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[Field Marshal Dr. Opti]

Does anyone have a Santander 123 account?

Mrs Opti and I have one each.

A letter from Santander dropped through the letterbox this morning informing us  the Interest rate will drop from 3% to just 1.5% in November.

The overdraft charges will also treble. The £5 monthly charge will remain.

Surely they can't keep calling it the 123 account from November.

[biggriffin]

A man of your incredible wealth, wouldn't notice a mear £600 loss, that's like lose change, to the richest man on oof, who lends money to the Rothschild's 

[Kevin Wood]

Bit of a pain, that, but, on the other hand, my mortgage is a lifetime tracker. That said, it might even start to make sense to overpay that with some savings.

It will be bad enough that we'll have to start investing in Omegas soon.

[Field Marshal Dr. Opti]

The rates at the Wellesley had dropped from 3.75% to 3.00%. Now a further drop to a 'piss poor' 2.25% ( with risk involved)

[Field Marshal Dr. Opti]

A man of your incredible wealth, wouldn't notice a mear £600 loss, that's like lose change, to the richest man on oof, who lends money to the Rothschild's 

BG.....I believe you are confusing me with Mr Tunnie. Does he still own that 'shag pad' in Kensington and Chelsea?

[TheBoy]

I think its been mentioned on here before.  But "we" voted to leave the EU, after being told that it would severely impact our financial stability, so we can only blame "ourselves".

[Doctor Gollum]

I think its been mentioned on here before.  But "we" voted to leave the EU, after being told that it would severely impact our financial stability, so we can only blame "ourselves".

Santander, being a Spanish bank are probably entitled to get a bit 'nervous'...

[Mr Skrunts]

I think its been mentioned on here before.  But "we" voted to leave the EU, after being told that it would severely impact our financial stability, so we can only blame "ourselves".

It was . . . http://www.omegaowners.com/forum/index.php?topic=137105.0

[Field Marshal Dr. Opti]

I think its been mentioned on here before.  But "we" voted to leave the EU, after being told that it would severely impact our financial stability, so we can only blame "ourselves".

It was . . . http://www.omegaowners.com/forum/index.php?topic=137105.0

I missed that.

I'm like the fat boy at the back of the class who doesn't pay attention.

[biggriffin]

Bit of a pain, that, but, on the other hand, my mortgage is a lifetime tracker. That said, it might even start to make sense to overpay that with some savings.

Now I'm no financial expert, but you should pay off you mortgage, with savings, then your mortage payments, become your savings account.

Think that's how it's meant to work

[STEMO]

Bit of a pain, that, but, on the other hand, my mortgage is a lifetime tracker. That said, it might even start to make sense to overpay that with some savings.

Now I'm no financial expert, but you should pay off you mortgage, with savings, then your mortage payments, become your savings account.

Think that's how it's meant to work

Not if the interest you receive on your savings is higher than the interest you pay on your mortgage. But I doubt that will happen in the next 50 years.

[Varche]

German banks are paying negative interest on current accounts.

i.e. you pay to have your money in them. Business Opening there Lord Opti.

Nowt to do with Brexit.

Now we had a power cut today. I balmed that on Brexit.

[Migv6 le Frog Fan]

UK economy is exceeding anyones expectations, so far, post Brexit.

[Doctor Gollum]

Could be worse, you could have two £540 car tax bills

[Mr Skrunts]

http://www.lloydsbank.com/current-accounts/club-lloyds.asp#tab-row-2

How's 4% sound on £4K+ balance . . . pay £1500 a month in and no account charges, few rules and limits though.

No interest paid over £5K balance 
There's a monthly charge of £5 if you dont pay the monthly £1500 in 
Needs 2 direct debits active per month.

[Mr Skrunts]

http://www.tescobank.com/current-accounts/

3% upto £3K no charges

[Sir Tigger KC]

With interest rates at record lows it would make sense for Lord Opti at his age to invest his £40,000 in an appreciating asset that he could have some fun with at the same time. 

Something like this perhaps? 

Or maybe I've misread M'lud's OP and Lord and Lady Opti have £40,000 each to invest, so in which case they could pool resources and go for this?    The real thing, and looks a beauty to me! 

On the other hand could we deal with Lord Opti's detailing angst?     

[Doctor Gollum]

With interest rates at record lows it would make sense for Lord Opti at his age to invest his £40,000 in an appreciating asset that he could have some fun with at the same time. 

Something like this perhaps? 

Or maybe I've misread M'lud's OP and Lord and Lady Opti have £40,000 each to invest, so in which case they could pool resources and go for this?    The real thing, and looks a beauty to me! 

On the other hand could we deal with Lord Opti's detailing angst?     

We have a Jaguar specialist in the village... they've a selection of E types, the cheapest being well north of three year old XF

[Sir Tigger KC]

With interest rates at record lows it would make sense for Lord Opti at his age to invest his £40,000 in an appreciating asset that he could have some fun with at the same time. 

Something like this perhaps? 

Or maybe I've misread M'lud's OP and Lord and Lady Opti have £40,000 each to invest, so in which case they could pool resources and go for this?    The real thing, and looks a beauty to me! 

On the other hand could we deal with Lord Opti's detailing angst?     

We have a Jaguar specialist in the village... they've a selection of E types, the cheapest being well north of three year old XF

A quick scan of Car & Classic showed that most well looked after and restored E-Types are advertised at 6 figure prices! So if you've space to store such a beast then I'd think it could be a good long term investment! 

[TheBoy]

UK economy is exceeding anyones expectations, so far, post Brexit.

Do you have a time machine? We haven't exited yet.

