Mum needs monthly income

locquirec

Our mother is 62 years old, has lived in France for three years, and soon she will have around 140 000€, or £95 000 to invest for a monthly income.
Long term investments, we think, but she might like to put around £10 000 in a relatively shorter access account.
Her pension is low, so she needs reliable , but the best, returns.
Any ideas, please?

dunstonh

Around 20,000 products/funds/options available. You need to filter the options more to help us narrow down whats available.

locquirec

what further information would you need<,

jonesMUFCforever

First thing to establish is whether she is a UK citizen or not.
Banks won't touch non UK nationals for financial advise.

martyn4764

If she's French resident, I'm afraid it'll be virtually impossible to open an account in the UK...

... and the returns on accounts in France are much lower, and tax breaks are limited to amounts much less than that.

EdInvestor

She can open a brokerage account in the UK to invest in funds or shares as long as she has a UK onshore or offshore bank account ( eg at https://www.squaregain.co.uk ). She would need to check the tax situation in France on UK investments.

Has she access to any advice about French-based investments?

locquirec

She is British, but resident in France. She has accounts with HSBC in the UK.
She submits tax returns as a French resident, but her UK retirement pension is untaxed (too low) and titchy local authority pension is taxed in UK (some law or other, double agreement or something.

dunstonh

She is almost certainly best seeking advice in France in that case.

martyn4764

Hi

I think, from memory, that offshore accounts from UK banks (Abbey, Northern Rock, etc) pay up to 4.5-%ish at the moment for monthly interest, obviously slightly better for annual or fixed term accounts.

You can search offshores at places like http://www.moneysupermarket.com