Saving tips and Finances
Comments
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Sounds good, not sure how it works though, say we go green and neighbours not, do you have to have different cable. Excuse me for being "thick".
This is not a criticism of your choice Brue. Technology is moving so fast it's hard to catch up with what you can and cannot do, or can or cannot get.
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All electricity in New Zealand is hydro, so green, but they use that and petrol/diesel with gay abandon. Don't get me started on plastic wrapping or recycling there 😤😭😤😭😤. They promote their green and pleasant land as paradise but if the carry on the way they do it won't be for long. Pointless
Edit whoops thought this the pointless thread 😮. Put it down to jetlag! Copied onto pointless thread. Nothing more annoying than wondering what a post said when it now reads 'content removed'
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Just beginning to get my head back so sorting out accounts that matured in our absence. Reinvested 2 fixed term accounts with Metro Bank for 1 year fixed term at 1.65%. Other terms available from 3 months to 5 years, rates change accordingly.
Now have to look at our Virgin matured accounts including ISA's. Metro Bank offering fixed term 1 year 1.25% and longer terms with higher rates. If you have Nationwide accounts they are offeing 1.4% variable on ISA with one withdrawal in 12 months. Virgin rates not looking so good.
Much to ponder over this weekend.
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For a 5 year fix, we would hope for a fair bit more than 2%, inflation must be over that now.
We have a 1 year Nationwide @ 5% but only on £2500, then instant access BOS 2% on up to £30k between us. Lloyds the same on £15k.
TSB give us 3% on up to £9k, and Santander is 1.5% on up to £20k each, maybe more.
As OH pays no tax, most is in her name, plus I can have £1k interest tax free.
Keeping an eye on Metro Bank, also useful when abroad.
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We have NS&I finishing in May, then several up to 5% monthly savers through to October, so OH is busy organising accounts to receive those.
The new Grandson will be given what the existing 2 grandchildren have, so we need to sort that after this trip, that will use up our IHT gift allowances for this year.
Working hard to exit this life with very little left!
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Keeping an eye on Metro Bank, also useful when abroad.
Yes I saw free European use on their screen whilst doing our business. We have Nationwide allowing free use worldwide.
I agree I'd want more 2% for 5 years, quite like Nationwide loyalty ISA at 1.4 % variable so any rate rise would hopefully be passed on. Added bonus of 1 withdrawal a year. I don't currently pay tax but would prefer to retain tax free savings just in case 😮 I qualify to pay tax again 😢.
Had 3 x 5% savers mature since January, reopended 2 but can only put £250 per month as against last year's £500 😢. Got one more to do online this weekend.
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Yes gone up to ? £20,000 cash. I've stayed away from ISA as you say able to do better. But have fixed term ISA each which matures now so need to consider mine. OH pays tax and has £1000 interest tax free, just requires a bit more thinking! Also need to think about accessing should it be necessary 😲
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We used some of our ISAs to buy solar panels, which gives us a good return, and the rest OH loaned to DD on a BTL mortgage. Win-win as OH gets more interest than the banks pay, and DD has a flexible loan at less than the banks charge.
Works for us all meantime. If we need the money back, she can always get a mortgage from a bank as her LTV is low.
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I decided to go with Engie (a revamped older supplier.) The Bulb offer was better but was a variable rate, I wanted to fix for a year on dual fuel. They will also offer their best cheaper tariff at the end but I will be on the look out for other deals. The annoying thing was Greenstar, who have let our account go without offering new alternatives and telling us we'd be on a higher rate. After they heard I'd left they offered a better rate, a quick way to lose business, like the insurance companies who do the same.
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Transferred our ISA's to Nationwide Loyalty paying 1.4% variable, so if the rates go up we should benefit too, last week. All paperwork sorted and we collected the passbook yesterday. Mad-est part opened in branch, transfer from Virgin requested etc and informed once you receive the paperwork confirming the amount you can call in for a passbook. So we do - however to issue the passbook they have to declare the non existing passbook 'lost' BIZARRE. However all sorted.
Just one more appointment on Friday to change an existing Virgin account where they've reduced the rate to one paying more. Can' just change it over on a whim got to make the appointment and turn up with 2 forms of ID despite knowing most of the branch staff over years dealing with them.
Saved a tenner a onth as a result of chatting to the Sky folk in the shopping precinct. Our Virgin costs have gone up and up over the years, but we like the service, so got a price. Phoned Virgin, upgrade to V6 box new router free of charge, tenner a month off, 18 month contract. Glad we didn't have to change supplier as they can't guarantee you can keep your landlines number!
So feel we've had a good spring clean.
Also did a couple of fixed bonds with Metro Bank, good rates - I think I may have mentioned them earlier in this thread but can't check and don't want to loose what I've typed so far.
I've just got gas and electric to sort, fixed deal ends June so a bit of breathing space.
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Over the past few years I have always considered an ISA rate of 1 - 1.5% an insult and have gone for a stocks and shares ISA. Am prepared to wait out the market fluctuations and am pleased with the tax free profits so far.
It does require nerves of steel not to panic when there is a sudden drop but as there is no immediate call for funds by the kids, I regard the risks as paying better.
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Redface were reaching the age where we perhaps won't be waiting for the long term resulrs to kick in before requiring some of the funds. I agree rates are pathetic. But OH extremely cautious and wouldn't entertain that sort of ISA. I hope yours continue to perform.
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