Owning your own home

If I needed to replace a boiler and entire central heating system (3 bed house over 3 storeys) would I have change from £10k?

I’d hope so.

I currently don't have an ISA or a pension but I do have a place to live that's almost all mine.

Your eggs bro - look at the one basket they be in.

Stocks and Shares ISAs are great ways to put your eggs in different baskets easily and cheaply. You don't have to be a guru - Nutmeg will do it for you but charge you a tiny bit for the ease.

If you lost it all - or even a really significant bit of the return - you'd probably have more to worry about like not having a job, empty supermarkets and the riots on the streets.

But yeah I get ya it's way too easy to put that shit off in a rising property market combined with good take home pay.

I have no idea how much things cost, looking at a shitheap that needs everything replacing, currently guessing how much stuff costs so we can haggle on the asking price.
I'm factoring £12k for windows, 10 for a kitchen, 5 for elecs, 5 for boiler (plus more for a new system if it's b0rked), 5 to replaster the entire place (artex on the walls that don't have wood panelling, wtf?!)
I'm overestimating where I can, but still it's all guesswork.

I think we paid £4k for a new boiler plus installation of three new radiators. That was a few years ago though, and the existing pipe work could be reused.

Smart people are taking about Nutmeg, I best look it up.

I'm staying put for at least 2 years so going to go for another 2 year fixed over about 30 years. Repayments will be super low, chump change, but I will put money aside to overpay by the end of the term in one lump some, if I use an ISA I should bar able to get a few extra quid in total.

Sounds sound? Right?

Your eggs bro - look at the one basket they be in.

Not quite. I also have cash. It's just not "doing" anything.

I looked into S&S ISA ages ago but never got anything off the ground other than a bank one. It matured and I never bothered to add more to it or whatever. Was also looking at http://www.fidelity.co.uk fund years ago but was distracted by house buying.

Threw some money at forum software a while back but the bossman fucked it all off on coke and hookers... ;)

ISA allowance is £20k a year, if you max it and make 3% you will have £41,200 in 2 years. With Nutmeg I have constantly been getting 2.7% and above, I have few pots with diff risk levels lowest being 6.

Can limited companies take advantage of pensions somehow? ie. company matching employee contributions to reduce tax?

6 what?

https://www.nutmeg.com/isas/isas-at-nutmeg/

http://forums.moneysavingexpert.com/showthread.php?t=3153942

Risk level, out of 10.

you'd be better off setting up an ISA with https://www.vanguardinvestor.co.uk, and dumping all your money in one of their LifeStrategy funds than paying the premium for nutmeg.

I see.

That's your risk level though which is going to depend on your knowledge of money, your age, your other investments, etc. If you think you're god's gift to investment I might puke at the thought of your risk level 6 :)

Hmmm... 1200, thats kinda pointless isn't it? Could prob make the same by drinking a couple less pints a week and wouldn't have my cash locked away anywhere... (just ran the sums, pretty much bang on).

Bah. Back under the mattress....

Nice one, I never buy anything on credit so I'd not thought about getting them that way but if it's 0% then that could be a good shout. did you get hardwood or MDF? I want hard wood but obviously they're more even more spendy. I went to a mates place that had the MDF ones, they were only a couple of years old and started to look really tatty which really put me off them.

Why? Do they take less fees or do they have a better return?

Which company is 'safer'?

They charge less.

Which company is 'safer'?

This stuff is better discussed in the investment thread I reckon.

whilst also delivery comparable or better returns

Back under the mattress....

The only thing that compounds under the matress is dust and the negative growth thanks to inflation.

But yea, to the investment thread!

I'm assuming peeps are just buying a pot of ETFs, in which case the like for like return is the return minus fees.

Managed stuff..eh I'm not in to that.

I did a spreadsheet a while back on whether overpaying or investing was a better deal. Position then was that investing seemed a better option.

Nutmeg stocks and shares ISA has been returning 5-6% per annum (after fees) whereas my mortgage interest is about 2%.

Obviously the issue here is whether the mortgage rate is going to shoot up. If that is the case then I can dump the ISA into overpayments on my mortgage to negate that and cut the capital.

Aside from the above, I preferred ISA to overpayments as it left the cash more accessible in case of emergency.

Whether or not Nutmeg is the best option, the fees are high but the return is good for minimal effort (all I do is transfer money in each month). There are probably better options out there but I'm lazy and there is obviously a point where the time I spend on it cancels out the extra money.

Nutmeg stocks and shares ISA has been returning 5-6% per annum

whoa .. clearly I am doing something wrong

Am I missing something?

Did you work it out with compounding mortgage interest?
ie. the 2% over 25 years.

As for overpayments, with my mortgage and I presume others, you can access the amount you've overpaid so in an emergency you would be able to get some of it back. Although that's why I have actual cash in the bank, for emergencies..