Everything Else

This includes everything  else I discuss on Pounds and Sense, including Health, Holidays, Relationships, and so on.

October Update

My Coronavirus Crisis Experience: October Update

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Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since the original lockdown started (you can read my September update here if you like).

As previously I will discuss what has been happening with my finances and my life generally over the last few weeks, while trying to avoid being too repetitive!

As always, I will start with the money side of things.

Financial

As I’ve done before, I’ll begin with my Nutmeg stocks and shares ISA. This has gone up and down over the last few weeks, but currently stands at £16,578. That is over £500 up on last month, so I’m happy with that! Here is a screen capture covering the last three months…

Nutmeg account October

You can read my in-depth Nutmeg review here if you like.

My Property Partner and Kuflink investments are still both ticking along satisfactorily. Property Partner has resumed paying dividends on some properties, which is appreciated. The five-year sales process has also resumed. There is a backlog, though, so it will probably be longer than five years till the properties I hold shares in can be sold at the current, independently-assessed market price (or retained, of course).

There is nothing really to report about The House Crowd. I assume that the sales of the two properties in which I hold £1,000 shares are progressing, but can understand that it is a slow process at present. At least rental payments are still accruing, which should help to defray some of the selling costs.

There has been no further word either regarding my investments with Crowdlords. As I said last month, I have two remaining investments with them, Kennington Road eco-houses and Trent House. I was told they hope to have exit options for these properties by the end of the year, but I’m not holding my breath. On the plus side, they are paying 6 percent interest on my Trent House investment, which is quite generous in these days of ultra-low interest rates.

Personal

It’s been an eventful few weeks one way and the other.

As mentioned previously, I had booked a short break in Llandudno (see cover image) near the end of September. Thankfully I was able to go. If I had left it just a few days later I would have had to cancel, as the Welsh Assembly has decided to lock down the whole of the Llandudno and Conwy area due to rising infection rates. That means no-one can currently go in or out of the area without a compelling reason (and having a holiday booked there doesn’t count).

Anyway, I enjoyed my visit. I stayed in a self-catering apartment, which turned out to be a good choice in most respects. It was on two floors, with a lounge and well-equipped kitchen on the lower floor and a double bedroom and bathroom on the upper. The location was central but quiet, yet just five months’ walk from the sea. The only drawback was that parking was on the street and finding a spot was a bit of a lottery. I was lucky to get somewhere close when I arrived, but later in the holiday had to park on another road half a mile away, which was a bit of a pain. I paid £255 for my three-night stay via Booking.com, which I thought was reasonable. By comparison, the seafront hotels I checked out were charging over £600 for three nights’ bed and breakfast.

Not surprisingly Llandudno was quieter than usual for the time of year, but there were still plenty of visitors, and many of the small hotels and boarding houses had ‘No Vacancies’ signs in their windows. While some places and amenities were closed, many others were open, and I was pleased to find that the pier was fully operational (see photo below). Professor Codman’s famous Punch and Judy show on the promenade wasn’t running, though – a shame, as there were lots of young children who might have enjoyed it.

Llandudno

On my first day I left my car at the apartment and took a couple of bus tours. The first was the open-top bus that takes a circular route between Llandudno and Conwy and includes a running commentary. I have done this trip before and noticed that the recorded commentary hasn’t changed this year. Mind you, that may be just as well, as a post-Covid commentary would have had to include details about all the hotels and other places that have closed due to the virus, the seafront theatre that became a Covid field hospital, and so forth…

The other trip was on a vintage bus (see photo) around the Great Orme, one of the two promontories at either end of Llandudno’s seafront. This had a knowledgeable driver/guide, who provided an interesting – and up-to date – commentary. I must admit I particularly enjoyed seeing ‘Millionaire’s Row’ at the far side of the Orme. There are some amazing houses here, owned by people who like to preserve their privacy. Obviously the coach passes from a distance, but it was still a good opportunity to gawp at how the super-rich live. I particularly enjoyed hearing about the house that has its own private lift down to the beach!

On the second day of my visit I drove to the medieval walled town of Conwy, which is about three miles away. I booked a ticket online to see Plas Mawr, a restored Elizabethan town house (photo below). It was fascinating, and I was glad I took the option of borrowing one of the free electronic guides. You use these to scan a QR code in each room and it provides a commentary on the room itself and various interesting historical tidbits associated with it.

