Ns& I Back

[rw42]

I'll be getting as much as i can as soon as i can - the last 3y lot i got has done nicely, and even assuming inflation drops to 3% odd thats still better than most other places i could expect tax free..

[Quicken]

Interesting, these are different figures from the ones I originally posted that I got from the NS&I site earlier. Yours appear to be correct.

Yes, it's strange. They have one set of figures here and another in the how they work tab here.

It seems they changed their mind from 0.25% AER to 0.5% AER and haven't updated all of the website material.

[koala_bear]

Interesting quote from the BBC article on the subject, the competition is complaining already and painting a picture of heart broken FTBs unable to get a mortgage.

NS&I works under rules that say it must not dominate the savings and investments market.

A spokeswoman for the Building Societies Association (BSA) said that any switch of savers' funds to NS&I could impact on how much lenders can give out in mortgages.

"We can see that the product is going to be popular, but it will inevitably have an impact on private sector institutions seeking to raise funds to lend to first-time buyers and other mortgage borrowers," she said.

[koala_bear]

3.6bn is the amount put into isas last year

and lloyds said they had 5bn put into savings last year too.

3.6bn would only be ~350k people investing their full ISA limits for one year - it sounds way too low.

I suspect Lloyds (via Halifax?) managed get the 5bn mainly by good ISA offerings aimed at getting previous years ISA funds reinvested in the Halifax.

[ccc]

Interesting quote from the BBC article on the subject, the competition is complaining already and painting a picture of heart broken FTBs unable to get a mortgage.

Amazing how much of a ****** all these ***** APPARENTLY give about FTB's these days - isn't it ? They couldn't give a toss in 2002-2008.

****** them. Have a read through both pages of this Scotsman article from yesterday with similar faux 'concern' from these muppets.

Scotsman

Jonathan Fair, chief executive of Homes for Scotland, said fixing the "broken housing ladder" should be a priority.

He said: "At a special hustings event held during the election campaign, there was complete consensus from all the main parties that getting first-time buyers back into the market was crucial to recovery in our sector. The key to this is increasing the flow of bank lending both to potential home owners and home builders."

Kennedy Foster, policy consultant for the Council of Mortgage Lenders in Scotland, also expects the SNP to deliver on its proposals. "I would envisage it would start taking those actions forward. We were supportive of the proposals, but more needs to be done on shared equity and we need to get first-time buyers back in the market," said Foster.

Complete *****. Let's do all we can do get young people to get into as much debt as humanly possible - all with the simple reason of my house not dropping in value. I hope these 2 ***** lose their own homes and get what they deserve. IMO of course.

[koala_bear]

Their remit is to raise £14bn this tax year. Do you think there was £14bn sitting in current accounts looking for a home?

At the maximum £15k investment they need 930k people to sign up to get £14bn as most won't be putting that away they will need a the publicity they can get.

I suspect they are hoping for a lot of reinvestment from previous index-linked holdings...

Given that it is only a 5 year deal no 3yr this time there will be fewer takers (how many HPCers would want to tie cash up for 5 years?)

A number of banks and building societies are doing ISAs aimed at hoovering up cash too, so other banks etc. will probably see large withdrawals denting new lending activity.

[exiges]

Listening to the NSAndi woman on five live this morning they're looking to raise £4bn, which she said amounts to 8% of the market

[bendy]

Interesting quote from the BBC article on the subject, the competition is complaining already and painting a picture of heart broken FTBs unable to get a mortgage.

may as well put the lot in then if you're saving for a home.

ftb's losing ot my ****, only the mug ones that think 200k is okay for a starter home.

you're only going to have to hang on a year to get at least some benefit, as has been said banks won't pay better than this, unless IR's rise at which point you withdraw and get back into ISA's/internet savings.

unless you dare dapple with commodities.

i'm now in gold/AUD/shitty ISA and NS&I

[rxe]

On sale from this morning.

Bought 15 grand's worth on the bus to work this morning. Will do the same for Mrs rxe when I get the money into her account. Might even do the same for Master rxe, but his little bruv will miss out, he's only 6.

Compared to the bank, this is an exceptional deal. RPI at the moment is 5.3% according to ONS. Therefore even if I cash them in at the end of year 1, I will double what the bank pays, and get it tax free. No brainer.

[kilroy]

Bought 15 grand's worth on the bus to work this morning. Will do the same for Mrs rxe when I get the money into her account. Might even do the same for Master rxe, but his little bruv will miss out, he's only 6.

Compared to the bank, this is an exceptional deal. RPI at the moment is 5.3% according to ONS. Therefore even if I cash them in at the end of year 1, I will double what the bank pays, and get it tax free. No brainer.

I applied for some for my 4 year old (can't do it online, but by post). My understanding is that under-7s cannot hold directly but a guardian can hold them for the benefit of an under-7, hence my application.

[Cinzano Bianco]

At the maximum £15k investment they need 930k people to sign up to get £14bn as most won't be putting that away they will need a the publicity they can get.

