Fixed Bonds

Mumum

Please could anyone advise if this seems genuine or fishy? ABSL Ubmrella Fund, 5 yr fixed rate bond guaranteed return at 5.5% FCA and FSCS. I am planning calling them tomorrow to see if it can be purchased by a trust, but don’t want to be scammed. Too good to be true?

Mumum

Hmm the page I screenshot has “Ubmrella” and further down “umbrella”. I suppose that answers my question.

masonic

Mumum wrote: »

5 yr fixed rate bond guaranteed return at 5.5% FCA and FSCS

You can tell by the guaranteed return of 5.5% that it's too good to be true. Be very suspicious of anything much above 2%.

NedS

As the best 5-year fixed rate savings products are currently paying 2.0-2.1%, I would suggest much caution for anything offering substantially more.

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavings

To achieve a 5% return involves taking risks, and that inherently mean investments (and a 10 year plus time frame), not a savings product.

Mumum

Thank you both. I’ll definitely avoid then. Is it worth looking outside of MSE for saving bonds or does Martin always have the top deals on here? 1 yr fixed rate at 1.65% with Atom seems to be the best option on here. Assuming it can be purchased by a trust. I’m spending an awful lot of time looking for better deals but am I wasting my time?

masonic

Mumum wrote: »

Thank you both. I’ll definitely avoid then. Is it worth looking outside of MSE for saving bonds or does Martin always have the top deals on here? 1 yr fixed rate at 1.65% with Atom seems to be the best option on here. Assuming it can be purchased by a trust. I’m spending an awful lot of time looking for better deals but am I wasting my time?

The MSE best buys are in most cases the best available. https://www.moneysupermarket.com/savings/ will give you a more comprehensive set of results, but you'll need to click the 'Choose Provider' button and turn off 'Only show results I can open through Moneysupermarket'.

QIB UK through Raisin comes out slightly better at 1.7% but you'll probably not be able to open through a trust.

Mumum

Ah that’s better. Thank you Masonic. I now have a comprehensive list of the bonds out there all in the one place. Any tips on working out which can be purchased by trusts, other than ringing each and every one?

masonic

Mumum wrote: »

Ah that’s better. Thank you Masonic. I now have a comprehensive list of the bonds out there all in the one place. Any tips on working out which can be purchased by trusts, other than ringing each and every one?

It's quite an unusual request, so there probably isn't an easier way to find out than phoning them.

Mumum

Rather frustrating after all of that to find that the bonds (including the ones shown which cannot be opened via MS) cannot be purchased via a Trust account. They are for personal accounts only

masonic

Mumum wrote: »

Rather frustrating after all of that to find that the bonds (including the ones shown which cannot be opened via MS) cannot be purchased via a Trust account. They are for personal accounts only

Is the following information of any help?
https://www.markthompsonlaw.com/best-bank-or-building-society-account-for-personal-injury-trust/personal-injury-trust-to-protect-personal-injury-compensation/