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I'm a complete novice when it comes to ISAs. I can see that I can get around 1.5% to 2.5% interest in a cash ISA which isn't wonderful, but its better than leaving it in the bank. I glaze over with stocks and shares ISAs, I understand the returns can be higher but so is the risk. I don't understand the process yet though.I'm now looking at property ISAs after hearing an advert on the radio.Can they really produce 8% returns? I understand that the value of the investment may go down as well as up but what other considerations are there?
I've read this article on Zoopla, but it seems to be too good to be true.
I love property but not property shares. You get none of the benefits and all of the shortcomings. Have you considered an innovation isa? Sounds like it might give you what you want? Zopa or Funding Circle?
I've only considered cash ISAs so far, but was looking for alternatives. More research required!
Btw it def pays to diversify!
If your under 40 your eligible for a Government Lifetime ISA 25% up to £1k a year bonus until your 50
'You can put in up to £4,000 each year, until you’re 50. The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.'
I've missed that opportunity, but its certainly worth knowing for the younger generations.
Me too, I'm 42....for anyone in 20's 30's something they should be considering and taking action....
You can invest up to your annual ISA limit of £20,000 in Crowd Property.Although you will be investing in mortgages rather than directly in property at least your money is secured although its is at risk if property prices fall of course. They appear to offer a return of 8% on all their recent investments.Personally I and my wife have invested in stocks and shares ISA's ( previously PEPs) for many years and at todays valuation they are worth well over one million pounds tax free
Another one to research and I really need to break the mental block on stocks and shares.
Any sort of property investment is a very high risk at the moment.
Until this Brexit situation is resolved, I'll be keeping my spare cash under the mattress.
We are living in the most volatile, uncertain period I've ever experienced.
We can only hope to get some clarity in the next couple of months but I'm not holding my breath.
Very wise even bank deposits are vulnerable to a hair cut or negative interest rates