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High interest rate

Hi,
please help me out and give me some advice as I have no experience in finance and saving matters.
i have been offered investment saving with 8% interest for 2 years fixed by YOUROPTIONS finance advisors to invest my £20000 saving in NORTHERN PROVIDENT LTD company.
I’m not sure if I can trust them or not? 
Please help me out.
 Thank you in advance.
«1

Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    Its. A. Scam.

    No, you cannot trust them because they are scammers in one way or another.
    They'll either steal your money directly or invest it in something with a higher chance of crashing than Richard Hammond.

    Stop answering Facebook ads or looking on Google for investments.
  • ColdIron
    ColdIron Posts: 9,642 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    An impossibly high rate. It's a scam. Just walk away and as AJ says, stop using Facebook and Google for financial products
  • As above. 
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Definitely a scam.

    There is no company by the name of YOUROPTIONS on the FCA register. 

    NORTHERN PROVIDENT LTD are FCA authorised but they do not offer a fixed 2-year 8% savings product. Nobody has such an offer.
  • Aretnap
    Aretnap Posts: 5,543 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    London Capital and Finance, and Blackmore Bonds, to name but two, also offered inexperienced investors improbably high returns with misleading advertising which implied that their [s]Ponzi scams[/s] very high risk commercial loans were somehow safe or comparable to savings accounts. 

    You can Google those company names to find out how things ended up for their investors. 

    There is no reason whatsoever to believe that this one will end any differently. 

    For avoidance of doubt, if anyone tells you that this "investment" is safe, they will be lying to you. You would be lending the full £20K to a single tiny company whose finances and business model you have no understanding of, and if that company goes bust then nobody is going to bail you out or compensate you. 


  • dunroving
    dunroving Posts: 1,881 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Ariabetty said:
    Hi,
    please help me out and give me some advice as I have no experience in finance and saving matters.
    i have been offered investment saving with 8% interest for 2 years fixed by YOUROPTIONS finance advisors to invest my £20000 saving in NORTHERN PROVIDENT LTD company.
    I’m not sure if I can trust them or not? 
    Please help me out.
     Thank you in advance.
    If I were inexperienced like you, I'd put the lot in Premium Bonds until I have learned enough about other investments to know what I'm doing. Get a basic book on investment (a UK one, not US). You'd do well to read this thread before going any further: https://forums.moneysavingexpert.com/discussion/5855700/best-beginner-books-for-buying-stocks-shares
    (Nearly) dunroving
  • RobM99
    RobM99 Posts: 2,642 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    De.
    Now a gainfully employed bassist again - WooHoo!
  • kinger101
    kinger101 Posts: 6,525 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 7 July 2020 pm31 9:07PM
    Run away.  You're probably on someone's mug list now, so expect lots more communication from fraudsters in the future.  If it sounds to good to be true, it most probably is (some lowlife thieving git trying to steal your cash).
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • coachman12
    coachman12 Posts: 1,069 Forumite
    1,000 Posts Name Dropper Photogenic
    kinger101 said:
    Run away.  You're probably on someone's mug list now, so expect lots more communication from fraudsters in the future.  If it sounds to good to be true, it most probably is (some lowlife thieving git trying to steal your cash).
    Yes-----so many of them around aren't there !
  • lhsecons
    lhsecons Posts: 128 Forumite
    100 Posts Second Anniversary Name Dropper
    Youroptions appears to be a private limited company with 1 director called Ashley Parkin-Beacher. A quick google search reveals that in the last 10 years he has been involved with 5 other companies all of which have been dissolved. Don’t touch with a barge pole !!
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