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Thread: Which ISA?

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    Senior Member Jim_S-V6_2004's Avatar
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    Which ISA?

    Seems to be a free-for-all out there.

    All banks offer them but most are non-committed when comes to returns, so they could be very poor.

    Independent investment brokers boast of 15% but are they safe?

    Which ISAs do you know of which have proven reliable on returns?

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    Senior Member Victor's Avatar
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    Non. Bung it in NS&I Premium Bonds.
    Mrs V has some, I have some, and for us they do a hell of a sight better than ISA's. It's not a lot, there's no guarantee, but at least it's a sniff.
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    Senior Member Jim_S-V6_2004's Avatar
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    Quote Originally Posted by Victor View Post
    Non. Bung it in NS&I Premium Bonds.
    Mrs V has some, I have some, and for us they do a hell of a sight better than ISA's. It's not a lot, there's no guarantee, but at least it's a sniff.
    .
    How is that Vic, what are typical returns for your ISAs and for premium bonds? Bonds used to be around 2% some few years ago, very poor.

    Is fixed interest stuff like this trustable?: http://www.dailyinvestor.co.uk/12-mo...d-income-bond/

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    Senior Member Victor's Avatar
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    WE don't have Isa's now, the interest rates were abysmal, we acutally lost money on advice given by the Halifax.
    2% is better that this insult. http://static.halifax.co.uk/assets/p...unts-rates.pdf

    My money would be safer stuffed in Mrs V's underwear.
    I've never tallied up what the PB returns are but every month there's a bit of a return.
    After losing money on Halifax advice I'm a bit wary, not greedy, but I want to know it's safe. Yes, there are companies/private banks who offer attractive rates but................
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    They are NOT FSA guaranteed but since bank / building soc rates collapsed, I have been happy to average just over 5% in the Peer to Peer market. Some have internal schemes or insurance based bonds to cover any defaulted loans.

    My investments are shared between Funding Circle, Zopa, Lending Works and Ratesetter. There are several others but these are some of the longer established companies.

    They do now offer ISAs and some will pay the interest to your current account.

    I do not have the knowledge to bet on shares nor do I have the trust to allow a broker / adviser to do it for me.

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    Senior Member J.J.X.T's Avatar
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    Quote Originally Posted by Percentage View Post
    They are NOT FSA guaranteed but since bank / building soc rates collapsed, I have been happy to average just over 5% in the Peer to Peer market. Some have internal schemes or insurance based bonds to cover any defaulted loans.

    My investments are shared between Funding Circle, Zopa, Lending Works and Ratesetter. There are several others but these are some of the longer established companies.

    They do now offer ISAs and some will pay the interest to your current account.

    I do not have the knowledge to bet on shares nor do I have the trust to allow a broker / adviser to do it for me.

    We originally had an endowment morrtgage and were assured it would pay off the loan but of course there were shortfalls! Managed to switch to a repayment mortgage but ever since then I have been extremely wary about financial advisers telling me to invest in the stock market. At the moment I would not consider it as have heard of too many people losing money due to the financial uncertainties of the current situation. There are a few fixed rate ISA's paying slightly better interest rates but still pretty abysmal and you have to tie the money up for several years.
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    Quote Originally Posted by J.J.X.T View Post
    We originally had an endowment morrtgage and were assured it would pay off the loan but of course there were shortfalls! Managed to switch to a repayment mortgage but ever since then I have been extremely wary about financial advisers telling me to invest in the stock market. At the moment I would not consider it as have heard of too many people losing money due to the financial uncertainties of the current situation. There are a few fixed rate ISA's paying slightly better interest rates but still pretty abysmal and you have to tie the money up for several years.
    Would tend to agree with all of that.

    We too had a poor experience with "financial Advisers" and were fortunate to get out of it without too much cost - probably a cheap lesson!

    To me they are little better than racing tipsters or astrologers.

    That and the abysmal returns from conventional ISA providers were what made me move to the Peer to Peer market.....Which so far I have been pleased with

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    Senior Member Jim_S-V6_2004's Avatar
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    What's the "Peer to Peer" chaps?

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    Nutmeg ISA's looking interesting to us.
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    Quote Originally Posted by Jim_S-V6_2004 View Post
    What's the "Peer to Peer" chaps?
    In effect a broker finds people who want to borrow money and connects them with people who wish to lend money.

    Swerve Lendy,they have £17k of my pension fund and I am unable to either extract it or sell on my loans.

    Any method of beating the High Street bankers will entail some risk,you need to do your research and be sure that you are comfortable with the level of risk involved.

    I have some of my pension fund in ISA's provided by .... www.Lowes.co.uk .....these are 'Structured Products' where you invest a fixed sum against a known risk,some offer a return based on the FTSE 100 being at the same level in the future and you could lose money if the index falls by a given amount...usually around 40%...but will pay a fixed % for each year the product runs for.If the index rises by a set figure,the plan will 'kick out' and you get your money back plus the promised return.
    Be wary of this sort of plan that is linked to the performance of stated FTSE 100 companies,the chances of three such companies all hitting the target figure at the same time is far more of a gamble than just expecting the FTSE 100 index to rise a given amount over a given period.
    Historicaly,no five year period has seen the FTSE 100 fall,but as I posted last week,using past performance is like driving down the road expecting to see the road ahead in the rear view mirror.

    Brexit is doing weird and wonderful things to both the Stock Market and investment in general,but if the market rises post brexit,who knows what will happen?
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