New answers tagged

2

We did this. It cost us a further £995 product fee, but saved us £3,212 over the first five years of the mortgage. So, worth it 🤷🏻‍♂️ It will depend on your lender. Our broker (mortgage adviser / intermediary) arranged this pretty easily. Brokers can be a lot of help.


4

If you want to help someone else with a difficult money-related situation, the right way to help them is by assisting them in navigating the systems rather than by tangling up your own financial affairs with theirs. For example, you could do some research for them into alternative money transfer systems, or you could offer to be on a conference call with ...


1

There is a very detailed set of guidance for what can and cannot be held, available from HMRC; it's chapter 7, p. 72 onwards. (The sections highlighted in pink are the 2014 revisions, which added certain types of shares) Some exceptions that might be relevant are - not all shares qualify - it has to be traded on a recognised exchange, but it is sometimes ...


4

In the United States, if you do a wire transfer through a bank, then you are supposed to declare if you are doing it for someone else. I assume the rules are the same in the UK. However, this is for bank, not a money transfer service. BB Remessa's user account agreement specifically states that you may not use your BB Remessa account to transfer money on ...


0

This is for the purposes of PAYE, so you select "A". You will still do Self-Assessment each year where you declare your additional freelance income, and pay the resulting Income Tax and National Insurance contributions. The reason they ask you to specify whether this is your main / only job (or pension or benefits) is in order to correctly apply ...


-2

I fear that the original poster does not have the context to understand the "at will" employment situation in the US. It's customary for US employees to give 2 weeks' notice for leaving. It's also customary for US employers to give 2-4 weeks severance pay for termination. The employer may offer more severance in exchange for signing an agreement ...


6

It's unclear from your question as to whether you are asking about terms of service in the US, or asking about terms of service in the UK (using the US as a parallel example) When do you negotiate for this? In either case you negotiate for it when you join the company. Theoretically you could negotiate for it any time the terms of your service up being ...


0

Since no one has answered in more than a year, I will provide an incomplete (and possibly incorrect) answer: CREST charges an "international custody charge". The amount charged varies by the country of the underlying security. As of August 2020, the fees range from 1.50 basis points (i.e. 0.015% of the value of the security) per year for US ...


2

From The International Investor: A CREST Depository Interest (CDI) is a UK security that represents a stock traded on an exchange outside the UK. So it's a financial instrument that's traded in the UK that represents a stock on another exchange. In the US they're called "American Depository Receipts" (ADR). The CDI "tracks" the ...


5

The five-year gilt yield is currently 0.30%, and HSBC is paying 0.20% interest on fixed-term savings accounts (and 0.01% on many of its other savings accounts). Mortgage lending is pretty low-risk, and they can certainly make money on the spread between 1.3% and 0.3% or 0.2%. They don’t have to worry about inflation, because what they lose on the money they ...


2

To understand the answer here, one must first understand how the London Stock Exchange categorizes securities. According to the Guide to the Trading System: From a business perspective an individual instrument is assigned to a grouping known as a trading sector. A collection of trading sectors are grouped together to form a trading segment. A specific ...


2

It appears that they are all part of the GES (Global Equity Segment) Securities, as opposed to the UK and European Securities. What is the GES? With Global Equity Segment, investors are able to trade certain US blue chips and US-listed Asian ADRs during London hours. Benefits of using the Global Equity Segment Trade global equities on the world’s most ...


0

Not really an answer, but too long for a comment - if you look at a site like eoddata.com/stocklist/LSE/0.htm that lists all symbols available on a given exchange, you see a massive list starting with 0 (similar to the number starting with other alphabetic characters). There are also a handful starting with other non-0 digits.


10

Follows the rules for basic rate taxpayer. I have struggled to see this spelt out under normal Government web site. What applies is actually specified in the Taxation of Chargeable Gains Act 1992 (as amended) under Part I section 1I subsection 2 which doesn't distinguish zero income, income within personal allowance and income within basic rate band. See ...


2

Like Showsni, I believe this is likely due to their failing to match your payment with your account. This could be due to: You sending the money to the wrong account (see Showsni's answer for what to do in this case). You failing to include the reference they gave you, if any, or providing an incorrect one. Them not being able to correctly process all ...


0

Someone who may be of help, in at least some US higher education institutions and some companies, are called "ombudsman". Wikipedia provides more info on such an office, whose duty is mainly to help resolve conflicts, at a variety of community or public-state, or private levels.


3

First, I'd double check with the finance department that you have the correct account number and sort code for the university. The money has clearly left your bank account with no issues, but they are claiming they haven't received it - assuming their is no foul play going on, possible explanations would be: You used the wrong account number (either through ...


