Contact

News & Insights

Banks competing for ex-pat money

Skipton International has launched an 18-month fixed-rate bond just a few weeks after Permanent Bank International produced its 18-month deal. The Skipton deal just beats Permanent on the interest rate, plus the minimum deposit required is smaller.  The new Skipton International deal is 1.75pc on a minimum of £10,000.  Permanent International’s 18-month version is 1.69pc on a minimum £20,000.

The interest rate from Skipton International also beats the Permanent Bank International three-year rate and comes close to the Nationwide International three-year deal of 1.85pc.  It makes the current crop of one-year fixed-rate deals look less attractive. You can get 1.45pc from Nationwide International or 1.4pc from Permanent International fixed for one year; the former on a minimum investment of £50,000, the latter on £20,000. Santander also offers monthly income on its fixed-rate bonds.

These rates can easily be beaten, and coming to Blacktower for advice could save you losing a small fortune, as independent advisers we can tailor our recommendation to suit you, we would be looking to gain between 4 and 10% depending on your circumstances.  Monthly income can be received to boost your spending power and your capital can grow at the same time.

Given how confusing this can all be we are urging people to take advice before deciding what to do from a reputable regulated adviser.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

City watchdog to probe pension freedom rip-offs

The Financial Conduct Authority (FCA) has launched the investigation amid concerns that savers are in danger of being ripped off when they cash in their pensions. Insurers are to be probed by the City regulator over fears they are offering poor deals to savers who take advantage of new pension freedoms to dip into their nest eggs.

As you are probably aware from previous articles, new rules were introduced last year to allow savers to cash in their pension pots to spend as they like, rather than turning them into an annuity to pay for an income for life.  Reportedly, fears are growing that many customers are choosing the first pension their insurer offers them and risk missing out on the best deals. Findings suggest that in the final quarter of last year, 53 per cent of savers who chose to dip into their pensions stuck with the same insurer, while 57 per cent of those who signed up for an annuity didn’t move elsewhere.

Read More

News Wrap – APP Scams Guidance

Phone ScamsThe Treasury Select Committee has called on financial services providers to reimburse individuals who have lost money as a result of authorised push payment (APP) fraud, with MPs telling banks that they must implement adequate fraud measures by March 2020 or face sanctions from the regulators.

For example, UK Finance, a trade association for the banking and financial services industry, reports that during the first half of 2019 close to £616 million was stolen from banking customers during financial transactions on payment cards, remote banking and cheque transactions in the UK, with £207.5 million of this defrauded through APP scams.*

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: