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    • vipa316
    • By vipa316 19th Mar 17, 8:51 PM
    • 15Posts
    • 1Thanks
    Advice on further reading/recommendations on investing
    • #1
    • 19th Mar 17, 8:51 PM
    Advice on further reading/recommendations on investing 19th Mar 17 at 8:51 PM
    Hi all,

    I have recently remortgaged whilst keeping a small buffer for emergencies, and due to my circumstances I would be saving around 1,200 a month after overpaying my mortgage by the maximum 10% allowance.

    Having sorted out the mortgage, I am looking to potentially invest some or all of the remaining amount I would save on a monthly basis. I have already maximised my pensions potential from my place of employment.

    I have a Santander 123 account and a nationwide flex direct account with the linked 500 savings account in regards to bank/savings accounts.

    Looking around this forum, I have noticed a few different names popping up:
    - Nutmeg
    - Fidelity
    - Hargreaves Lansdown
    - Vanguard
    - Ratesetter
    - Zopa

    I understand that some are investments and some P2P, and have tried to look directly at these websites for more information, but it is a little tricky not knowing what to look for. Can anybody shed light into what I should be looking for when deciding where to invest and how to invest?
    I can use this as part of my ISA for next year and I am looking more medium to long term as my mortgage will be paid off within 6 years.

    With around 1,200 a month to invest and around 3k to start with, what would you recommend I should look into?

    Personally as my P2P option, I was thinking of starting with 1k with ratesetter to get the 100 bonus after 1 year and see how this performs during the year, But after that, I am a little lost.

    Any advice would be much appreciated.
Page 1
    • bigadaj
    • By bigadaj 19th Mar 17, 10:53 PM
    • 10,814 Posts
    • 7,137 Thanks
    • #2
    • 19th Mar 17, 10:53 PM
    • #2
    • 19th Mar 17, 10:53 PM
    First of all how much do you earn, if you are in 40% tax category then additional pension payments are a cracking deal.

    Overpaying a mortgage is often a poor idea if you have a low interest rate, though it is nice psychologically to be clearing debt.

    Have a read of monevator the website as that will give you a good background for investing principles, it is passive biased so take that element with a pinch of salt, paying more for active managers may be worthwhile but it's a personal choice really.

    The Ratesetter bonus deal is quite good but the normal rates there and at Zopa are pretty low for the potential risk, have a read if the p2p independent forum for some explanation and up to date information of many platforms.
    • vipa316
    • By vipa316 20th Mar 17, 10:55 AM
    • 15 Posts
    • 1 Thanks
    • #3
    • 20th Mar 17, 10:55 AM
    • #3
    • 20th Mar 17, 10:55 AM
    I am currently below the 40% tax category. The earliest I can foresee myself moving into this bracket is next summer.

    In regards to the mortgage, I presume you are referring that it would be better the invest long term to potentially reach a higher return compared to the interest that would build on the mortgage. I was thinking along the lines of annual interest v potential investment earnings on an annual basis, and then perhaps trying to clear the debt and invest the rest.

    I did have a glance over the Monevator website last night, I'll look to have a more detailed read now.

    I have read that some people have not received the best returns on P2P, however I would need to check on the likelihood of the returns being impacted even with the bonus. I'll have a look at the independent forums on that side.

    Thank you!
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