Plas mawr

As with my visit to Dunster Castle near Minehead earlier in September, all the usual anti-virus measures were in place. I had to wear a face covering throughout, and staff ensured that there were no more than two households in a room at any one time. It worked pretty smoothly, although you had to follow a set route and there was no possibility of returning to a room once you had left it.

  • In case you’re wondering, the photo in my cover image shows the Haulfre Gardens Tearoom on the lower slopes of the Great Orme. It’s one of my favourite places in Llandudno, and I was pleased to find it was still open. I enjoyed afternoon tea in their lovely garden on both days of my visit. As you can see, I was pretty lucky with the weather!

As mentioned above, I was very glad to be able to make my trip before the current lockdown would have made it impossible. I feel very sorry for people who booked after me and were unable to go, especially as I have heard that some are now having problems getting their money back. But I am sorry also for the hotels and other businesses who have been left high and dry by the lockdown. I really hope for their sake it doesn’t go on too long 🙁

Moving on, I had an experience I would rather not have had in the last few weeks too. At a routine eye examination my optician saw something she didn’t like the look of in the retina of my left eye. So she packed me off to the eye clinic at Queens Hospital, Burton. The doctor there told me I had a perforation of the retina, and gave me laser treatment then and there. It wasn’t painful but it was obviously nerve-racking. The doctor did say it was a good thing my optician had spotted the problem, as it could have led to a detached retina if left untreated, which is clearly more serious. I have to go for a follow-up check this weekend, but touch wood the problem has been repaired. I guess if nothing else this does show why it’s so important to have your eyes checked regularly even if you don’t think there is anything wrong with them. That applies doubly to older people and those who (Iike me) are very short-sighted, as we are especially susceptible to this sort of thing.

On the Covid front, clearly most of the news hasn’t been good recently. Mind you, in most parts of the UK hospital admissions and deaths remain a lot lower than at the peak of the pandemic in the spring. I have seen the current situation described as a ‘casedemic’, which seems a pretty apt description. Clearly it’s important to protect the elderly and vulnerable at this time. Young people don’t typically suffer severe reactions to the virus, however, so I do wonder if some of the more extreme measures aimed at them are fair or necessary. Personally I am taking what I consider reasonable precautions but still trying to live my life as normally as possible. I volunteered for the UCL Virus Watch panel a few weeks ago and fill in a weekly questionnaire saying whether I have any possible Covid symptoms (none so far). They have also just asked me to take a blood test to see if I have any antibodies or other natural resistance to the virus. I’ll be interested to see the results of that!

As regards masks and such matters, I have been wearing a half-face shield in supermarkets (as a mask sceptic I’m not going to other shops till masks are voluntary again, though I might make an exception if the shop clearly states that they welcome non-mask-wearers). I find this better than the full face shield I was wearing before, as it doesn’t interfere with my vision. Shields are also much easier to breathe through than cloth masks, and I haven’t yet been challenged by any staff members or self-appointed mask police. In case you are interested, here’s an Amazon ad (affiliate) for some half-face shields similar to the type I am now using.

Well, I guess that’s enough for now. I do hope you and your loved ones are staying safe and well. As always, if you have any comments or questions about this post, please do leave them below.

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My short break in Minehead

My Short Break in Minehead

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I recently enjoyed a three-night break in the North Somerset coastal town of Minehead.

It was actually my first visit to Minehead. Early this year, before the pandemic struck, I booked breaks in a few places I hadn’t been to before. Minehead was the only one I didn’t have to cancel 🙁

After some online research, I had booked a room at the Channel House Hotel. This is on Minehead’s North Hill (see cover photo), on the opposite side of the bay from the Butlins holiday camp. Here’s a map by courtesy of Google.

The Channel House Hotel had excellent reviews and a great location near the harbour. It had its own car park as well, which is always a plus with seaside hotels!

Here’s some more information about my stay…

The Hotel

The Channel House Hotel is a small country-house hotel with eight bedrooms. They don’t accommodate dogs or children under the age of 15.

I had Room 7, on the top floor. I had been hoping for a sea view, but due to a line of trees I couldn’t really see it from my room. I could at least hear the waves, though! The hotel is in a quiet, peaceful location, and I slept very well on all three nights.

