next month with Coventry so it will be interesting to see what happens in a months time.
Don't want any more with Shawbrook. Have enough already there and like to spread things around.
Must admit some of the reviews of Shawbrook aren't that good with regard to customer service but for straightforward investments that you can manage online they've never been a problem for us and the Customer Service team have always, up to now, sorted any minor glitches out.
Just hope all banks etc get through this financial mess. Best to have one with some protection.
Best go with what feels best for yourselves and your circumstances.
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Margaret must have been with Nationwide for at least 50 years!! I remember the Spanish Inquisition when we first applied for a mortgage 49 years ago and it was only for £4000!!!
Unfortunately both our ISA's have taken a battering over the last few months with the new kitchen and conservatory so despite the rock bottom rates I don't think we will achieve any great return by moving them. Probably by the time we got round to doing it the rates will have no doubt gone back up again!!!
David
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The bank rate is so low, I moved some savings for OH and they went down a week later. I've gone for short term fixed rates and Premium Bonds nearly always bring in something. I'm wondering how this will all pan out after the covid19 crisis, not good for us savers that's for sure.
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There is a solution for the UK Government to finance the Coronavirus [eventual] cost without imposing crippling levels of taxation; and it has the advantage that those with savings would be able to get a decent rate of return instead of sticking with the disgraceful offerings from Banks and Building Societies.
George Soros, the multi billionaire investor who made his fortune by spotting this type of opportunity, has written an article suggesting that the EU issues 'Perpetual Bonds' [i.e. no fixed redemption date], borrowing an idea used by UK to finance the Napoleonic Wars and, later, the First World War; 2.5% Consolidated Loan Stock '[Consols'].
The investment would be a Government Gilt Edged Stock ['Gilts'] so could be traded on the Stock Exchange so investors could cash in if capital were required, and any capital gain would be free of UK taxation.
I remember dealing with these investments nearly 50 years ago not long after joining the Bank, but was never told the background to the Stock, which was often held alongside ['people who bought Consols also bought .... style of thing] 3% War Loan Stock 1910 [though the original 1910 redemption date was waived and it became a Perpetual Bond].
The article is in the Guardian: https://www.theguardian.com/business/2020/apr/21/eu-should-use-perpetual-bonds-to-finance-covid-19-recovery-fund.
If nothing else, it gives figures to contemplate that don't relate to coronavirus deaths ...
Steve
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David Klyne,
Margaret must have been with Nationwide for at least 50 years!! I remember the Spanish Inquisition when we first applied for a mortgage 49 years ago and it was only for £4000!!!
I remember those days well. Pre Sex Discrimination Act et seq, when borrowing limits were 3 x husband's main income, 1 x regular overtime, and, as a later development as house prices 'soared' past £10,000, 1 x wife's income [but only after establishing that SHE [never asked the husband!] had no plans to start a family in the forseeable future!
Bankers would [rightly] be hung drawn and quartered for that style of questioning now.
And then, as house prices continued to increase, an 'innovative' alternative of 'or 2.5 x joint income, excluding overtime' was introduced. How many times did we suggest to the customer that they ask their boss to add regular overtime and guaranteed bonuses into the required 'Confirmation of Salary' Employer's Declaration? ...
In a grim throwback to the mid 1970s, I was trying to get a mortgage agreed by a local Building Society for a local authority gravedigger whose income wasn't really enough to raise about £11,000. 'If the Building Society will take overtime into account,' the gravedigger said, 'I'll just have to pray for a cold winter, 'cos the cold always does for the old 'uns' ... Strange how these episodes surface from the depths of one's memory!
Steve
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I see NS&I have reversed their decision to cut interest rates on their variable rate products. This includes Premiun Bonds and their Direct Saver account.
It's done this, they say, to help people through this difficult time. Nothing to do with the Govt using NS&I to raise capital then?
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Trying not to panic 😱😱.
Spent an age ensuring all phone photos on SD card. Photo memory ri ning very tight to limit for a while. All appeared to go well, big saving of memory. Now cant find any photos and the gallery doesnt have random photos I've taken as a test 😭.
Just done turn off and it wouldn't got into a loop so I've removed the battery and hoping for the best.......... no I hadnt backed up elsewhere 🤐😭
Made a cake and now gardening but cant settle to any of it. Not even excited about my Tesco online delivery this afternoon!!!
Edit just put phone back together no has today's WhatsApp and only image on my device but message saying SD Card not supported. More panic and thinking without settling to the tasks I tackle. Memory used still as it was after move so they can only be on SD card 🤞🤞🤞🤞. Yes its storing new photos.
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As a long term investment it might be worth considering buying shares. I’ve got my eye on a couple that might be worth a punt.
