Welcome to Ask Jasmine, the column the place I spherical up a few 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 may help you with any questions you’ll have. Don’t neglect to depart any questions you’ve within the feedback beneath or e mail me on [email protected].
Hello Jasmine, I hope you may 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 how you can put money into gold? Which firm to make use of please. I do know there may be troublesome occasions forward. I’d admire any assist. Thanks.
Whats up Sylvia.
Thanks on your e mail. Sure, investing in gold is an efficient hedge towards inflation and tends to be one thing individuals do when occasions are unsure. As at all times, 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 bear in mind that nothing I write right here ought to be taken as monetary recommendation. It’s simply info and it’s good to communicate to a professional, impartial monetary advisor for actual recommendation.
Nevertheless, if you happen to’re considering shopping for gold there are numerous methods you can do it. We have now just a few articles on how you can do it and likewise an eBook that we wrote with the Royal Mint which I’ve hooked up right here.
In all probability the simplest methods to do it are both to purchase bodily gold (sovereigns or bars) which you are able to do from just a few 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 execs 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 at all times learn your e-newsletter which may be very informative and generally see you on the tv. That is my drawback. I don’t have a wise telephone 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 usually are not going to take action any extra.
I’ve found that it’s inconceivable to open a financial savings account with anybody except you’ve a cell phone and may open on line. The excessive avenue 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 mentioned –
I presume the shopper is in search of an Simple Entry account they’ll open by way of put up or phone, versus a discover or mounted price bond account? In that case, there are numerous choices out there to the shopper, largely at one of many varied Simple Entry accounts out there at one of many many constructing societies all through the UK.
The best Simple Entry account out there by way of put up is with Skipton Constructing Society, who’s Triple Entry Saver Situation 5 is paying 1.36 AER – though the important thing factor to recollect about this account is, while it’s Simple Entry, you may solely make 3 withdrawals per anniversary 12 months (primarily based on the date you open the account) – any subsequent withdrawals will end result within the closure of the account.
Alternatively, if the shopper is in search of an easy accessibility account with none withdrawal limits, her finest wager are with one of many following:
I hope that’s useful.
All the very best, Jasmine
Whats up 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? Trying ahead to listening to from you. Variety regards.
Hello there, Thanks for getting in contact about this. It does appear unfair!
Nevertheless, I requested one in every of my crew to look into it and that is what she got here up with:
“The foundations and T&Cs are fairly clear and have been in all probability agreed after they signed up (even when they didn’t learn the small print!):
I hope that helps!
All the very best, Jasmine
I’d be thankful for your recommendation on whether or not I’m doubtless to have the ability to get a mortgage please. I’m 69 years previous and wish to maneuver to a bungalow as I’ve arthritis in my toes and discover stairs fairly troublesome. There are some new bungalows being constructed as an over 55 growth however no costs can be found but. I wish to find out about loans earlier than I get my hopes up about shifting.
I hope that the sale of my home plus financial savings will cowl the associated fee 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 shifting prices. I spoke to Nationwide (over 55s assist crew) 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, despite the fact that I defined that I hope I’d solely want sufficient to cowl charges and shifting bills. I’ve two personal pensions plus my state pension which give me an earnings of £1,500 monthly and I stay nicely inside this. Thanks.
I spoke to David Hollingworth at London and Nation mortgages about this and that is what he mentioned:
“Lending past retirement is feasible so long as lenders could be assured that the mortgage will probably be inexpensive primarily based on the earnings and expenditure of the borrower. It might be potential to take a regular mortgage however lenders will usually have a most age on the finish of the mortgage time period. Some will max out at 75 however others will probably be extra versatile and think about lending to the next 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 certain it’s appropriate and enough safety for the mortgage. Retirement properties prohibit patrons to these over 55 and lenders might choose to keep away from properties that might discover a restricted market in the event that they ever needed to repossess and promote the property. Lenders will wish to make sure that the property received’t carry any onerous clauses that might have an effect on the flexibility to promote and worth of the property.
In consequence many will refuse to lend on retirement properties however others could also be extra versatile and be capable to think about them. The right lender alternative will rely on 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 worth and has a minimal mortgage quantity of £10,000. Approaching a mortgage adviser will assist make sure you goal the very best lender to fulfill your necessities.”
Hope that helps! All the very best, Jasmine.
Do you’ve a query for me? Go away it within the feedback beneath, or e mail me your query on [email protected]. I may reply it in subsequent week’s Ask Jasmine column.
Communicate subsequent week!