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Savings and Investments thread
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Friend who runs a trading desk says they are kerplunk.BigRedEvil said:Rumours of credit suisse being in trouble
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My best PB returns for a while... 2 x £100 and 1 x £25...1
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Oddly their I year fixed rate for an ISA is less at 3.5%. Not sure why the differnece although still a decent rategolfaddick said:Virgin Money are paying 4% on a 1 year fixed rate.
I have some money coming from my house sale. I'll be maxing out the PB's and then some into an ISA with the rest in a 1 year fixed rate bond. Will need the money in 1-2 years for a new house purchase.0 -
Tax free!redman said:
Oddly their I year fixed rate for an ISA is less at 3.5%. Not sure why the differnece although still a decent rategolfaddick said:Virgin Money are paying 4% on a 1 year fixed rate.
I have some money coming from my house sale. I'll be maxing out the PB's and then some into an ISA with the rest in a 1 year fixed rate bond. Will need the money in 1-2 years for a new house purchase.0 -
Another green day for Ftse100… told ya it was the local bottom3
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Because they know loads of people will put money into an ISA no matter what interest they are (not) getting.redman said:
Oddly their I year fixed rate for an ISA is less at 3.5%. Not sure why the differnece although still a decent rategolfaddick said:Virgin Money are paying 4% on a 1 year fixed rate.
I have some money coming from my house sale. I'll be maxing out the PB's and then some into an ISA with the rest in a 1 year fixed rate bond. Will need the money in 1-2 years for a new house purchase.0 -
I hope all those that pulled out of the market last week aren't still sitting on the sidelines. FTSE100 up 2.5% and the main European markets up around 4%. Dow Jones currently up 2.4% and the S&P500 up 2.7%.kentaddick said:Another green day for Ftse100… told ya it was the local bottom
As I've said before, it's very hard to time the markets. Best just to ride it out & wait for the gains to come along again.2 -
I’m pleased to stand corrected then.bobmunro said:
FCS protection - and Secure Trust are a UK bank and have been going for 70 years.PragueAddick said:
And thanks for a very good tip. Hard to see that being bettered for a few weeks at least.0 -
But mate, it fell about another 3% after you called it! 😆 That may not sound like much for a cryptobro of course😉kentaddick said:Another green day for Ftse100… told ya it was the local bottom
I actually did dip in and buy yesterday, bundle of five equities with good income prospects, and just for once I timed it nicely. But I’m old enough to know that this time next week they can be back in red numbers - more idiocy from Truss, Putin dropping something nasty, Credit Suisse rumours having legs….0 -
How's DLG doingPragueAddick said:
But mate, it fell about another 3% after you called it! 😆 That may not sound like much for a cryptobro of course😉kentaddick said:Another green day for Ftse100… told ya it was the local bottom
I actually did dip in and buy yesterday, bundle of five equities with good income prospects, and just for once I timed it nicely. But I’m old enough to know that this time next week they can be back in red numbers - more idiocy from Truss, Putin dropping something nasty, Credit Suisse rumours having legs….
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Bit of an odd situation, appreciate any views.
I am the beneficiary of a will currently concluding the sale of a number of share holdings. One such shareholding is in bank of Ireland. The estate is being administered in the uk.
the solicitor is struggling to sell the bank of Ireland shares, despite it seems contacting the registrar and Irish based brokers - they appear unable to assist despite having the certificate probate ect.
the solicitor thinks it’s due to the modest holding size
It seems a little inexplicable that they can’t overcome this issue and conclude the estate
has anyone any thoughts, tips or suggestions as to what this solicitor isn’t doing or should do to conclude the share sale0 -
Why does the solicitor have to sell the shares?
Can't you sign an indemnity or some such and instruct him not to sell the shares?
You could then deal with this at your leisure?1 -
Good question, I should add I’m not the sole beneficiary and for whatever reason for this or other holdings which there were many the option of retaining them wasn’t ever mentioned they have all apart from this been sold.Covered End said:Why does the solicitor have to sell the shares?
Can't you sign an indemnity or some such and instruct him not to sell the shares?
You could then deal with this at your leisure?
im not sure if this was at the direction of the executior as I’m unfortunately not on speaking terms with these family members0 -
I was under the impression that unless specifically identified within the Will, like family watch or House etc, all Assets are liquidated. As bank accounts closed, insurances claimed and investments moved to cash. Found this on WebCovered End said:Why does the solicitor have to sell the shares?