5

Worth mentioning to them that raising a credit notice when you're not in debt is libel, which is an expensive error in the UK.


62

Find a name To escalate, you don't want a random helpdesk - you want a name. In this case, I'd suggest googling "finance director (this university name)". You can then ring the main university switchboard number and ask to be put through to the finance director by name. Chances are that you won't get them, you'll get their secretary. No matter, ...


9

Sounds like a scam. I don't know if it has a popular name, but it proceeds like this: Someone who pretends to be an entity you do have a legitimate busines with contacts you. They claim that you owe them some (reasonable-looking) amount of money You ask what to do, thinking that a recent money transfer failed for one reason or another They say "send ...


10

Start by asking them how they suggest you pay them in such a way that it doesn't get lost next time. I know you're following their guidelines, but maybe there's more to it. Maybe there's a certain way that works well for them, and you're not following it. Something akin to putting your account number on a check when you mail one to pay a bill. If their ...


9

Unless there's something very out of the ordinary about your specific situation, private medical insurance policies in the UK, whether group policies through a company or personal ones, are just that: insurance. You and/or your employer pays for cover, and if you need something that the policy covers, the insurance company pays for it. There's no refund ...


32

It seems to me that an option not much discussed here is to enlist the aid of someone at your bank. You have the records of the money being disbursed from your account -- it is going somewhere. Your bank ought to know where. It is going to some other account. Between your bank and the university, they ought to be able to confirm that the account the money is ...


16

Assuming that you resolve the most recent payment, how about changing your practices for future payments? The next time a bank transfer is sent, immediately request a receipt from the finance office. "I request that you promptly confirm receipt of the bank transfer [with details]." Repeat the request, daily, by phone and email until you get the ...


12

Let me add to @AakashM's answer the following: Begin a paper trail immediately. The fact that this is a frequently recurring problem gives you tremendous weight of evidence if this ends up in court. I'm going to assume you've got such records, and have already shown them to the finance department. I would also scour those previous communications for any ...


20

I would strongly disrecommend (?) your first bullet "Sit tight in comfort that whoever comes after the "debt" will see all is in order". Broadly speaking, dedicated debt recovery agencies do not care about the details - they care only that they have been handed a debt, to which they have already added their own fees - and they are going ...


2

It may be not that bad. If you have a history of good business with the firm, a tenant that is related to the Agent has rather small potential of things messing up. Maybe, just do everything as usual. The disclosure of the conflict of interest is good. Your agent could as well not tell you that they are working with close relatives and just close the deal. ...


6

As others have said, this is a clear conflict of interest. US rules for real estate agents (for sales rather than renting, but analogous situations could arise there), have two solutions to such a situation. Solution 1: You make the situation explicit and change the relationship with your agent. In the analogous situation for real estate agents, you would ...


12

It is possible that the company they work for won't allow this. Taking money from the property owner to represent them, but then potentially helping the tenant could be against their employment contract. Their boss would not be happy about losing a customer because of this. Yes this is a conflict of interest. Assume the fee they collect is 1/2 of a months ...


4

This is explained in this guidance note from the government. Chapter 3 has the definition of a first time buyer: In order to count as a first time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world. [...] If the property is ...


53

I agree with your instinct, and I think in your shoes I'd make it an "either / or". In other words, say to the letting agent "I am happy to rent the house to your family member, but on the condition that I switch the management of the property to another agent (at another management company) to avoid the conflict of interest that would ...


4

The "For Dummies" series of books has a "Buying and Selling a Home For Dummies" book which I found useful a million years ago when I bought my first house. I assume it has been updated since then :-) Make sure you buy the UK edition as real estate systems vary widely around the world, indeed the systems are even completely different ...


0

There are no laws requiring banks in the UK to refund a customer's money after they get defrauded. Such a law, if it were to exist, would create an incentive for people to collaborate to "defraud" themselves, knowing that they would get reimbursed. In fact, not only is there no law requiring banks to refund account holder money, but the law ...


1

No, if you hold VWRP you will have to sell them for GBP, and VWRA holdings would have to be sold for USD. One curious case though: I used to hold XWSN which was the GBP priced version of XDWT (USD priced MSCI World Information Technology tracker). When Xtrackers decided to close the XWSN units (which no longer exist), they were transmuted into the ...


6

Yes, there are statistics, although perhaps not exactly what you are looking for. It's not possible to produce accurate data that says "Person X bought House Y for Price Z and intended to live in it as their primary house / have it as a secondary home for themselves or their family / rent it out / leave it standing empty" because you don't have to ...


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