Interested to see what others are planning to do...

Phaelok · 16 October 2016 at 4:41PM

Hi everyone,

I have around £40,700 in different accounts as shown below;

£20k in Santander 123 (reduced to 1.5% from next month)
£6k in Tesco accounts (2 x 3%)
£3k in Halifax HTB ISA (4%)
£8920 in club lloyds (2%)
£800 - Lloyds saver account
£2000 - TSB account (1.5% on £1500)

I tried to move as much money as possible to get the best possible returns, but at the same time making sure that I don't exceed the £1000 a year interest.

In light of there being a number of accounts with a reduction in interest being paid, would it be wise to open yet more accounts?

I am saving for a deposit for a house and put aside £1800 a month. At this rate I feel PBs may be the next option =(

colin79666 · 16 October 2016 at 4:48PM

If you are saving each month then a regular saver would sound like the kind of account for you. The Virgin fixed rate one isn't too bad, you don't need to have a current account with them and you can get your money out when you like.

Aside from that I'd really recommend looking at an ISA next tax year. It might be difficult to get taxed now but rates will rise at some point, perhaps sooner than later if inflation becomes an issue. Keep going with the H2B ISA meantime.

YorkshireBoy · 16 October 2016 at 4:49PM

£1,800 a month should have been going into regular savers really, with most of them having fixed rates. You could/should really have had £800 in 6% (FD/HSBC/M&S, £700 in 5% (Nationwide & Santander), and £400 in Club Lloyds for 4% (3% from earlier this year).

But I notice you have no BoS Vantage, so room for £15K there at 3%.

Why are you trying to avoid exceeding your BR tax-payer PSA? Surely overall return is the aim?

PBs won't help you save for a house, unless you win more than prices rise in the interim.

Kendall80 · 16 October 2016 at 5:50PM

I'm planning on taking up a few more reg. savers, increasing my P2P allocation and investing more in my ISA/SIPP. PBs are an option but low down my list at the moment.

I prefer to keep my 40k CC stooze in instant access savings or current accounts. Thats becoming increasingly difficult - at worthwhile rates.

YorkshireBoy · 16 October 2016 at 6:05PM

Kendall80 wrote: »

I'm planning on taking up a few more reg. savers, increasing my P2P allocation and investing more in my ISA/SIPP. PBs are an option but low down my list at the moment.

Similar to my own approach (with the exception of P2P, which I've yet to get into). I've been scrapping around for 2%, 2.25%, and 2.3% regular savers. All of which are very low, but still better than Santander at 1.5%...and 2 of them actually better than Lloyds will be come January!

I prefer to keep my 40k CC stooze in instant access savings or current accounts. Thats becoming increasingly difficult - at worthwhile rates.

This is why I never pay a BT fee. You can never guarantee a return going forward. Plus I'm fortunate that my high interest current accounts are all maxed out with my own cash!

Dird · 16 October 2016 at 6:38PM

My plan is to plough into S&S ISA in January any accounts that drop below 3%. If this is too much (no reasonable emergency fund) then I'll keep some in club lloyds & open their regular saver

Mr_K · 16 October 2016 at 7:22PM

Gradually transferring half of my cash ISA into my stocks and ISA.Too risky to do it all at once. My shares ISA has averaged a 9% a year return over the last 10 years. As for Reg. Savers, peanuts at the end of the day, despite their seemingly good rates.

redmalc · 16 October 2016 at 7:36PM

Mr K

I was thinking of doing the same with my cash ISA,s that mature in December.
I still think we are going to get a correction shortly on the FTSE at which time I will buy.

bigfreddiel · 16 October 2016 at 8:04PM

Mr_K wrote: »

Gradually transferring half of my cash ISA into my stocks and ISA.Too risky to do it all at once. My shares ISA has averaged a 9% a year return over the last 10 years. As for Reg. Savers, peanuts at the end of the day, despite their seemingly good rates.

If your S&S ISA has averaged 9% over the last ten years I wouldn't wait, just transfer all your cash now, keep 6 months equivalent salary in cash of course.

Nice one fj

Pincher · 16 October 2016 at 8:34PM

Half and half.

Half in boring very low interest deposits. I even have a five year 1.75%. Respect the FSCS limit, and have more in NS&I.

Half in Equity.

In the last year, equity is winning hands down, and dividend has been juicy.

Does that mean I will move more cash into equity? Ha, it's trying to sucker me in. No way, Jose.

I am nursing quite a bit of capital gains, which will force me into higher rate tax if I sell now. Waiting till April 2017, so I can use up the capital gains and dividend allowances for 2017/18.

I aim to be out by 2018, when there will be a crash, according to my religion: Years ending in 8 will have a boom and a crash. Not recruiting, but if it does happen, let's see if you get religious too.

iAMaLONDONER · 17 October 2016 at 6:22AM

Pincher wrote: »

Half and half.

Half in boring very low interest deposits. I even have a five year 1.75%. Respect the FSCS limit, and have more in NS&I.

Half in Equity.

In the last year, equity is winning hands down, and dividend has been juicy.

Does that mean I will move more cash into equity? Ha, it's trying to sucker me in. No way, Jose.

I am nursing quite a bit of capital gains, which will force me into higher rate tax if I sell now. Waiting till April 2017, so I can use up the capital gains and dividend allowances for 2017/18.

I aim to be out by 2018, when there will be a crash, according to my religion: Years ending in 8 will have a boom and a crash. Not recruiting, but if it does happen, let's see if you get religious too.

So what about 1988 or 1998?

Interested to see what others are planning to do...

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