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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.

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Brexit update

Global markets have now risen steadily across the board as the volatility spike following Britain’s surprise decision to leave the EU died down and investors realised that, although unexpected, the uncertainty of the terms of Britain’s future relationship with the EU need not undermine equity markets. As for the FTSE 100, it is now 5% above where it closed on 22nd June, though 6% down in terms of dollar value (£ is 12% lower against the dollar) and the FTSE 250 is only 3% below where it was on the same day. The FTSE 250 is a far better barometer of UK economic activity than FTSE 100 and many of the stocks that were hit hardest such as the house builders Persimmon, Taylor Wimpey and Barratt made substantial gains as the new May government started to restore some stability.

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