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Re: The Money Thread...

Posted: Fri Aug 19, 2016 10:56 am
by bigcheez2k3
Check the t+c's first, usually have to stay with them for a certain time or they ask for the money back.

Re: The Money Thread...

Posted: Fri Aug 19, 2016 11:21 am
by Curls
bigcheez2k3 wrote:Check the t+c's first, usually have to stay with them for a certain time or they ask for the money back.


I hope first direct didn't have any as I just moved from them after about 11 months!

Re: The Money Thread...

Posted: Fri Aug 19, 2016 11:50 am
by Glowy69
It's normally 6 months.

Re: The Money Thread...

Posted: Fri Aug 19, 2016 5:49 pm
by I Believe In Stool Bloke
I was thinking of taking advantage of that £150 switching reward. How much of a hassle was it for you to make the move, Curls?

Re: The Money Thread...

Posted: Fri Aug 19, 2016 6:39 pm
by Glowy69
Oblomov Boblomov wrote:I was thinking of taking advantage of that £150 switching reward. How much of a hassle was it for you to make the move, Curls?


Theres no hassle. Its all backed by the switch guarantee. However as curls has found out, the co op are gooseberry fool

Re: The Money Thread...

Posted: Fri Aug 19, 2016 10:34 pm
by Glowy69
Anyone had any experience using the help to buy isa to purchase their first property yet?

Re: The Money Thread...

Posted: Sun Aug 21, 2016 5:04 pm
by Curls
Oblomov Boblomov wrote:I was thinking of taking advantage of that £150 switching reward. How much of a hassle was it for you to make the move, Curls?



The move was fine, you need an hour or so to talk on the phone and listen to all the terms and conditions drivel they have to talk about, but otherwise it's fine.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 9:59 am
by Pan
Glowy69 wrote:Anyone had any experience using the help to buy isa to purchase their first property yet?


No, but I read that you don't get the government contribution until you've completed, which does seems a bit backwards. I understand the reasons but it doesn't seem to help the people who need the initiative the most.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 5:16 pm
by Tomous
Pan wrote:
Glowy69 wrote:Anyone had any experience using the help to buy isa to purchase their first property yet?


No, but I read that you don't get the government contribution until you've completed, which does seems a bit backwards. I understand the reasons but it doesn't seem to help the people who need the initiative the most.


The government contribution is contingent on it being put towards a qualifying property so they don't give it to you until you have that deal in place.

You can still earn interest on it like a normal ISA though.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 5:39 pm
by Grumpy David
Tomous wrote:
Pan wrote:
Glowy69 wrote:Anyone had any experience using the help to buy isa to purchase their first property yet?


No, but I read that you don't get the government contribution until you've completed, which does seems a bit backwards. I understand the reasons but it doesn't seem to help the people who need the initiative the most.


The government contribution is contingent on it being put towards a qualifying property so they don't give it to you until you have that deal in place.

You can still earn interest on it like a normal ISA though.


It was advertised as save £200 and we'll top up £50 to use as a deposit but it's not like that in reality.

You transfer your 5/10% deposit on exchange, but only get the cashback after completing on the sale meaning you need to have the full deposit to start with. The help to buy ISA is therefore really help to pay the first mortgage payment or two as you don't get the money early enough to boost the deposit.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 6:57 pm
by Glowy69
Grumpy David wrote:
Tomous wrote:
Pan wrote:
Glowy69 wrote:Anyone had any experience using the help to buy isa to purchase their first property yet?


No, but I read that you don't get the government contribution until you've completed, which does seems a bit backwards. I understand the reasons but it doesn't seem to help the people who need the initiative the most.


The government contribution is contingent on it being put towards a qualifying property so they don't give it to you until you have that deal in place.

You can still earn interest on it like a normal ISA though.


It was advertised as save £200 and we'll top up £50 to use as a deposit but it's not like that in reality.

You transfer your 5/10% deposit on exchange, but only get the cashback after completing on the sale meaning you need to have the full deposit to start with. The help to buy ISA is therefore really help to pay the first mortgage payment or two as you don't get the money early enough to boost the deposit.


Yes, so I've heard. The massive thundercunts. Funnily enough it doesn't help you to buy anything does it?

