The Money Thread...

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That's not a growth
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PostRe: The Money Thread...
by That's not a growth » Fri Mar 17, 2017 3:32 pm

I remember reading in the past the LISA is good if you know for certain you're going to buy a house, but H2BISA is better if you might not. I'll need to read into it a lot more to figure out if I'm going to transfer my H2BISA.
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Curls
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PostRe: The Money Thread...
by Curls » Fri Mar 17, 2017 3:44 pm

It all depends how much money you're willing to put in....

If you're happy just putting in £200 a month then, HTB isa is better as they won't take any money back off you if you don't buy.

However if you are almost definitely saving that money for a mortgage, then LISA is better, as you can transfer your Help to Buy Isa over (I've saved £4400 in that now after opening it from day one (Dec 2015) when including the initial £1000 deposit.) and then add an extra £4000 for the 2017-2018 financial year.... Where as if you stuck with help to buy you can only add £200 a month. (2400 a year)

That means by April 2018...I'll have £8600 in my Lifetime Isa compared to £6000 that I would save from sticking with HTB ISA. Obviously you need to aquire these funds to input, so if you don't have the income to save back £4000 in one year, there probably isn't too much point in saving....except for the fact that with the LISA you can put your deposit down on a more expensive house.
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PostRe: The Money Thread...
by That's not a growth » Fri Mar 17, 2017 4:37 pm

That's true, but putting money in a H2BISA doesn't stop you putting money else where if you can save more than 200 a month. I need to compare scenarios about if i were to buy in, say, 12 months, 24 months, 36 months and 48 months and see how each option compares.
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PostRe: The Money Thread...
by Glowy69 » Sat Mar 18, 2017 1:07 pm

Got my free £110 for switching to the co op bank last week, 28 days after I opened the account. 8-)
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Meep
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PostRe: The Money Thread...
by Meep » Mon Apr 17, 2017 9:11 pm

Hi there, I have a question regarding balances.

I tried ordering something from a site and the payment was approved but the order failed when the site failed to load afterwards (no order on the store account or email confirmation). However, the amount has been deducted from my "available balance". How long will it remain like this? Will it just reset itself after a certain time and the funds are not taken?

I tried finding out but there is no information on Nationwide than seems relevant.
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Errkal
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PostRe: The Money Thread...
by Errkal » Wed Apr 19, 2017 2:10 pm

I would call the company you were buying from, it sounds like the payment was made and the order failed on their side. The payment and order are 2 seperate things in reality and the website just brings the two sides together.
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Lotus
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PostRe: The Money Thread...
by Lotus » Mon Apr 24, 2017 3:41 pm

Has anybody opened one of these Lifetime ISAs? Or are you planning to? My understanding is that only a handful of providers offer them at the moment, and that uptake has been fairly slow. Any thoughts on pros and cons?
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PostRe: The Money Thread...
by Glowy69 » Mon Apr 24, 2017 3:44 pm

Meep wrote:Hi there, I have a question regarding balances.

I tried ordering something from a site and the payment was approved but the order failed when the site failed to load afterwards (no order on the store account or email confirmation). However, the amount has been deducted from my "available balance". How long will it remain like this? Will it just reset itself after a certain time and the funds are not taken?

I tried finding out but there is no information on Nationwide than seems relevant.


About 5 days, it should have gone back on by now.
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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Mon Apr 24, 2017 4:17 pm

Lotus wrote:Has anybody opened one of these Lifetime ISAs? Or are you planning to? My understanding is that only a handful of providers offer them at the moment, and that uptake has been fairly slow. Any thoughts on pros and cons?

I think the main reason uptake has been slow is because the banks are somewhat reluctant to offer them as there's little profit to be made in them.
I am planning to open one as I'm under the age limit for them but it's going to take time for all of the banks to really offer them.
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Grumpy David
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PostRe: The Money Thread...
by Grumpy David » Tue Apr 25, 2017 7:45 am

Lagamorph wrote:
Lotus wrote:Has anybody opened one of these Lifetime ISAs? Or are you planning to? My understanding is that only a handful of providers offer them at the moment, and that uptake has been fairly slow. Any thoughts on pros and cons?

I think the main reason uptake has been slow is because the banks are somewhat reluctant to offer them as there's little profit to be made in them.
I am planning to open one as I'm under the age limit for them but it's going to take time for all of the banks to really offer them.


Unless you are planning to buy a house with it in the near future, you're better off using it as a back up pension and buying stocks with it rather than using it to save cash.

Only problem is the 3 stock providers all charge higher fees than my regular ISA. 0.45% doesn't sound that bad but it's not 0.45% of the profit, but on the entire value of the portfolio. My ISA cost with Charles Stanley Direct is 0.25% so almost half.
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Curls
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PostRe: The Money Thread...
by Curls » Fri Apr 28, 2017 5:09 pm

Can someone help me to understand Stocks and share ISA. I've read something on moneysavingexpert that has totally confused me...

A. You don't pay capital gains tax (CGT) on gains made within an ISA - great if you exceed the £11,300 annual CGT allowance.

CGT is a tax you'll have to pay on the gain you make when selling things such as shares, a second home (you don’t pay capital gains on selling your first home) and jewellery.

So if you buy shares at £1,000 and then sell them for £1,500, you’ve made a £500 gain. You might then have to pay tax on that. But it’s important to understand that...

You’re allowed to make £11,300 of gains this tax year (2017/18) tax-free outside an ISA. So you would ONLY gain using a stocks & shares ISA in a year where you were making total gains over £11,300.


So is this saying that unless I'm making investments of over 11,500 i gain nothing?

Now I have 1k to invest and dont know what to do with it...I already have my Help to buy Isa and a regular saver I'm maxing out. I thought a stocks and shares ISA/LISA may be the best option but I just don't understand them?

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