Can't you sign an indemnity or some such and instruct him not to sell the shares?
You could then deal with this at your leisure?Do you have to sell shares when someone dies?If someone owned shares at the time that they died, then these will be included as part of their estate and they will need to be sold or transferred as part of the estate administration.
However, this should not hold up the estate being paid out. Whilst issues remain outstanding, interim payments can be made.3 -
Thanks Ralph, they passed without a will and the solicitor has made interim payments over a period of nearly three years from the date of probate with the remaining seemingly hinging on this final sale after they gathered the certificates and other proofs.RaplhMilne said:
I was under the impression that unless specifically identified within the Will, like family watch or House etc, all Assets are liquidated. As bank accounts closed, insurances claimed and investments moved to cash. Found this on WebCovered End said:Why does the solicitor have to sell the shares?
Can't you sign an indemnity or some such and instruct him not to sell the shares?
You could then deal with this at your leisure?Do you have to sell shares when someone dies?If someone owned shares at the time that they died, then these will be included as part of their estate and they will need to be sold or transferred as part of the estate administration.
However, this should not hold up the estate being paid out. Whilst issues remain outstanding, interim payments can be made.
they seem to want to conclude the sale of this holding to close the estate fully and have prepared accounts
the info I’ve been given has been wholly patchy so just trying to help move things along as seems a weird situation to get stuck on for the last 6 months or so0 -
Stellar start, in profit in 24 hours even after fees and stamp duty. But has of course given up a bit so far this morning as have the main UK indices. Clown shows are not good for stocksRob7Lee said:
How's DLG doingPragueAddick said:
But mate, it fell about another 3% after you called it! 😆 That may not sound like much for a cryptobro of course😉kentaddick said:Another green day for Ftse100… told ya it was the local bottom
I actually did dip in and buy yesterday, bundle of five equities with good income prospects, and just for once I timed it nicely. But I’m old enough to know that this time next week they can be back in red numbers - more idiocy from Truss, Putin dropping something nasty, Credit Suisse rumours having legs….
I bought some L&G at the same time. As a biz I feel more comfortable with it than DLG, but it is more exposed to the pension issue, so it will be interesting to compare how they do. Currently L&G has given up more this morning. Clearly the teenage traders dont have the benefit of @Dippenhall wise counsel 😉0 -
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I timed it very nicely, thanks :-)golfaddick said:
I hope all those that pulled out of the market last week aren't still sitting on the sidelines. FTSE100 up 2.5% and the main European markets up around 4%. Dow Jones currently up 2.4% and the S&P500 up 2.7%.kentaddick said:Another green day for Ftse100… told ya it was the local bottom
As I've said before, it's very hard to time the markets. Best just to ride it out & wait for the gains to come along again.
The Jackson Hole announcement was the time to dip out of the market, as I said at the time. And last week was the time to get back in, for a short while.
But you're right, not generally a good idea to time markets.
But this is a bear market and if I were looking to enter the market, I would be drip feeding in.0 -
I don't understand why he has been having difficulty selling them if he has the cetificate and probate. Bank of Ireland is a quoted company in both London and Dublin. Shouldn't be a problemJon_CAFC_ said:
Thanks Ralph, they passed without a will and the solicitor has made interim payments over a period of nearly three years from the date of probate with the remaining seemingly hinging on this final sale after they gathered the certificates and other proofs.RaplhMilne said:
I was under the impression that unless specifically identified within the Will, like family watch or House etc, all Assets are liquidated. As bank accounts closed, insurances claimed and investments moved to cash. Found this on WebCovered End said:Why does the solicitor have to sell the shares?
Can't you sign an indemnity or some such and instruct him not to sell the shares?
You could then deal with this at your leisure?Do you have to sell shares when someone dies?If someone owned shares at the time that they died, then these will be included as part of their estate and they will need to be sold or transferred as part of the estate administration.
However, this should not hold up the estate being paid out. Whilst issues remain outstanding, interim payments can be made.
they seem to want to conclude the sale of this holding to close the estate fully and have prepared accounts
the info I’ve been given has been wholly patchy so just trying to help move things along as seems a weird situation to get stuck on for the last 6 months or so1 -
Jon_CAFC_ if the shareholding holds so little value, what actually is the value?
How many shares are there to sell?
Would the proceeds be swallowed up by the cost of sale?
