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Bit of financial advice please...

OldBlueLady

Junior Blues Coordinator⭐
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You have my sympathy. Been there and done it. I know you can get premium bonds back as had the same problem. Just had to fill in a form.

And the guy doesn't always end up worse off!

Well, I'm definitely paying a very heavy price for something that is absolutely no fault of mine whatsoever and which I've tried my hardest to find a solution to for the last 4 years.

Dave, we definitely pay a monthly fee atm of about £12. Is my best course of action just to write to them?

it sounds like they both got a result in the end getting rid of you winging brasses

Yes thanks for that, very illuminating and I assume you mean whinging?
 

DTS

The Business
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Well, I'm definitely paying a very heavy price for something that is absolutely no fault of mine whatsoever and which I've tried my hardest to find a solution to for the last 4 years.

Dave, we definitely pay a monthly fee atm of about £12. Is my best course of action just to write to them?

If yor paying that then I would suggest its probably a managed fund. I would call them first and ask them what your £12 is for.

Tell them all you want is for them to hold the shares for you your not looking for any form of active management.

If they say tough then you need to look for an ISA transfer (Sounds hard but its not) and I will try and help you with that.

If they say we have a better deal see what you think.
 

OldBlueLady

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If yor paying that then I would suggest its probably a managed fund. I would call them first and ask them what your £12 is for.

Tell them all you want is for them to hold the shares for you your not looking for any form of active management.

If they say tough then you need to look for an ISA transfer (Sounds hard but its not) and I will try and help you with that.

If they say we have a better deal see what you think.


Ok thanks for that.
 

jstallan

Coach
Joined
Nov 24, 2004
Messages
553
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Leigh-on-Sea
What, you mean almost a year in, the one that's still living here cos he can't afford to live elsewhere and has managed to get through all his investments and savings and land up with debt of around £50k and still expects me to run him to and from the station?

Sounds like his plan 'A' worked... I presume your plan 'B' will be to let the CSA sort out maintenance payments - or at least use their calculators in the negotiation.
 

Smiffy

SZ Drinking Champion
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Oct 27, 2003
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16,222
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Vanarama National League (Loan)
For god sake do not sell the LTSB shares yet. They are just starting to creep back up and I am expecting them to look much healthier Autumn/Winter time.

I have been keeping a close eye on them as I have a few myself.
 

OldBlueLady

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For god sake do not sell the LTSB shares yet. They are just starting to creep back up and I am expecting them to look much healthier Autumn/Winter time.

I have been keeping a close eye on them as I have a few myself.

Oh Smiffy, don't tell me that! I'm never going to show a profit on them so surely best to cut my losses now!
 

OldBlueLady

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Why are you opposed to the premium bonds though?

Because they do at least give me some return over the year, the ISAs don't. I need cash quickly for my kids and to see me through the divorce and to me it just seems more sensible to get rid of the ISAs, in particular the banking shares.
 

Yorkshire Blue

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Because they do at least give me some return over the year, the ISAs don't. I need cash quickly for my kids and to see me through the divorce and to me it just seems more sensible to get rid of the ISAs, in particular the banking shares.

That doesn't seem right to me.

The premium bonds don't give guaranteed returns and you are reliant on your numbers being drawn out. Whereas if the banks are profitable (which they are more often than not) they'll declare a dividend twice a year.

You'll have to have an awful lot invested in premium bonds to be getting regular returns.

The main difference between premium bonds and shares is that premium bonds offer no chance of capital growth. In contrast shares have the ability to go both up and down, although over a long enough period of time, they tend to go more up than down. This means that premium bonds are the safer option, but when it comes to cash them in inflation will mean they are worth less relative to when you invested in them, whereas shares offer the chance of being worth more.

I think Mad Cyril was right when he said buy low, sell high, lunch is for wimps. If you think Lloyds will start losing money again, sell those shares, but if you think they are over the worst of the banking crisis and another one of that size isn't due for another 60 odd years, sell the premium bonds instead.
 

OldBlueLady

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Matt, I know that probably makes a lot of sense, but I don't see any dividend. Now I'm not sure if that's cos it goes into the "cash" part of the ISA or if the dividends are somehow paid directly into our "joint" account. It's something I suppose I need to look into.....along with the loads of other financial conundrums that are presenting themselves.
 

Yorkshire Blue

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Matt, I know that probably makes a lot of sense, but I don't see any dividend. Now I'm not sure if that's cos it goes into the "cash" part of the ISA or if the dividends are somehow paid directly into our "joint" account. It's something I suppose I need to look into.....along with the loads of other financial conundrums that are presenting themselves.

Don't know how long you've had those shares but they won't have declared a dividend since at least 2008. That was only the first quarter results, so it'll be another 3 months until their half yearly results and they are then likely to pay a dividend about a month after that.

Dividends are usually paid out by cheque but you could of course be part of a dividend reinvestment scheme, whereby all the dividends are reinvested in new shares to increase your shareholding.
 

OldBlueLady

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Don't know how long you've had those shares but they won't have declared a dividend since at least 2008. That was only the first quarter results, so it'll be another 3 months until their half yearly results and they are then likely to pay a dividend about a month after that.

Dividends are usually paid out by cheque but you could of course be part of a dividend reinvestment scheme, whereby all the dividends are reinvested in new shares to increase your shareholding.

Hmmm....so maybe for convenience and speed it would actually be more senesible to cash in some of the p/bonds? And we've had them since they were upwards of £10 a share!
 

DTS

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Hmmm....so maybe for convenience and speed it would actually be more senesible to cash in some of the p/bonds? And we've had them since they were upwards of £10 a share!

Yorkie may spout bollocks when it comes to football but he knows his stuff on finance.

Premium bonds are popular with older people as they offer no capital risk but in reality your money is going backwards unless you get a decent win due to inflation.

The shares are low and less than you paid for them so why sell them now? The premium bonds are also very liquid so easy to cash in where as you might have to wait for the money from the shares.

It all depends on your attitidue to risk but personally can see no point selling the shares at a loss when your premium bonds are in effect going backwards too.
 

DTS

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As a footnote I dont think LTSB shares are paying a dividend out for quite a while yet due to the investment they took from the government.
 

Yorkshire Blue

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As a footnote I dont think LTSB shares are paying a dividend out for quite a while yet due to the investment they took from the government.

Good point, I forgot to mention I couldn't remember what the terms of the bailout were when it came to paying dividends. I wouldn't be surprised if they aren't allowed to declare a dividend, even though not doing so will harm the value of the government's investment as a major shareholder.....
 

DTS

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Good point, I forgot to mention I couldn't remember what the terms of the bailout were when it came to paying dividends. I wouldn't be surprised if they aren't allowed to declare a dividend, even though not doing so will harm the value of the government's investment as a major shareholder.....

I have just increased my holding in LTSB as part of there recent share issue and I am 99% sure it 2012 or something like that before a dividend will be paid.

However that said the real value to be had from shares is in the capital appreciation rather than the dividends.
 
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