revtothelimit - motorbike forum

A sweet, sweet ton.

I tried to take £5k out today to pay the maximum 10% off the mortgage.

Got logged on, went to the cash in screen, entered the value and it started asking me silly security questions, which I got wrong and it's now locked the account, I will be sent a letter in the post with details of how to unlock it. Ho hum.

Must of thought you're a wrong un...

Sister-in-law has £30k which has consistantly performed well above the £100k wifey and I had. Most months she'd double what we got, she got £250 this month.

We got nuffink because we closed the account last month and went for a high interest account instead.

Last 2 draws no win...might give this a go.

Managed to get my security reset on the dog and bone, only spent 36mins in a queue.

£50

Nowt.

The £20k I took out to put in savings has done nothing either, it's sat in a 0.55% savings account waiting for a bond to be set up.

I've waited three weeks so far for the Cahoot setup, after two weeks I applied for a Vanquis one and that's not been setup yet either.

Apparently due to extreme demand!

This months jackpot winner has £3k in bonds.

KungFooBob wrote: Thu Feb 02, 2023 9:17 am Nowt.

The £20k I took out to put in savings has done nothing either, it's sat in a 0.55% savings account waiting for a bond to be set up.

I've waited three weeks so far for the Cahoot setup, after two weeks I applied for a Vanquis one and that's not been setup yet either.

Apparently due to extreme demand!

I've currently got a chunk earning 4.5% - several chunks in fact, we've staggered the terms so we don't go over the £1k interest limit in any one tax year.

Also moved a chunk into a 3.5% (semi) easy access account. We've had to split stuff up between me and Mrs. to maximise our tax free allowances. I say "semi" easy access because you can only do 10 withdrawals a year before you lose the 3.5%, but i'm not planning to make any withdrawals so it should be fine.

My old mum wants me to invest a few quid for her - 5k now and another 5k in a few weeks. Was going to drop it into premium bonds but not sure now, considering how saving rates are rising?
Would rather easy access, so not wanting a fixed term bond but keen to hear what the resident experts suggest. Could ask my missus but that's boring

v8-powered wrote: Thu Feb 02, 2023 1:25 pm My old mum wants me to invest a few quid for her - 5k now and another 5k in a few weeks. Was going to drop it into premium bonds but not sure now, considering how saving rates are rising?
Would rather easy access, so not wanting a fixed term bond but keen to hear what the resident experts suggest. Could ask my missus but that's boring

Fixed term bond? I've just run the numbers on a pension pot I have that is supposed to be in the 'safe, low risk' phase. (It's one of those Lifestyle things that taper the risk down as you approach your desired retirement date then move it into a SIPP). It's in 2 main bond based Blackrock funds. The financial wizards that have been in charge for the last 12 months have knocked 25% off it. It wouldn't be so bad if it was 25% of £49.50 but.....

It would have done better under the mattress as cash or as a Ferrari!

v8-powered wrote: Thu Feb 02, 2023 1:25 pm My old mum wants me to invest a few quid for her - 5k now and another 5k in a few weeks. Was going to drop it into premium bonds but not sure now, considering how saving rates are rising?
Would rather easy access, so not wanting a fixed term bond but keen to hear what the resident experts suggest. Could ask my missus but that's boring

What does your new mum think?

As above, I've got 3.something% easy access at the moment, I assume it's gonna go up again if/when the bank raise rates today (have they? Not looked at the news).

Long term bond rates are already dropping. The 2-3 year fixed rates are based on what "they" expect the average rate to be for the next few years. All of those (supposedly) in the know think base rates are gonna peak in the next few months, thus the 2-3 year rates are already dropping. Have been for some time actually.

The best performing investment we've got at the moment is actually Imperial Brands Group (formerly "Imperial Tabacco"). I'd never invest in ciggies personally, but Mrs. D's dad died of lung cancer/40 a day so by her logic they owe her. Not sure I agree

£50 this month.

Seems to be about what we’re getting monthly nowadays with about £25k in the pot.

The only reason we’ve got that much in is we got a bit of money from the sale of my late FiL’s house and we’re using that as a kind of drawdown while my pension pot recovers (hopefully) from the hit it’s taken.

It probably makes crap financial sense but it’s handy just to go online and take out anything we need.

£25! Better than nowt...

Mr. Dazzle wrote: Thu Feb 02, 2023 1:52 pm

v8-powered wrote: Thu Feb 02, 2023 1:25 pm My old mum wants me to invest a few quid for her - 5k now and another 5k in a few weeks. Was going to drop it into premium bonds but not sure now, considering how saving rates are rising?
Would rather easy access, so not wanting a fixed term bond but keen to hear what the resident experts suggest. Could ask my missus but that's boring

What does your new mum think?

My old mum is 88 - couldn't deal with a new one too! She doesn't give a shit what I do with it - she stresses that she has too much in the bank and would rather I just look after it for her!

Well it's results time, how did we all do ?

I got 3 x £25 and my first ever £50 !

I did buy £40K's worth in December though!

I've won!

Just got the email. I assume it'll be £25 but I'll wait and see if the bank call to tell me 'You can't put THAT much in your current account!'

Jody wrote: Thu Feb 02, 2023 11:48 pm Well it's results time, how did we all do ?

I got 3 x £25 and my first ever £50 !

I did buy £40K's worth in December though!

£25, i didn't have that much in there. Have topped it up now as I do better out of that than other places.

Just to tidy up, the win landed in the bank. £50! Quite pleased with the % return over 12 months.