As you would expect in these strange times, various anti-virus precautions were in place. I had my temperature checked on arrival, and hand sanitizer was available by the front door and on all the tables in the dining room.

I opted for breakfast and an evening meal, although you can book bed and breakfast only. Other dining options near the hotel appear limited, though, especially in these times of Covid.

There was a good choice of breakfast options for a small hotel. As well as the full English (which you can customize as you wish) you could also have Eggs Benedict in three different variations or smoked haddock with poached egg. You could also have a plate of mixed fruit, cereal and/or yogurt, plus the usual toast and hot drinks. I’m not sure what the normal arrangements for breakfast are, but obviously at present they can’t have a self-service buffet, so most meal options are brought to your table.

There is a choice of starters and main meals in the evenings, with guests asked to say what they would like after breakfast. Fair enough in my view, as there is obviously no point in the hotel preparing meals nobody wants! That applies especially at the moment with visitor numbers so low – partly due to the virus and partly (I understand) as a deliberate policy to help preserve social distancing. During my stay, there were never any more than six guests including me.

Evening meals are served at 7.00 pm, with pre-meal drinks in the small bar from 6.30. Although the latter is obviously optional, I did find this an enjoyable way of meeting and getting to know my fellow guests. There was one couple and all the others were solo ladies around my age or older. We all got along well. I enjoyed hearing what they had been doing during the day, as most of them knew the area better than I did.

The evening meals were very good. They comprised five courses: starter, main, dessert, cheese and biscuits, and coffee. That may sound a lot, but the portions were sensibly sized, so I didn’t feel too guilty!

Fish seems to be a speciality and I particularly enjoyed the sole I had on the first night. One thing that surprised me, though, was that the menu never included any vegetarian main courses. They do cater for veggies and those with special diets, so I’m sure if I’d asked I could have had something. For three nights I was perfectly happy with what was on offer. But as I eat vegetarian quite often at home, it might have been nice to have that option on the menu as well, some nights at any rate!

My twin-bedded room was more than adequate for my needs. It had a small (by modern standards) wall-mounted TV, but that was fine for a short visit. The WiFi worked well once I sorted out a bit of confusion over the password, and I was able to use it in my room as well as the communal areas. The bathroom was a good size and had a bath with a modern electric shower over it. My bed was comfortable and there was plenty of storage space. I was well looked after and had an enjoyable and relaxing stay.

Financials

As Pounds and Sense is primarily a money blog, I should say a word about this.

I paid £360 for my three-night stay (including breakfasts and evening meals) at the Channel House Hotel, which I thought very reasonable. If I had chosen bed and breakfast only, the price would have been £285. As you may gather from this, the hotel charge a fixed price of £25 for their five-course evening meals.

You can check current prices and availability on the Hotels.com website. You can book this way (which I did) or directly with the hotel. The latter method may or may not work out cheaper.

Things to See and Do

Inevitably at the time of my visit a lot of places and attractions were either closed or not operating normally.

I was particularly disappointed that the West Somerset Railway – said to be the longest heritage railway in England – was not running. At the time of writing there is still no indication when it will reopen.

I was though able to visit Dunster Castle, which is owned by the National Trust. As a Trust member I was able to get free admission, but had to book a ticket in advance on the website. They are doing this to ensure that visitor numbers are controlled, to help maintain social distancing.

Dunster Castle

Dunster Castle goes back to at least Norman times, with an impressive medieval gatehouse and ruined tower providing a reminder of its long and sometimes turbulent history. The castle became a lavish country home during the 19th century for the Luttrell family, and the furnishings and decor are largely from that time. The castle is surrounded by a terraced garden displaying varieties of Mediterranean and subtropical plants. Below this is a riverside woodland garden leading to a historic working watermill (unfortunately closed at present).

Due to anti-virus measures, visitors have to follow a long and winding route through the gardens to get to the castle, so my top tip is to allow longer than you would expect to arrive at your allotted time. Bear in mind also that you will be expected to follow a similarly circuitous route afterwards to get back to the car park. This means there is a lot of walking before and after you see the castle itself. I was okay with that, but I suspect some older visitors might struggle.