[Nick W]

We have a Jaguar specialist in the village... they've a selection of E types, the cheapest being well north of three year old XF

A quick scan of Car & Classic showed that most well looked after and restored E-Types are advertised at 6 figure prices! So if you've space to store such a beast then I'd think it could be a good long term investment!

They've actually gone down since the fiftieth anniversary a couple of years ago. They're probably not going to appreciate much anymore, but I suspect you'll have to try hard to lose money on one. That's if you can stand to look at or drive the bloody thing.

[Sir Tigger KC]

Please remember that the value of investments including property and the income derived from them can go down as well as up. Past performance is not a reliable indicator of future returns and you may not get back your original investment. 

[2boxerdogs]

Have given up saving a few grand stuffed away in case of any disaster, but wife & me spend our income on enjoyment now both 63 years of age no debts , and as people keep saying "you're a long time dead" so now don't give a stuff about interest rates 😉

[Migv6 le Frog Fan]

UK economy is exceeding anyones expectations, so far, post Brexit.

Do you have a time machine? We haven't exited yet.

Before the vote we were told that the uncertainty caused by a vote to leave would bring immediate financial armegeddon, which would require an emergency budget to almost abolish public services as there would be no money to pay for them.
Now its "the trouble will really start once we actually leave".
Don't worry, the UK will do just fine. 

[Doctor Gollum]

UK economy is exceeding anyones expectations, so far, post Brexit.

Do you have a time machine? We haven't exited yet.

Before the vote we were told that the uncertainty caused by a vote to leave would bring immediate financial armegeddon, which would require an emergency budget to almost abolish public services as there would be no money to pay for them.
Now its "the trouble will really start once we actually leave".
[]highlightDon't worry, the UK will do just fine.[/highlight] 

Fortunately enough people were intuitive enough to see past the scaremongering bullshit

[Migv6 le Frog Fan]

Exactly.
I read an article yesterday by a Nobel prize winning economist who is convinced the EU is doomed. It cant work, wont work, and only a matter of time before the whole train comes off the rails.
He was no right wing knee jerk reactionary with an agenda. He is left leaning, and was Bill Clintons financial adviser when he was in the Whitehouse. He understands though, that there is no way around economic reality. Politicians cant reinvent that reality. Even when they invent their own currency in a political effort to do so.

[STEMO]

Exactly.
I read an article yesterday by a Nobel prize winning economist who is convinced the EU is doomed. It cant work, wont work, and only a matter of time before the whole train comes off the rails.
He was no right wing knee jerk reactionary with an agenda. He is left leaning, and was Bill Clintons financial adviser when he was in the Whitehouse. He understands though, that there is no way around economic reality. Politicians cant reinvent that reality. Even when they invent their own currency in a political effort to do so.

Joseph Stiglitz?

[TheBoy]

UK economy is exceeding anyones expectations, so far, post Brexit.

Do you have a time machine? We haven't exited yet.

Before the vote we were told that the uncertainty caused by a vote to leave would bring immediate financial armegeddon, which would require an emergency budget to almost abolish public services as there would be no money to pay for them.
Now its "the trouble will really start once we actually leave".
Don't worry, the UK will do just fine. 

Take the extremists out - as they have an agenda one way or the other - and what was mostly said is coming more like reality.

The pro-Farage fanatics are plucking at occasional straws in the hope that some (financial) good can come of it.

As it is, we're in for a long term dip. We all know it. Growth forecasts are all down, and look like they won't improve in the mid term. Those at the coalface are suggesting some of their industries are now in recession, even if a technical recession is borderline in the short term.

I fear for those:
Who want to retire in the next 10-15yrs, who don't have a DB pension. They're oppsed.
Who have paid off their mortgage and are now saving for a little nest egg. They're oppsed.
Those already retired, but not with a set annuity, as they're now oppsed.
Those trying to make a small bit of profit from their rainy day money, as they're now oppsed.
Those reliant on EU subsidies, they're now oppsed - any promises from prospective UK governments (not in power!) forget we still can't balance the books enough, and we've long run out of rich people to cover this deficit.

And the impact on immigration - which we're told would stop under brexit - is non existent, both legal and illegal.

[Field Marshal Dr. Opti]

I'm guessing TB voted to remain.

[Sir Tigger KC]

I'm guessing TB voted to remain.

TB's half empty glass approach to life never fails to cheer me up on a grey Sunday morning! 

[Field Marshal Dr. Opti]

I'd hoped that one way or another the result would be definitive.

51% to 49% was the worst case scenario.

[Sir Tigger KC]

I'd hoped that one way or another the result would be definitive.

51% to 49% was the worst case scenario.

51.9% to 48.1% was the result, but yes I agree.

[Rods2]

Does anyone have a Santander 123 account?

Mrs Opti and I have one each.

A letter from Santander dropped through the letterbox this morning informing us  the Interest rate will drop from 3% to just 1.5% in November.

The overdraft charges will also treble. The £5 monthly charge will remain.

Surely they can't keep calling it the 123 account from November.

Braver man than me, I would personally give them a miss, after looking at all the Spanish Bank's property loan books. I'm sure at some century in the future they will be worth the book loan security value. Never forget, the return of the money always takes priority on the the return on the money. Forget Greece, the new EU / ECB bailout bailin model is Cyprus.

Without impossible major political reforms, loss of sovereignty by all Euro countries, including money transfers from Germany to poorer regions, sovereign debt pooling and possibly some form of sovereign debt insurance (backing ECB's whatever it takes), Steins law will prevail. In Germany moving the population of Libya, Syria, Iran, Iraq and Yemen, lock, stock and barrel, would be more popular politically than monetary transfers and sovereign debt pooling.

If you want me two post up a couple of useful links, including a recent podcast at an LSE event by a Nobel prize winning, Prof in Economics, then I can do so?