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UK v European Savings

Last post Fri, Dec 07 2012, 4:14 PM by WILT. 5 replies.
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  •  Fri, Dec 07 2012, 4:14 PM

    Re: UK v European Savings

    https://www.saversfriend.co.uk/?utm_medium=email&utm_source=Moneyfacts+Group+Plc&utm_campaign=1830586_06%2f12%2f2012+SF+-+PUBLIC&utm_content=SaversFriend&dm_i=1899,138HM,8A9NY7,3DJDN,1
    • Post Points: 29
  •  Fri, Dec 07 2012, 12:43 PM

    Re: UK v European Savings

    I'm not sure solar power is so good since they reduced the payback which you refer to - might be worth checking. My daughter in law had it fitted on a new house just in time before the guaranteed rates changed. Personally I think it's criminal that our cash strapped government pay out so much guaranteed for so long (25 years I think), but don't blame anyone for taking advantage! It's something we had a quote for about 7 years ago, but our roof faces north & south so not brilliant and I think costs were much higher & payback less in those days.
    Seriously thinking about Close Brothers and checking them out as a company for 3.3% on 3 year bond, 10k minimum which is just right for me. Does anyone know anything about them that I haven't found on their own website?
    .... all this work for £70 pa more than in my Loyalty Saver - but as a pensioner I'm not getting paid for any other work!
    • Post Points: 50
  •  Fri, Dec 07 2012, 11:23 AM

    Re: UK v European Savings

    I would have suggested Solar Power pre the reduction in F.I.T. payments and subject to your having a suitable roof !!

    I installed 4 Kw @ about £14 000 18 months ago and they have returned pushing £3 000 in total so payback is about 8yrs

    or so .and then it's all profit. Providing of course governments don't renage on their promises .Solar Panel prices have

    dropped significantly though so it may still be better than the Financial Services Industry sharks.

    • Post Points: 20
  •  Fri, Dec 07 2012, 9:52 AM

    Re: UK v European Savings

    Thanks for your comment Wilt. I guess the 18 months with Santander at 2.9% will allow me to reinvest sooner and HOPE the rates are better by then. Oh for a crystal ball!
    PS (on edit) Just checked details & can't do the Santander one because it is only for their existing customers! Any other ideas? - bearing in mind that on £10k even 1% more than my Nationwide Loyalty Saver is only worthy £100 a year pre-tax if i have to pay it!
    • Post Points: 20
  •  Fri, Dec 07 2012, 12:12 AM

    Re: UK v European Savings

    3.25% for 5 yrs seems riskier than just under 3% available elsewhere. Your liquidity would be seriously compromised should things improve.
    • Post Points: 20
  •  Thu, Dec 06 2012, 5:35 PM

    UK v European Savings

    I have a fixed term bond to reinvest and cannot believe how low the rates are from recognised Banks and Investment companies at present. In the past I am glad I stuck with known banks for a bit less interest and avoided investing in Iceland at the best rates offered at that time. Now there are no known names (to me) near the top and ridiculously low rates from the usual banks, way below inflation. I think Santander came in best at 2.9% for 18 months.
    What do regulars here make of Triodos, a Netherlands company offering 3.25% for 5 years (still protected for up to 85k - more than I have to invest)?
    I don't mind putting most of it away for 4 or 5 years to get a better deal & some income, but is it worth tying it up if things may improve? I now get 2.6% from a Loyalty Saver with no strings from my main Nationwide bank. Other investments I hold are 3.75- 4.5%.
    • Post Points: 20