The Top Easy Access Savings Discussion Area

eskbanker

heyjude3333 wrote: »

I have money invested in a stocks & shares ISA (originally a PEP) when it was invested over 20 years ago (Fidelityj. I want to withdraw this money to pay for home improvements next Summer. Would it be wise to cash in this money before Brexit date, & if so, where should I put it in the interim. I know no-one can predict the full effects of Brexit.

Completely a judgement call, as you say nobody knows what the effect of Brexit will be, if it even goes ahead of course. What are the underlying investments, i.e. are they UK-oriented or globally diversified?

heyjude3333 wrote: »

I am a tax payer, how much can I put in my instant access ISA per year.

Everyone, taxpayer or not, has an allowance of £20K that can be paid into ISAs in any tax year. Just to be clear, transfers between ISAs don't count towards this, so you could cash in your Fidelity investments and transfer the proceeds to a cash ISA without this counting towards that annual allowance, as long as you use the receiving provider's transfer process, although most on here in your situation would dump money into a (taxable) Marcus savings account at 1.5% rather than using a cash ISA at a lower rate....

keef-WhatStandards

Main site gives Kent Reliance @ 1.5%, but link goes to a 1.4% account.

Does anyone have the correct url please?

solartom

Kent Reliance
Looks like they pulled that Rate
had a look on their website no sign of the 1.5% Easy Access

afmfifgh

heyjude3333 wrote: »

I have money invested in a stocks & shares ISA (originally a PEP) when it was invested over 20 years ago (Fidelityj. I want to withdraw this money to pay for home improvements next Summer. Would it be wise to cash in this money before Brexit date, & if so, where should I put it in the interim. I know no-one can predict the full effects of Brexit. I am a tax payer, how much can I put in my instant access ISA per year.

the general advice is that money you need in the next 1 - 5 years should not be in the stock market.

There is no right or wrong answer as to if you should de-invest now or post brexit (if that ever happens). You will only know after the event if it was the right decision to have de-invested today, tomorrow, in 6 months or in 12 months etc.

YOU need to decide if you are willing to take the risk on what happens with the markets in the coming months.

If the markets tank would you still be okay with your return when you need the money given that you took on a level of risk or would you be gutted. If the latter I would say you should de-invest now.

Remember you can make a correct wrong decision i.e. the decision now was correct for you but the outcome was wrong, so you de-invest now and are happy with what you get and the certainty that you have the money you need but then the markets double by the time you actually need the money then in hindsight that would have been the wrong decision but it was right for you at the time. Or vice versa.

A way to help hedge your risk would be to dollar cost average out of the investment, so take a set amount out of the investment each week. This helps spread the risk of getting out at the wrong time but still could be the wrong decision.

In general though if you knew the work was going to have been needed you should really de-invest some years ago.

keef-WhatStandards

solartom wrote: »

Kent Reliance
Looks like they pulled that Rate
had a look on their website no sign of the 1.5% Easy Access

Has MSE updated their website?

No response to my email to them.

eskbanker

keef-WhatStandards wrote: »

Has MSE updated their website?

If only there was some way to find out....

polymaff

keef-WhatStandards wrote: »

Has MSE updated their website?

No response to my email to them.

Well, don't hold your breath. This thread's header still includes a link to an account that was withdrawn almost a year ago - and became obsolete long before that.

djpailo

so icici now gives 1.55%. Wonder if we'll get 1.6%?

vjsuk

I posted here regarding a fixed notice account, but then realized the heading is Easy Access Accounts, so deleted it. I looked but couldn't find the fixed notice accounts thread.
Can someone direct me to the right thread, thanks

eskbanker

vjsuk wrote: »

I posted here regarding a fixed notice account, but then realized the heading is Easy Access Accounts, so deleted it. I looked but couldn't find the fixed notice accounts thread.
Can someone direct me to the right thread, thanks

I don't believe there is one dedicated to such accounts - they seemed to fall out of favour for a while and are barely covered in MSE's main savings article (where, at the time of posting, a token single account is mentioned), so there's a gap in the market for a forum member-maintained thread if you're volunteering to start one!

However, it's one thing to create a reference thread like that and an entirely different one to keep it updated....

Notice account info is published elsewhere at the likes of:
https://savingschampion.co.uk/best-buys/personal/notice-accounts/
https://www.money.co.uk/savings-accounts/notice-savings.htm