Financial investment advice

[The Fat el Hombre]

Open a Santander first home saver account. You can stick up to 5000 in from the start and then you ahve to pay between 1-300 every month. It pays 5% interest which beats all ISA's at the mo as far as I'm aware

 

[Thaksins Love Child]

Open a Santander first home saver account. You can stick up to 5000 in from the start and then you ahve to pay between 1-300 every month. It pays 5% interest which beats all ISA's at the mo as far as I'm aware

I have an ISA with ING at the moment with around £5k in which is my savings towards a house deposit.

Would imagine this is worth me looking into, cheers.

Edit: had a quick look on money supermarket and there seems to be some confusion around this account. It seem you get 0.10% for any month you deposit more than £300. People are also unsure as to whether you get the 5% or not (I am no banking guru).

 

[Balti]

Indian banks like ICICI worth looking at for savings

 

[Ragnarok]

Thanks for athe advice folks!

Dave, I'd be looking at little less than 20k sterling, not a huge amount but I was just wondering about doing something with it rather than just leaving it in an account. The missus has roughly the same amount and it's just going to be topped up over the next 18-24 months, seems a shame not to try anything with it but as you said, if it was easy to make money on it, everyone would be at it.

Prestwich, believe me, the Irish market has a hell of a way to fall, it's still ridiculously over-priced and with another round of 'austerity measures' to come in December, we're going to see a lot more people defaulting on mortgages they could never afford anyway. The fucking bastards are talking about cutting my parents old age pension now, this is how bad things are.
4.5 billion cuts this budget in a country with a population of just over four million. I'm sure you've heard about our bank bailouts too, 50 yes that's FIFTY billion and counting. Place is fucked.

Ragnarok, cheers for that advice, I'll look into a risk free mutual fund scheme whatever that may be. Don't fancy handing over significant sums to a broker really, you all seem to preach caution on the matter anyway.

Of course they are not totally risk free, but the risk is negligible but yet they are advertised as risk free.Also , they are called mutual fund schemes over here in India , but since you havent heard of them , i have a nagging feeling that they are called something else in the UK

Also , its not necessary to hand over the money to them , you just pay them for their professional advice which considers all the aspects of your finance and then you yourself can act on it.

 

[*simmo*]

If you don't want to leave it in a current account mate try putting it in premium bonds. With that amount of cash there is a good chance of winning regularly. They pay no interest but there is no risk, you can have your money back within about a week, and there is always a chance of winning the big one. 1 million quid.

 

[Gaz in Zurich]

I put 20k in a fund in Jan. My 20k is now worth 34k and seems to be increasing by the day.
My mate who put me onto it, turned 20k into 50k in 2 years.
Pm me for details, but 20k in the minimum you can invest

 

[The Fat el Hombre]

It seem you get 0.10% for any month you deposit more than £300. People are also unsure as to whether you get the 5% or not (I am no banking guru).

Just put between 100 and 300 in every month, no more no less.

The 5% is variable, meaning it can go up or come down. If it was gonna go down it probably would have reached it's bottom by now (it dropped from 5.5 to 5 over a year ago), but even from here it'd have to come down a full % to be near any ISA that isn't fixed for the next 3+ years. I got my 5% for the year paid in last month, it paid for my Salzburg trip

 

[law74]

I would agree with BP on the holding fire on the property buying for the moment especially in the UK as we dont know for another fortnight or so just how deep cutting the CSR is going to be, and one thing is certain, it is going to hit every sector of employment, and thus the property market.

 

[ninjamonkey]

Stay as you are for now would be my advice. Definitely don't want to be buying a house at this present time. It's not worth risking your money in shares if you want a return within 2 years, if you do though, be sure you get a fully diversified portfolio to cover yourself as much as possible. Look around properly, find the highest interest rate you can and stick it in there for a while.

 

[brand blue heavies]

Become a money Lender!!!Invest around 5k in Zopa!The money lending service where you`ll get a return of around 8%.

Check it out on Google.It the way forward.Basically you lend money to other people looking to borrow.If your also looking to borrow less than 5k at the moment its the palce to get that to.

Its a sound investment and one which the banks are crapping themselves over.Bit like Peer to peer sharing but with money.