Luckily our solicitor will draw down the bonus and deduct it off the bill they send us for the deposit and the fees. :shifty: thats how they've been doing it since november. George Osbourne lying..well i never. They also altered the wording on their website friday night as the t&c's didn't reflect this.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 7:13 pm
by Tomous
I didn't realise that. Yeah that's bollocks.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 7:19 pm
by Glowy69
Tomous wrote:I didn't realise that. Yeah that's bollocks.


Thing is the government have got a shitstorm coming their way, osbourne said in his unveiling of said isa that if you had 12000 for a deposit, they would top it up to 15k :slol: strawberry floating knobs, and dig a little deeper there are lots of people that have had house purchases fall through due to the hole in their deposit, sometimes after paying legal fees :|

So if anyone fancies taking HM treasury or a bank to court over it, chances are you'll win, quite convincingly, just by using the name of the account, help to strawberry floating buy

Re: The Money Thread...

Posted: Mon Aug 22, 2016 7:48 pm
by CuriousOyster
Didn't realise this either :| ffs.

Thought least Martin Lewis would have spelled this out hes usually good for that kind of thing.

Re: The Money Thread...

Posted: Mon Aug 22, 2016 8:06 pm
by Glowy69
CuriousOyster wrote:Didn't realise this either :| ffs.

Thought least Martin Lewis would have spelled this out hes usually good for that kind of thing.


I watched his intro to the isa and he does. But it isn't clear. None of it is. It shouldn't be strawberry floating called help to buy. It's basically mis selling straight away. It's not helping anyone to buy anything. I think a lot of people expected the bonus before the deposit was paid. Depending on who you speak to, solicitor wise will say when they draw the money down off the government's website. So erm yeah. Bit of a shitter. Especially for someone who thinks they're using it for the deposit.


And massively underhand then altering their website Friday night.

Re: The Money Thread...

Posted: Tue Aug 23, 2016 8:57 am
by Glowy69
http://www.moneysavingexpert.com/saving ... A#exchange

This should help. Seems if you're upfront about using the bonus as part of your deposit a lot of solicitors/sellers will adjust things accordingly to help. As the seller will get their money on completion anyway...

Re: The Money Thread...

Posted: Thu Aug 25, 2016 7:29 pm
by Slayerx
Kind of money related.

Revolut debit card or app card you can load money on and get better exchange rates to use overseas.

It's a master card I believe so should be usable most places and the current rates are a few points higher than the post office.

As you load via debit card no fee's at all.

Re: The Money Thread...

Posted: Fri Sep 09, 2016 9:42 am
by Curls
Glowy69 wrote:It's normally 6 months.



http://www.moneysavingexpert.com/news/b ... -bank-tart



Going back to this. I've had my incentive £150 from coop now but I still really dislike their online banking, ap and call lines. So I'm reading through the terms and conditions.

I can't find anything stating a minimum period to hold the account for? Surely now it's in my account, if I go to another bank and do the account switching guarantee, it'll be fine to do? Hell I've only had the account open two months, but from what I can read it'll be fine. Anyone know which part of the usually LONG terms and conditions pages i can find this.

The only thing I can read on the website is this (spoilers for big.)

http://www.co-operativebank.co.uk/assets/pdf/bank/currentaccounts/common/banking-terms-and-conditions.pdf

What happens when you or we close your account?
16.8 When you or we close your account we’ll pay you any money in your account and you must repay
any money you owe us. Until you pay us, the terms of this agreement will continue to apply and we’ll
continue to apply interest and charges until the date the account is closed.

16.9 Any payment devices or other devices (such as card readers to access Online Banking) that we have
given you remain our property. You must return them to us when this agreement ends.
16.10 If you have a packaged account which you close or convert to another current account part way
through the month, you’ll only pay fees to cover the part of the month for which you held the
packaged account.
16.11 If a sole account holder dies, we may require a grant of probate or letters of administration before
releasing any money in your account to your executors or personal representatives.


I feel that I could probably get away with it now I've got the money in my account...but I do worry slighltly about 16.8...but i don't technically 'owe' it to them .

Re: The Money Thread...

Posted: Fri Sep 09, 2016 9:48 am
by Curls
And perhaps a more useful T & S.....http://www.co-operativebank.co.uk/asset ... rTerms.pdf

I think I'll be safe to move from them now.

But I just thought I'd run it by you savvy peeps.

I may join the MSE forums too. This stuff is really starting to interest me, kind of sad, but ya know :shifty:

Re: The Money Thread...

Posted: Fri Sep 09, 2016 2:29 pm
by Slayerx
I spend a few hours a day on the MSE forums posting and learning.