Any advice gratefully received!

Cactus25

Herbalus wrote: »

No need to tell anybody about what happens in an ISA.

Apart from online forums. It’s mandatory to report back here with your ISA profits if you’re evading tax.

Ha thanks! :P


I'll speak to an advisor in January but I suspect something simple like an stocks and shares ISA we can put 2k per month into each. or whatever the annual limit is split over 12 months.


Is there a guide/ somewhere obvious I should be reading about different types of stocks and shares ISAs? We currently bank with Santander and Barclays, more than happy to open an ISA somewhere if it returns more/costs less.


Thanks

MallyGirl

An ISA itself doesn't return anything- it is just a tax protection wrapper. It is what you invest in that provides returns. There will be costs - either based on value held or transaction fees for buying the funds you invest in.

Lottery will be frowned upon as it is gambling - would you choose to lend money to someone with a history of gambling?

Cactus25

MallyGirl wrote: »

An ISA itself doesn't return anything- it is just a tax protection wrapper. It is what you invest in that provides returns. There will be costs - either based on value held or transaction fees for buying the funds you invest in.

Lottery will be frowned upon as it is gambling - would you choose to lend money to someone with a history of gambling?

Point taken!



Is there a guide / comparison tool for different S&S ISA or platforms by which the money is invested?
I assume they would charge me to deposit, manage, withdraw etc etc
Ideally I'd just want something I can dump money in and check on once every blue moon making a decent return and not getting ripped off all at the same time. Or is that the Holy grail?!?:rotfl:

eskbanker

General reading on investment principles and strategies at:

https://www.moneysavingexpert.com/investments/
http://www.monevator.com
http://diyinvestoruk.blogspot.com/
https://www.moneyadviceservice.org.uk/en

Specific comparisons between platforms at:

http://monevator.com/compare-the-brokers/
http://www.comparefundplatforms.com/
https://forums.moneysavingexpert.com/discussion/5583030

Cactus25

Thanks Eskbanker!

Alexland

Cactus25 wrote: »

I guess really I should see a financial advisor as many have suggested, and decide whether we should just do away with the HTB ISA and switch to a stocks and shares ISA.

You probably know but to claim the HTB ISA bonus you will be required to sign a declaration that you are intending to occupy the property as your main residence (rather than rent it out) although there is an exemption for the regular or reserve forces.

S&S ISAs can hold a range of investments but are really only suitable if you will not need to access the money for at least 5 years preferably 7+ years to avoid withdrawal while markets are low.

Alex

Dazed_and_confused

I guess really I should see a financial advisor as many have suggested

Pretty sure no one replying on this thread has suggested you see a financial advisor.

In fact several have responded saying this is something you definitely shouldn't do.

fiisch

Cactus25 wrote: »

T


We saw a mortgage broker a few months ago who said with a 60k deposit we should look for a property of 600k. There is the help to buy scheme in London for a 30k deposit for a 600k home and a large government equity loan I believe. However as we want to rent the property out this isn't suitable. He said however if we were to live in it, and make huge over payments on the mortgage we could be in a great position at the end of the 5 years when the equity loan starts needing repayments.

If this is a serious thread (I'm not 100% sure either way), you've got your wires crossed with the mortgage broker - for a buy to let property, you'll need a minimum 25% deposit, so a £600k property would require a deposit of £150k minimum. You're right in that help to buy would not apply.

darkidoe

DrSyn wrote: »

Does anyone else get the feeling that Cactus25 is having a joke & attempting an Xmas wind up?

Serious or Joke. Some of the replies are sensibly hilarious!

Spider_In_The_Bath wrote: »

- Contact the local council and have the kitchen in which the cakes are being made inspected and certified as suitable for making food to sell.

- Ensure you wife has some form of food handling certificate.

- Get insurance and legal protection for running a food business.

- Hope no one sues you for food poisoning after getting ill from eating one of the cakes.

:rotfl:

[Deleted User]

Spider_In_The_Bath wrote: »

- Contact the local council and have the kitchen in which the cakes are being made inspected and certified as suitable for making food to sell.

- Ensure you wife has some form of food handling certificate.

- Get insurance and legal protection for running a food business.

- Hope no one sues you for food poisoning after getting ill from eating one of the cakes.

darkidoe wrote: »

Serious or Joke. Some of the replies are sensibly hilarious!



:rotfl:

It was written very much tounge in cheek, but it is very true.

If someone sues them I cannot image how much money they are going to need to pay for this. They won't be investing any money at all.