Premium Bonds

[Stu]

The way my wife spends money it would be a fair few trees for all the paper.

To be fair, if you were saving say £30k (10% of the average house), you'd probably be keeping it in a savings account.

They usually only want to see a year of your current account.

 

[UKSkydiver]

I'm a bit late to this, but here are the views of a nice fella called James (ignore the click bait-y title, he's actually a very engaging chap)



And another nice chap called Martin:

https://www.moneysavingexpert.com/savings/premium-bonds/

 

[Benfleet Brewery]

As interest rates on savings accounts are coming down now I think it’s worth having a few quids worth of PBs. I have £3k in there and pick up the odd £50 or £100. You never know, you might strike it lucky one day and unlike buying lottery tickets, with PBs if you don’t win anything you get your money back

 

[matt.]

I'm a bit late to this, but here are the views of a nice fella called James (ignore the click bait-y title, he's actually a very engaging chap)



And another nice chap called Martin:

https://www.moneysavingexpert.com/savings/premium-bonds/

Thanks. Martin explains the maths in an easy way for me to understand.

 

[Davegase]

I'm a bit late to this, but here are the views of a nice fella called James (ignore the click bait-y title, he's actually a very engaging chap)



And another nice chap called Martin:

https://www.moneysavingexpert.com/savings/premium-bonds/

That has reinforced my commitment to keeping my maximum allowance of premium bonds.

 

[MashBag]

Someone did suggest that.

Apparently, the original investment in crypto was from an inheritance. With savings, you usually have to prove it - up to 6 years of receipts.

Yup. Solicitors have to satisfy money laundering laws. But it depends how diligent they choose to be.

If you don't need a mortgage, you don't need a solicitor.

 

[Stu]

Yup. Solicitors have to satisfy money laundering laws. But it depends how diligent they choose to be.

If you don't need a mortgage, you don't need a solicitor.

Actually, most do. It's not impossible to buy a house without, but the law now says you need to prove where the money comes from. And it's difficult without a solicitor. Some solicitors won't allow a sale without another one at the other end, because of money-laundering law.

 

[MashBag]

I have self conveyanced a few times. Even during covid (aaaargg) and money laundering but was never an issue.

Broadly there are three bits :

Selling bit - hard details part of self conveyancing.

Buying bit - easyiest apart from dealing with the arrogance of another parties solicitor.

Impossible bit. Self conveyancing is not possible if there is a charge involved (mortgage). Few people realise your lender instructs your solicitor to act for them. No solicitor no mortgage.

Money laundering laws are a combination of a few acts (proceeds from crime and some financal acts). Solicitors interpret they how they use them and ime they range from "propper pain in the ar3e" to "if you say so".

A mortgage with "Free sols" are normally the absolute worse, pretty much cos they're is very little solicitor involvement. No really.