Anyway I duly arrived at the castle entrance and, after giving a phone number for track-and-trace and using a hand sanitizer, was allowed to enter (wearing a face covering, of course). Only certain parts of the castle were open to visitors, not including the kitchens for some reason. On the plus side, though, with so few visitors there was plenty of room to see everything on view. Although entry is by timed ticket, once in you are allowed to stay for as long as you want (or at least for as long as you can stand wearing a face covering).

I spent around an hour in the castle, after which I was ready for some refreshments. I am not sure if the castle has a coffee shop normally but if so it was closed. They did though have a pop-up cafe in the gardens (you can just see this to the left of my photo above). I had a hot chocolate and a slice of coffee-and-walnut cake here, which I very much enjoyed even though it wasn’t exactly a healthy option!

Dunster Castle was the only formal visitor attraction I visited during my stay, and I do recommend it, so long as walking isn’t a problem for you.

In fact, I did a lot of walking throughout my break. That included along the seafront, from the harbour to the Butlins camp, and also up North Hill, which takes you to the edge of Exmoor. On the walk up North Hill, I stopped to admire the 16th century St Michael’s Church (also sadly closed).

St Michaels Church

Near the church is an area called Church Steps, where there are some beautiful thatched cottages.

Thatched cottages

I would like to show you the view across the bay from the top of North Hill, which I am told is quite spectacular. When I got to the viewing area, however, a closed and padlocked gate barred my way, with a forbidding warning notice about Covid-19. Having made the not-inconsiderable effort to walk up the hill (most people drive), this was pretty disappointing. I sat at the roadside for a few minutes collecting my thoughts before heading down again. That was probably the low point of the holiday!

On my last day in Minehead I took a short stroll to Blenheim Gardens, a well-tended and attractive public park. The cafe was closed as well, but I wandered down to the harbour and enjoyed a takeaway cream tea there 🙂

Closing Thoughts

Overall, I enjoyed my visit to Minehead, though obviously the fact that so many places were closed did spoil it a little. I had an enjoyable, relaxing time, with plenty of healthy fresh air and exercise (just as well in view of the cakes and five-course dinners!). I will hope to go back again when things are more normal.

As always, if you have any comments or questions about this post, please do leave them below.


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My September Update

My Coronavirus Crisis Experience: September Update

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Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since lockdown started (you can read my August update here if you like).

As previously I will discuss what has been happening with my finances and my life generally over the last few weeks. I will try to avoid being too repetitive, as I have obviously published a few of these updates now and not everything changes that much from one update to the next!

As always, I will start with the money side of things.

Financial

As usual, I’ll start with my Nutmeg stocks and shares ISA. This has gone up and down over the last few weeks, but is currently at £16,041. At one point it was as high as £16,270, but it’s still over £400 up on last month, so I’m not complaining. Here is a screen capture covering the last three months…

You can read my in-depth Nutmeg review here if you like.

My two Buy2LetCars investments are still delivering the promised monthly returns without any hassle. I was pleased that Buy2LetCars also chose to feature me and my blog posts about the company in their email newsletter last month. That brought me a few more readers, so a special welcome if you are one of them! Again, if you’d like to learn more, you can read my review of Buy2LetCars here and my more recent article about the company here.

There is nothing particular to report about my Property Partner or Kuflink investments, both of which are ticking along satisfactorily. As regards The House Crowd, another of their properties in which I hold a share has just been sold, so that is around £2,000 in capital I am expecting back in the next month or two. Unfortunately I am not expecting to make any profit on these two investments, though I have of course received rental payouts – or dividends if you prefer – from these properties over the time I’ve held shares in them.

As regards Crowdlords – which I discussed last month – I wrote asking about two investments I still have with them, Kennington Road eco-houses and Trent House. I had received no information from Crowdlords about either of these projects since before lockdown in March, which I found disappointing.

I received a prompt and courteous reply from Crowdlords co-founder, Richard Bush. He told me that the properties in question were proving difficult to exit from and the situation had been complicated by the change in their FCA status. He added: ‘Prior to the FCA announcement we were about to launch new investments for both of these properties, giving those that wish to leave an exit option and others who like income-based investments to take over, alongside mortgages. This is still our plan, though at the same time we will also try and sell both properties…Once we’re back up and running with Equity and Mezzanine investments we will turn our attention to the BTL’s (including Kennington Road) and still hope to have an exit option available by the end of the year. In the meantime Trent House will continue to earn 6% p.a interest.’

