Welcome to Ask Jasmine, the column the place I spherical up a number of the questions I’ve obtained from readers every week. This week, I reply questions on investing in gold, on-line banking, Avios factors and loans.
I hope these solutions can assist you with any questions you could have. Don’t neglect to go away any questions you’ve within the feedback under or electronic mail me on firstname.lastname@example.org.
Hello Jasmine, I hope you’ll be able to assist me, my father handed away 2 months in the past and I inherited some cash. I heard when issues are unstable, individuals put money into gold. Have you learnt the right way to put money into gold? Which firm to make use of please. I do know there may be tough instances forward. I’d recognize any assist. Thanks.
Thanks on your electronic mail. Sure, investing in gold is an efficient hedge towards inflation and tends to be one thing individuals do when instances are unsure. As all the time, in fact, it’s not a good suggestion to place all your cash into anyone factor, however you can put a portion of your money into gold.
Do remember that nothing I write right here must be taken as monetary recommendation. It’s simply data and you should converse to a certified, impartial monetary advisor for actual recommendation.
Nonetheless, should you’re enthusiastic about shopping for gold there are numerous methods you can do it. We’ve a couple of articles on the right way to do it and in addition an eBook that we wrote with the Royal Mint which I’ve connected right here.
In all probability the best methods to do it are both to purchase bodily gold (sovereigns or bars) which you are able to do from a couple of firms together with the Royal Mint and ATSbullion.com amongst others (both on-line or in individual) or you can do digital gold with Bullionvault.com or the Royal Mint. There are professionals and cons to each however you can do a little bit of each and see which you’re happiest with.
Hope that helps!
All finest, Jasmine
Hello Jasmine, I all the time learn your publication which may be very informative and generally see you on the tv. That is my downside. I don’t have a sensible cellphone and I don’t financial institution on-line. I don’t like both. I’ve a financial savings account with Saga which I’m able to entry by phone, however it’s being discontinued as Berkshire Midlands who administer it should not going to take action any extra.
I’ve found that it’s not possible to open a financial savings account with anybody until you’ve a cell phone and may open on line. The excessive road financial institution has a financial savings account however the curiosity is depressing. Is there any various? Finest regards.
I hope the next is useful:
I checked with Daniel Darragh of Financial savings Champion on this query and that is what he stated –
I presume the shopper is on the lookout for an Simple Entry account they’ll open through submit or phone, versus a discover or fastened charge bond account? In that case, there are a lot of choices obtainable to the shopper, largely at one of many varied Simple Entry accounts obtainable at one of many many constructing societies all through the UK.
The very best Simple Entry account obtainable through submit is with Skipton Constructing Society, who’s Triple Entry Saver Problem 5 is paying 1.36 AER – though the important thing factor to recollect about this account is, while it’s Simple Entry, you’ll be able to solely make 3 withdrawals per anniversary 12 months (based mostly on the date you open the account) – any subsequent withdrawals will consequence within the closure of the account.
Alternatively, if the shopper is on the lookout for an quick access account with none withdrawal limits, her finest wager are with one of many following:
I hope that’s useful.
All the perfect, Jasmine
Hiya Jasmine, I’ve been knowledgeable by BA my 21,441 avios factors will expire in lower than a month. I’ve no plans of travelling this 12 months, may you advise me what actions I may take to retain my factors? Wanting ahead to listening to from you. Variety regards.
Hello there, Thanks for getting in contact about this. It does appear unfair!
Nonetheless, I requested one in every of my group to look into it and that is what she got here up with:
“The foundations and T&Cs are fairly clear and have been most likely agreed after they signed up (even when they didn’t learn the small print!):
I hope that helps!
All the perfect, Jasmine
I’d be pleased about your recommendation on whether or not I’m possible to have the ability to get a mortgage please. I’m 69 years outdated and want to maneuver to a bungalow as I’ve arthritis in my toes and discover stairs fairly tough. There are some new bungalows being constructed as an over 55 improvement however no costs can be found but. I wish to learn about loans earlier than I get my hopes up about transferring.
I hope that the sale of my home plus financial savings will cowl the price but when that isn’t the case I’ve been looking for out whether or not I may get a mortgage to cowl, say, the charges and transferring prices. I spoke to Nationwide (over 55s assist group) who I financial institution with however they are saying they don’t give funding on developments for over 55s and that they don’t give loans towards property, regardless that I defined that I hope I’d solely want sufficient to cowl charges and transferring bills. I’ve two non-public pensions plus my state pension which give me an revenue of £1,500 per thirty days and I stay nicely inside this. Thanks.
I spoke to David Hollingworth at London and Nation mortgages about this and that is what he stated:
“Lending past retirement is feasible so long as lenders will be assured that the mortgage shall be inexpensive based mostly on the revenue and expenditure of the borrower. It may very well be doable to take a typical mortgage however lenders will typically have a most age on the finish of the mortgage time period. Some will max out at 75 however others shall be extra versatile and think about lending to a better most age.
As well as there are Retirement Curiosity Solely (RIO) mortgages which might be particularly designed for older debtors and take away the necessity for a specified mortgage time period altogether, with curiosity funds made every month and the mortgage solely repayable on sale, on demise or a transfer into long run care.
In addition to affordability lenders will think about the kind of property to make sure it’s appropriate and enough safety for the mortgage. Retirement properties prohibit consumers to these over 55 and lenders could want to keep away from properties that would discover a restricted market in the event that they ever needed to repossess and promote the property. Lenders will need to ensure that the property received’t carry any onerous clauses that would have an effect on the flexibility to promote and worth of the property.
Consequently many will refuse to lend on retirement properties however others could also be extra versatile and have the ability to think about them. The proper lender alternative will depend upon the specifics of the property however a specialist RIO lender like Livemore can think about retirement properties for over 55s for loans of as much as 50% of the acquisition value and has a minimal mortgage quantity of £10,000. Approaching a mortgage adviser will assist make sure you goal the perfect lender to fulfill your necessities.”
Hope that helps! All the perfect, Jasmine.
Do you’ve a query for me? Depart it within the feedback under, or electronic mail me your query on email@example.com. I may reply it in subsequent week’s Ask Jasmine column.
Communicate subsequent week!