HELP!!banks won't take my money

want_to_save

sorry le loup what does that mean

[Deleted User]

LR67 wrote: »

Unbelievable, this site is called money saving expert, the proof is in the name, it's designed to save you money. [...] Why would people encourage me to move into a more expensive property or condone me for buying a home with a discount. It's not called moneywasteexpert.com is it!!! [...] If you can't give constructive advice then don't give any at all, and get a life.

You're not "saving money" in the MSE sense, you're taking money from the tax payer to line your pockets! You've clearly stated you have no plans to live in the house, which is the point of RTB, so why do you think anyone would condone your behaviour? Every single person in this topic is subsidising your purchase of that house through their income tax, and you have more money than the majority of people in this country!

If your story is real you should be ashamed of your behaviour, but your story isn't real because nobody is as selfish and oblivious as you're pretending to be. I have never seen Martin suggest that people steal from the needy to line their own pockets, you cannot possibly believe that this is behaviour in line with the MSE ethos.

Archi_Bald

LR67 wrote: »

Oh and if I was going to make it up I would stretch to a couple of million in savings rather then a few 100k.

No sweat, MASH will take a couple of mill as well. We'd consider raising our guaranteed interest rate to 13.47% upon deposit of at least £1.435m.

LR67 wrote: »

Unbelievable, this site is called money saving expert, the proof is in the name, it's designed to save you money.

Rest assured, MASH are committed to saving you money. Please leave us the address we can contact you at after half term.

LR67

want_to_save wrote: »

i would speak to your IFA about investing in unit trusts or a discretionary fund manager who would ascertain your attitude to risk and make all the big decisions for you. they could invest it for you for growth and then when the timing is necessary provide an income. and by the way way to go on turning the life around

Thank you, I really appreciate your advice and kind words!!

bsms1147

LR67 wrote: »

Thank you, I really appreciate your advice and kind words!!

I'm glad we could all help.

You've got three solid options for what to do with the money, each at very impressive rates; I'd suggest two more so with your £400,000 you will have no more than £80,000 in each institution.

LR67

citricsquid wrote: »

If your story is real you should be ashamed of your behaviour, but your story isn't real because nobody is as selfish and oblivious as you're pretending to be. I have never seen Martin suggest that people steal from the needy to line their own pockets, you cannot possibly believe that this is behaviour in line with the MSE ethos.

Yeah ok my story isn't real, I just made it up for the hell of it (sarcasm)

Excuse me as a regular watcher of martin and his money saving programme I know for a fact he encourages claiming tax back off HMRC.

How am I selfish? it's hardly my fault I pulled myself up out of the ground and made some wise moves that paid off is it!! And how is claiming an entitlement under the law stealing from the needy?

There are loads of people who have wealth who choose to live in social housing, even millionaires. Look at the late Bob Crow, wasn't he on £150,000 a year or something like that.

No I'm not ashamed, I have nothing to be ashamed of, just because I have an opportunity to help my future and more importantly my families future and I'm using it. You are just Jealous it's so obvious as you really have no idea, I was just outlining my circumstances to get the best possible responses.

I'm guessing you didn't like Maggie Thatcher!!!

gadgetmind

LR67 wrote: »

I was just outlining my circumstances to get the best possible responses.

Yup, and I do advise you to stick with it, as there are as many people here with good advice as those who'll rag at you,

(And please ignore my CASH comments, we're all just having fun too!)

BillJones

LR67 wrote: »

UI must of broke the law or something.

It's "must have".

People are suspicious as it's rare for someone semi–literate to do so well so young, and then to have some kind of brain-fart while trying to deposit it.

I assume, with your problems with English, that you perhaps left school at fourteen? That, at least, gives you plenty of time working to have built up your assets.

[Deleted User]

LR67 wrote: »

How am I selfish? it's hardly my fault I pulled myself up out of the ground and made some wise moves that paid off is it!! And how is claiming an entitlement under the law stealing from the needy?

There are loads of people who have wealth who choose to live in social housing, even millionaires. Look at the late Bob Crow, wasn't he on £150,000 a year or something like that.

No I'm not ashamed, I have nothing to be ashamed of, just because I have an opportunity to help my future and more importantly my families future and I'm using it. You are just Jealous it's so obvious as you really have no idea, I was just outlining my circumstances to get the best possible responses.

This nothing to do with jealousy, I'm much like you: a young person who has been financially fortunate and went from having nothing (although I was never homeless) to having a very good income and a secure future... I would be disgusted in myself if I did what you're doing.

There's a fundamental difference between using something available to you fairly (I make use of salary sacrifice to maximise my pension contributions for example) and misusing a scheme to line your pockets (using right to buy to start a property portfolio).

Right to buy exists to provide home ownership, it does not exist to provide discounted property investment. From the Right to Buy website:

Right to Buy was introduced in 1980 and gives eligible social housing tenants the right to buy their home at a discount. [...] Also for the first time, receipts from additional sales are being reinvested into providing new affordable homes for rent. Thousands of tenants have become homeowners since the discounts were increased.

Note the key words home, home owners. You have no intention of making the property your long term home, your only intention is to line your pockets.

Thrugelmir

LR67 wrote: »

I got my money legitimately and legally and I don't appreciate people thinking I must of broke the law or something.

The fact that it's in cash just gets alarm bells ringing. Once assumes it's never been declared to the HMRC.