I suspect they are hoping for a lot of reinvestment from previous index-linked holdings...

Given that it is only a 5 year deal no 3yr this time there will be fewer takers (how many HPCers would want to tie cash up for 5 years?)

A number of banks and building societies are doing ISAs aimed at hoovering up cash too, so other banks etc. will probably see large withdrawals denting new lending activity.

You can withdraw any time.

[_w_]

Amazing how much of a ****** all these ***** APPARENTLY give about FTB's these days - isn't it ? They couldn't give a toss in 2002-2008.

****** them. Have a read through both pages of this Scotsman article from yesterday with similar faux 'concern' from these muppets.

Scotsman

Jonathan Fair, chief executive of Homes for Scotland, said fixing the "broken housing ladder" should be a priority.

He said: "At a special hustings event held during the election campaign, there was complete consensus from all the main parties that getting first-time buyers back into the market was crucial to recovery in our sector. The key to this is increasing the flow of bank lending both to potential home owners and home builders."

Kennedy Foster, policy consultant for the Council of Mortgage Lenders in Scotland, also expects the SNP to deliver on its proposals. "I would envisage it would start taking those actions forward. We were supportive of the proposals, but more needs to be done on shared equity and we need to get first-time buyers back in the market," said Foster.

Complete *****. Let's do all we can do get young people to get into as much debt as humanly possible - all with the simple reason of my house not dropping in value. I hope these 2 ***** lose their own homes and get what they deserve. IMO of course.

This hypocrisy is sickening.

[TheCountOfNowhere]

Gpt my 15K worth.

That's 15K less in the bank...15K more in the lying cheating governments coffers...who will probably give it to the banks

[TwoWolves]

My first thought was inflation to plummet! My second thought was interest rates to rise!?

+1

Exactly what went through my mind.

Also working overtime on the "quick get the troops out of Afghanistan" news.

The big one's coming and someone has been given the schedule.

[scottbeard]

My first thought was inflation to plummet! My second thought was interest rates to rise!?

My first thought was: government wants more money, but was just waiting for the ISA deadline to pass so banks had first dibs on people's savings.

Can't see how inflation is going to plummet, or interest rates rise, enough to make tax free IL certs a bad investment: and if for some reason that does happen you just cash them in.

[Dorkins]

By my rough + ready reckoner that means mortgage debt is going to cost ~ 7% - 5% risk free return + 2% operating costs + profit.

Risk free return? You're lending your money to a government which is already bankrupt, but the world hasn't realised yet.

[Dorkins]

You can withdraw any time if the government lets you.

Corrected for you.

[Cinzano Bianco]

Corrected for you.

Edited May 12, 2011 by the.ciscokid

[rxe]

Risk free return? You're lending your money to a government which is already bankrupt, but the world hasn't realised yet.

Yeah, yeah, but if you need to keep some assets in sterling (because you live here), this is a much better place to park the cash than the bank. Whatever happens they'll print their way out of it, but I'd rather have RPI+.5% on my tokens than nothing.

[guitarman001]

Somebody said RPI was 5.3%. BUT IIRC you only get back the DIFFERENCE in RPI from when you bought plus the bonus, no? So yuo CUOLD lose out if it goes lower... I bought last year and don't think I'll pile any more in.

[Ash4781]

Rather than invest I think I'll need the capital to pay the 10-15% increase in energy bills in the pipeline!

[dryrot]

Yeah, yeah, but if you need to keep some assets in sterling (because you live here), this is a much better place to park the cash than the bank. Whatever happens they'll print their way out of it, but I'd rather have RPI+.5% on my tokens than nothing.

+1. Got my £15k today.

Thanks OP!

[Lagarde's Drift]

Somebody said RPI was 5.3%. BUT IIRC you only get back the DIFFERENCE in RPI from when you bought plus the bonus, no? So yuo CUOLD lose out if it goes lower... I bought last year and don't think I'll pile any more in.

YES.

Yours is calculated on based on what the RPI value was when you purchased (or backdated slightly), and when you sell.

Not really anything to do with the headline RPI rate. And, the 0.5% bonus is headline, read the small print.

You don't lose out nominally if RPI goes down compared to when you bought. All you get then is the (paltry) bonus.

[Nationalist]

Rather than invest I think I'll need the capital to pay the 10-15% increase in energy bills in the pipeline!

Using capital to pay current costs is the road to ruin.

Try using 15% less energy.

[Quicken]

Somebody said RPI was 5.3%. BUT IIRC you only get back the DIFFERENCE in RPI from when you bought plus the bonus, no? So yuo CUOLD lose out if it goes lower... I bought last year and don't think I'll pile any more in.

I think you are confusing index with inflation. I also bought last year and I am up around 1k on the back of roughly 5 percent RPI inflation. It's also worth noting that if inflation goes negative (i.e. the index falls) your certificate value does not fall.

EDIT: typos on phone

Edited May 13, 2011 by Quicken