Looking for a good cash isa and stock and share isa

minority

Hey

I have an isa which I have nearly used up my years tax free and have about 4k this is sitting in a rbs isa which I want to move to a higher intrest account.

I don't need to touch this money as it basically my backup money incase i get made redundant or something (unlikly) but I would like to keep adding to it to build it up even more. I was thinking of the Newcastle 2 year ISA where you have to pop in 100pounds min a month for at least 9 months.

On top of this I am considering a stock and share ISA which is more for a long term investment to build up over time and try and make some money from it. What are the best banks etc to go to for this as I have no idea what to do share wise so don't want to manage it myself, not sure whether to go for low or medium risk as this is an account where I suppose I want a small gamble on it as the cash isa is my backup money.

Baldur

minority wrote: »

I was thinking of the Newcastle 2 year ISA where you have to pop in 100pounds min a month for at least 9 months.

There is nothing in Newcastle's product information to suggest that the Balance Builder ISA is a 2 year account - the maturity date is shown as 'Account Anniversary', which indicates that it's a 1 year account.

On top of this I am considering a stock and share ISA which is more for a long term investment to build up over time and try and make some money from it. What are the best banks etc to go to for this...

High street banks are generally not the best place to look for investment products (including Stocks & Shares ISAs) as they tend to offer a very limited range of products which have high charges.

dunstonh

On top of this I am considering a stock and share ISA which is more for a long term investment to build up over time and try and make some money from it. What are the best banks etc to go to for this

none of them.

I have no idea what to do share wise so don't want to manage it myself, not sure whether to go for low or medium risk as this is an account where I suppose I want a small gamble on it as the cash isa is my backup money.

Get an IFA to sort that out. Not a sales rep from a bank.

topbombing

dunstonh wrote: »

none of them.



Get an IFA to sort that out. Not a sales rep from a bank.

Why do you say that dunstonh ? I mean in terms of Equity ISAs?

cheers

dunstonh

Why do you say that dunstonh ? I mean in terms of Equity ISAs?

Banks can only sell you their own product or from a limited panel. They are the most expensive place to buy and their remit is restricted in what investments they can recommend. Indeed, most of them document it that you pick the fund. Bank funds also tend to be under performers as well.

The staff also operate under a salesforce mentality and that is not a good way to get advice.

Primrose

I would avoid banks with a bargepole for equity ISAs.. They can only offer their own limited range of products which are often not necessarily either the best or the most suitable for any individual's personal circumstances.

I can only give you my own experience. I get my equity ISAs through Hargreaves Lansdown.
(www.h-l.co.uk) who have a selection of hundreds of funds to choose from, depending on your attitude to risk, sector and geographical region. Their website has a good Funds section which will give you lots of information.
Other people on here will probably be able to suggest other brokers who offer a similar service.

If you're planning on using your Cash ISA as emergency money in case of redundancy, don't tie it up in any fixed term product unless the Terms and Conditions allow you to withdraw from it by paying a penalty or you have other savings you can draw on first. Go for an instant access ISA, even if that means you are getting a lower interest rate.