Pensioner Bonds now on sale

Archi_Bald

ColdIron wrote: »

Another tweet from George Osborne

Can confirm £1,153 million of bonds sold in 2 days to over 110k pensioners. Total of £10bn available - so plenty left & on sale for months

Of course he would be very embarrassingly wrong if the sales continued to rise at the same rate as they did from day 1 to day 2. The accrued numbers on day 2 were about 4.2 times the numbers on day 1. So if we see the same growth again, the party could be over sometime during tomorrow......how's that for creating some panic, lol.

alanq

George's prediction is based on a time when the web site makes it near impossible for people to apply. What will happen when/if it is actually working as it should? Plus how many applications are already on their way by post including from those who have failed to apply online? Also not everyone will have their funds instantly available given that the exact launch date had been unknown.

It may take more than days to sell out but I would be surprised if it takes months. As a radio commentator remarked everyone is just guessing.

If this launch was intended as something to make the 65+s feel good at the time of the election it could backfire if many of them fail to get the bonds having delayed applying because of George's assurance.

c £1 billion in two days. That leaves £9 billion available. If the initial rate of sales remains unchanged that leaves just 18 days. For the reasons mentioned above it could be a lot less.

ColdIron

I expect they have many modelling tools and much data, such as the announcements of the old Index Linked Savings Certificates, to go on. Even if everyone maxes out that still a million people no matter how fast or slow they sell

colsten

ColdIron wrote: »

Even if everyone maxes out that still a million people no matter how fast or slow they sell

It will be a lot less than a million people as many will go for the 1- and the 3-year bonds. But there is money for at least 500,000.

laaah

My parents are hoping to take out joint bonds, one of each term. My mother doesn't pay tax, my dad's a basic rate tax payer. Am I right in thinking that, if they put my mum's name as the primary bond holder, at the end of the term there will be no tax liability so she can pursue a full tax refund from HMRC?

rfsmith7

laaah wrote: »

My parents are hoping to take out joint bonds, one of each term. My mother doesn't pay tax, my dad's a basic rate tax payer. Am I right in thinking that, if they put my mum's name as the primary bond holder, at the end of the term there will be no tax liability so she can pursue a full tax refund from HMRC?

No. The interest from a joint account is treated as being applied equally to each account holder. So in your case, your mother will only be able to reclaim the tax from her half-share of the interest.

baxy

Alter_ego wrote: »

That's enough for 1 million people to invest, save, buy a £10,000 bond each

Or half a million people to buy both bonds

baxy

I am another of the people who got to the final stage i.e. Payment verifying when system crashed. This was 7.30 on Friday morning. No email from NS&I but funds 'pending payment' at bank.
Just checked account and no change there.
So it's about 44hours since application, no idea if I have managed to register for the bond and my 10 grand is held in limbo at the bank.
Where do I go from here?

2010

baxy wrote: »

I am another of the people who got to the final stage i.e. Payment verifying when system crashed. This was 7.30 on Friday morning. No email from NS&I but funds 'pending payment' at bank.
Just checked account and no change there.
So it's about 44hours since application, no idea if I have managed to register for the bond and my 10 grand is held in limbo at the bank.
Where do I go from here?

I would guess that although you can buy the bonds online and over the phone at the weekend, the back office is probably a Monday to Friday affair.
See what developes tomorrow.

rfsmith7

baxy wrote: »

I am another of the people who got to the final stage i.e. Payment verifying when system crashed. This was 7.30 on Friday morning. No email from NS&I but funds 'pending payment' at bank.
Just checked account and no change there.
So it's about 44hours since application, no idea if I have managed to register for the bond and my 10 grand is held in limbo at the bank.
Where do I go from here?

This happened to me too but on Thursday. But by Friday night the funds had been taken so I'm assuming it is progressing. It's possible your money has not been taken because the next banking day after Friday is Monday, so I'd see if the money leaves the account then.


Another check is to run through the application again up to the point where it asks how much you want to invest. In my case it initially said the full amount, but later in the day it said £0 so I assumed all was OK. But this is really poor application software!