So I guess that is somewhat reassuring, but I’m still not holding my breath about seeing any return from either of these projects any time soon. It’s a shame because I’ve always liked Crowdlords and had good returns from my other investments with them. But obviously these are unprecedented times and property markets generally have been struggling. I will wait to see what new offering the company comes up with, but it will have to be very enticing indeed to persuade me to invest with them again.

As mentioned last time, I applied for the second (and final) round of SEISS (Self Employed Income Support Scheme) payments in mid-August and duly received payment a few days latter. I haven’t seen any complaints or problems about the administration of the SEISS programme and think HMRC deserve a lot of credit for how smoothly it has run. I do know there were issues over eligibility, however, so my commiserations go to any self-employed people who – for no fault of their own – failed to qualify.

In any event, if you are self-employed and eligible for a SEISS payment, applications are open now, so don’t delay!

Personal

In the last few weeks I have done a few things for the first time since lockdown in March. For one, I took advantage of the government’s Eat Out to Help Out scheme to enjoy a couple of pub lunches (okay, one was more of a pub brunch). It was great to be doing something more normal again and catch up with old friends I hadn’t seen since the start of the year. And paying half-price was a nice bonus!

It was obviously a different experience from the usual. When my friend and I arrived for our pub lunch, we were met by a man at the door who checked our booking and showed us to our table (no chance to pick our own as we would normally). One thing I noticed was that no staff were wearing masks and only a few customers. As a mask sceptic this didn’t bother me, but again I was struck by the incongruity of a situation where you can be in a pub surrounded by other diners for a couple of hours with almost nobody masked, then go to a supermarket and be forced to put one on while there (unless you’re exempt, of course).

In any event, I really enjoyed my pub lunch and catching up with my friend. We couldn’t pay cash as we would normally – nobody wants cash nowadays in case it’s contaminated – so my friend paid on his card and I later forwarded my half to him via PayPal. That was a first!

I also went to Birmingham to meet another old friend for brunch at one of the Wetherspoons pubs there. It felt odd to be on the streets in Brum and see so many people wearing masks in the open. Nobody does this in the small town where I live, but I guess it’s a bit different in big cities. Anyway, my friend arrived before me and was directed to a table at the back of the pub. I then had to wander around the tables looking for him behind various protective screens, feeling like a voyeur or a spy. But thankfully I found him eventually!

The instructions on the table told us to order via the Wetherspoons app. That task fell to me, as my friend doesn’t have a smartphone. I managed to do it after signing in to the pub’s free WiFi. I saw several people struggling with this, though. They either ended up hailing a passing waitress or gave up and ordered at the bar.

Anyway, the app worked well for me, and I was impressed by the speed with which cutlery was brought to our table, shortly followed by our meals (two all-day breakfasts). We both also ordered coffee with limitless refills. I was pleased to discover that this was still on offer, though you are now supposed to ask a staff member for a new mug before going to the coffee machine again. I did this, but I don’t think anyone else did.

I have just returned form a short break in Minehead on the Somerset coast (my cover image shows the harbour with the Butlins camp in the background!). I won’t say too much about this here as I plan to do a separate post about it soon. But I will say it was an enjoyable and relaxing break, only slightly marred by the fact that many of the attractions were closed due to Covid. I did manage to visit the nearby Dunster Castle (pictured below), which is owned by the National Trust. Sadly only some areas were open to the public, with various restrictions due to the virus. But on the plus side, because visitor numbers were being limited, I had plenty of space to appreciate what was actually on view!

Dunster Castle

Going back to masks and such matters, I have been wearing a full face shield in supermarkets (I’m not going to other shops till masks are voluntary again, though I might make an exception if the shop clearly states that they welcome non-mask-wearers). I find this a good compromise as it is much easier to breathe through than a cloth mask, and I haven’t yet been challenged by any staff members or self-appointed mask police. I also recently obtained a half-face shield which covers you from the nose downward. That makes it more portable, and also means your vision isn’t impaired (shields are made of clear plastic, but with my eyesight I struggle a bit reading lists of ingredients through them). In case you are interested, here’s an Amazon ad (affiliate) for some half-face shields similar to the type I bought.