If it's a trifling amount, as I said earlier, can't the beneficiaries sign a disclaimer or indemnity or such like?
Ask the solicitor how to get round this, there must be an answer, you can't wait "forever".
This is what I do and they've always had a solution, just never offered it until I asked/prompted them.1 -
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L&G are the main players as counter-party to pension funds wanting to hedge against interest rate volatility. They caused the panic themselves by calling for pension funds to cough up immediately with additional collateral to cover the sudden exposure L&G had as the gilt price rapidly fell and went screaming to the B of E fearing pension funds might not immediately have the cash they needed. With hindsight, and what they seem now to be doing, going by their messages, is to give some breathing space to allow an orderly sale by pension funds of the surplus assets they hold or re-arrange the collateral terms, there was never a risk pension funds didn't have the assets to pay. They are strong enough in capital reserves to cover short term cash needed to cover their positions in the market rather than make pension funds forced sellers and worsen the position for L&G, the biggest players in the gilt market.PragueAddick said:
Stellar start, in profit in 24 hours even after fees and stamp duty. But has of course given up a bit so far this morning as have the main UK indices. Clown shows are not good for stocksRob7Lee said:
How's DLG doingPragueAddick said:
But mate, it fell about another 3% after you called it! 😆 That may not sound like much for a cryptobro of course😉kentaddick said:Another green day for Ftse100… told ya it was the local bottom
I actually did dip in and buy yesterday, bundle of five equities with good income prospects, and just for once I timed it nicely. But I’m old enough to know that this time next week they can be back in red numbers - more idiocy from Truss, Putin dropping something nasty, Credit Suisse rumours having legs….
I bought some L&G at the same time. As a biz I feel more comfortable with it than DLG, but it is more exposed to the pension issue, so it will be interesting to compare how they do. Currently L&G has given up more this morning. Clearly the teenage traders dont have the benefit of @Dippenhall wise counsel 😉
A small pension fund I know well that hedged 80% of interest rate volatility saw its assets fall in value from £50m to £35m. Its liabilities also fell by £35m so nothing changed, and is still 100% funded - such is the smoke and mirrors of pension funding.
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FTSE 100 back below 7000…..0
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DLG Stil climbing thoughPragueAddick said:FTSE 100 back below 7000….. 1 -
It’s not looking good bruvPragueAddick said:FTSE 100 back below 7000…..2 -
It's got a couple more weeks of BOE intervention to go before we can see if things have stabilised. Once the BOE stop their QE we can then see where we stand. Imho lenders base rates don't reflect the true situation & if the BOE raise interest rates in line with their stated policy then hopefully mortgage rates will begin to fall back a bit next year. A 2 year fixed at 5% is not a true reflection on overall lending - esp when the base rate is 2.25%.
Hopefully this will then settle the market & growth can begin (again).2 -
Mortgage Update.
The Halifax (one of the biggets & well know lenders in the UK) have just released their new rates starting Monday
2 year fixed START at 6.19% (up to 60% LTV) and go up to 6.59% (for 90%)
5 year fixed are lower at 5.74% and go up to 6.15%.
just remind me what the BOE base rate is.........oh that's right, 2.25%.
Anyone not securing a mortgage deal/offer before the start of this month is now royally screwed.0 -
1 x £100 and 1 x £50 on the PBs this month. Think that’s the first time I’ve managed a £100 ☺️3
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My two year fixed rate but no has just ended and I’m looking for a one or two year one with monthly interest paid. Having trouble finding one ! Any ideas?0
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Nationwide has just issued some very good rates. I got 4% for 1 year fixed. However I don't think there was option of monthly interest.Arsenetatters said:My two year fixed rate but no has just ended and I’m looking for a one or two year one with monthly interest paid. Having trouble finding one ! Any ideas?
The other option for year is to keep back enough for interest. Example. Lets say you had £10,000 to invest, at 4% invest interest would be £400. So invest £9,600 instead at the 4% and you could use the £400 for your monthly needs.2 -
Rising interest rates will bring about in new problem for many people. since 6/4/16 interest has not been deducted at source. A basic rate tax payer can earn £1,000 interest before they start paying tax, £500 for higher rate payer. When interest rates were measley this wasn't an issue for many. As interest rates rise it becomes more so. To earn £1,000 at 4% you only have to invest £25,000; compared to £100,000 at 1%. The onus is on the taxpayer to declare it and complete a tax return. Penalties could arise for non compliance.0
