Reply With QuoteI wouldn't put a penny in Monzo. Too many frozen account stories. Starling is fine though.Originally Posted by lewie
I have a few dormant accounts I could utilise (I didn’t even consider monzo which I have) although like an impetus fool (not really) I ‘retired’ so this is also my ‘living’ money - hell you only live once- who’s got time to work anyway
My 2nd home is due to go up for sale soon as the divorce is in motion this should net me around £150k +
Once prices settle my brother and I intend to pick a flat or house up to ‘flip’
I wouldn't put a penny in Monzo. Too many frozen account stories. Starling is fine though.
I had a similar thread last year
https://forum.tz-uk.com/showthread.p...erm-investment
I linked to the thread as there may be some suggestions in there of interest.
I had money on hand for 4 months in the end, I put it in NS&I although the interest rate was 1.16% at the time
The money was at no risk and the interest paid my conveyancy and removal fees which I was very happy about!
I had some money with NS&I too....Only trouble is, their rate is now rubbish! Its gone down to 0.01% or something equally useless!
Guys the aviva deal is a complete scam. Do not invest as your money will be gone. We managed to stop a client investing in it. When you call aviva they confirm no such product existed and the website was a decently executed copy. Bottom line is there is no such thing as a guaranteed risk free 6% investment currently. Hopefully at the very least you won’t take my word for it but call aviva (make sure you call the real aviva and not the number on the email).
Good luck
I see some comments re the actual aviva product - it’s not a risk free product / before I’m told to check my facts
Yup that´s exactly what we did, both Aviva nd Hargreaves L, as noted earlier in this thread.
Excellent. Sorry I didn’t read it all - wanted to put my info there ASAP in case it helped. Glad scam was avoided
No problemo Rusty.
In the end it did motivate us to shift some cash earning virtually nul points in the bank into the legit Aviva bond product, obviously it ain't risk free but we figured ah why not, the headline rates pretty sexy.
Can I ask as you've splashed the cash is my understanding of the Aviva Bond correct please post 43 here https://forum.tz-uk.com/showthread.php?p=5754725
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Not sure I follow...I maybe wrong but am expecting 6 percent pa and our stake /investment returned 15 years hence providing Aviva doesn't sink without trace in the interim...if I need the funds out before then I expect I could lose a bit.
Just trying to wrap my head around this so I fully understand. If there are any experts who can put this into words of one syllable please chip in.
My thinking is on the day the bond is launched if you invested £1000 with Aviva they pay you a fixed rate of 6% for the life of the bond and at the end of the term you get your £1000 back plus you will have received £60 in interest every year.
As the launch date has passed you can still invest in the bond but you need to buy from a 3rd party, who are asking £1024 to buy £1000 of the bond. Consequently it will have cost £1024 to get the £60 per annum so the actual rate if return has dropped to say 4.8%, which is still pretty good.
The potential risks as I see it are
1) Aviva goes under and you lose the lot
2) For whatever reason based on the current price if £1024 falls to say £1000 and you lose £24 of you capital if you need to cash out. I'm guessing the price will fall the closer you get to the expiry date as the length of time to make the return on the investment gets shorter ?
As I say I may have got this totally wrong so please feel free to correct as it seems like a good investment currently
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