Bright sunny day here but the Easterly wind has some bite to it. Plenty of activity in the harbour. Had about 7000 tons of cereals imported in the last week or so. The offshore wind farm construction jack up ship is loaded with another 4 turbines, guess their waiting for the wind to moderate. Lots of police on the beach, guess their looking for a young woman who has gone missing, hope they find her soon.
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Nice and sunny here but a chilly northern breeze. OH did the click and collect, not so good today, too busy, neighbours have their food now so they're ok for another week. I'd forgotten about the "free" newspaper with Waitrose but disappointed this didn't include the ipaper so went for the Guardian which just isn't the same...never mind, at least there's a crossword to do.
Sitting here feeling a bit tired, the household woke early today, dawn chorus in full swing.
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Doubtful, TW, although 'Every little helps' as the saying goes. PSBs account for around 12.5% of the Government Debt financed by Quantitative Easing ['QE'] and the cost of the Employment Support Package under the Job Retention Programme is estimated to be £10-13 billion per month.
Government has a 'standby' overdraft limit with Bank of England that can run to £20 billion and there was a significant 'Gilts' auction about 10 days ago that raised some £45 billion.
Further QE financing will follow as will Gilt auctions. The Perpetual Bonds that George Soros has written about today [in respect of the EU] may also be resurrected to help finance the cost of COVID 19. Quite possible that PSBs limits will be raised again,of course, but at the minute, the odd £80 billion will 'only' finance 6 months of the Employment Support Scheme at the upper end of the estimated cost range.
The numbers will take 'eye watering' to a level never before seen.
Steve
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We were also with Nationwide, was it not the Co-operative Building Society originally? Our first mortgage with them back in 1970 was £4500, our next in 1975 was £11000, and the one on which the rate peaked at 15%.
In 1987 we decided to buy a plot and have a house built, but Nationwide would not lend for that, so we moved to Halifax. That mortgage ended up being £45000 as MIL decided to move in with us, in a granny flat, and put in the money from the sale of her house, something that would be extremely difficult to arrange these days, plus we had a fair amount over from the sale of our house.
Changed days now, the youngsters need worryingly huge loans. I think DD and SIL were on 4.5 or even 5 times joint income when they bought 2 years back, fortunately only a 60% LTV, so they have a low fixed rate meantime.
We gave up on ISAs a while back as OH is not a taxpayer, and rates were better elsewhere, and now there is also the first £1000 each of interest tax free thing. Now that rates are so low everywhere, we will need to keep an eye on the situation.
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Kj
It was indeed the Co-Operative Building Society. It was just a few doors down from where we both worked. I have banked with NatWest for a similar period of time. When I got my first promotion one of the conditions was that I would be paid monthly rather than weekly so there was no choice but to have a bank account.
As far as savings are concerned I like access to them which tends to mean that you won't get the best deals. Once they get to a certain level of savings we start thinking of what we can spend them on next!!! If we really needed rainy day money there is always the value of the house that can be used for such times.
David
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My very large bag of flour has arrived in a very big box! Looks like FWP Matthews have caught up a bit. Will have to get the bread maker out...we've got an odd selection of bread in the freezer due to earlier orders and substitutions. Morrisons sent the best bread, nice crusty bakery bread.
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Just received an email from Admiral to say that because there are fewer cars on the road, they are experiencing fewer claims. As a consequence, they are refunding £25 per vehicle insured with them on 20/03/20! Two cars so a nice £50 bonus! Add to this the two small premium bond prizes I won yesterday and the staff room bonus ball lottery win a couple of weeks ago!
Think I’m going to get a lottery ticket this week!
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Lovely to hear some good news. Don't suppose it's a life changing amount, but then what is these days??? Hopefully you'll be able to find something to enjoy whilst in lockdown! Defo invest in a lottery ticket or similar and take good care of yourselves. Biggest lottery win these days is good health.
Delighted to here premium bonds do actually pay some folk 😂😂
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I was just about to ask whether your flour had arrived yet, brue!
OH was wondering about delivery charges. Is there a fixed charge, or does it depend on where you are and how big the order? She has looked on the website but could not find any details on delivery
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Much the same here. We have had DD's BTL flat mortgage since 2012, a private arrangement but all legally done, so less cash around now, so we like to mainly keep it accessible.
We are also moving any surplus down the generations, as far as is allowed within IHT rules.
Like you we have the house in reserve. We did consider downsizing a while back, but having been here 32 years, just the thought of the packing put us off, never mind all the furniture that would need to go!
Looking at the cost of moving......buying and selling costs, removal costs, stamp duty (which for us would be higher in Scotland than in England).......we decided we might as well stay put in the house we like and know.
Plus.....there is room here to keep the caravan!
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) depends how flexible you need to be.