I am looking forward to another late summer break in a couple of weeks’ time. I shall be going to Llandudno in North Wales, one of my favourite UK holiday destinations. I shall be staying in a self-catering apartment and am looking forward to shopping for food without having to put a mask on (Wales so far having sensibly resisted the pressure to make masks mandatory in shops). More about that next time!

And that’s it really. Recent reports are indicating an uptick in the virus among young people especially, and of course the doom-mongers are out in force again. Nonetheless, I think there are still plenty of reasons to stay positive. Hospital admissions and deaths are thankfully still at very low levels. And in my personal opinion we are very unlikely to see a ‘second wave’ anywhere near as bad as the first. Of course, it’s important to continue taking sensible precautions such as hand-washing and using sanitizing gel, along with social distancing (if you can keep up with the ever-changing rules). Personally I think that any marginal benefits from wearing masks are more than offset by the way people misuse them in practice. But I’d better not go on any more about that!

I hope you and your loved ones are staying safe and sane during this crazy time. As ever, if you have any comments or questions about this post, please do leave them below.

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August update

My Coronavirus Crisis Experience: August Update

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Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since lockdown started (you can read my July update here if you like).

I said I hoped that update might be my final one, but in light of events over the last few weeks that may have been a bit optimistic. So I have decided to continue publishing monthly updates for a while longer.

As previously I will discuss what has been happening with my finances and my life generally over the last few weeks. As always, I will start with the money side of things.

Financial

Again, things haven’t changed dramatically since my update last month. Here’s the latest chart showing how my Nutmeg stocks and shares ISA is faring…

Nutmeg August 2020

Through July there have been ups and downs, but as of today my Nutmeg ISA is £400 up compared with my last update in early July. This represents a good overall recovery after it lost over a third of its value early in the pandemic (admittedly I helped things along by investing another £1,000 when the markets were near their lowest point). Even allowing for this extra £1,000, my portfolio is now a little above where it was before the crisis started.

I remain cautiously optimistic that the recovery will continue over the longer term. Obviously, if there is a big ‘second wave’ of the virus all bets are off, but personally I think this is unlikely. And even if it does happen, the NHS is much better placed to cope. So I plan to stay in the markets and continue to invest cautiously where I see value. I haven’t put any more money into my Nutmeg ISA just yet but will probably do so soon. Do take a look at my in-depth Nutmeg review if you haven’t already.

My monthly payments from my two Buy2LetCars investments (totalling around £420) continue to appear in my bank account every month like clockwork. I have had no issues at all with this platform, and am glad also to be supporting key workers by providing reasonably priced transport for them. Again, if you’d like to learn more, you can read my review of Buy2LetCars here and my more recent article about the company here. The minimum investment is £7,000 so this opportunity isn’t going to be for everyone – but if I had that sort of money burning a hole in my pocket right now, I wouldn’t hesitate to invest through them again. Each car generates a monthly income, with a large lump sum at the end of the three-year term. Interest rates range from 7 to 12 percent per year.

My other equity-based investments generally continue to do about as well as could be expected. As I said last time, my Bestinvest SIPP hasn’t lost any significant value when you allow for the fact that it’s in drawdown and I am currently withdrawing £200 a month from it. I’m not claiming any special skills as a stock picker, but having a broad range of funds in my portfolio has undoubtedly served me well. Years ago, also, I decided to invest some of my pension money in specialist healthcare funds, and these have done better than average over the last few months.

My property crowdfunding investments are still sluggish, though I was pleased to hear that Property Partner are recommencing the five-year anniversary process, starting on 1st October 2020. They also intend to start paying out dividends again on some properties from 30 September 2020 (though only those with strong enough financial reserves to justify this). Properties on their resale market are currently selling at up to 20% below the independent pre-Covid valuations, so theoretically there could be short-term profit opportunities here. But of course, there is no guarantee that properties will still sell at pre-Covid prices. I am not intending to invest any more on the PP resale market at this time, though I might review that if the initial five-year sales pass off successfully.

My Kuflink investments are still ticking along nicely, and it has been reassuring to see a steady stream of new loans going live on the platform over the last few weeks. I have been investing modestly in them, along with loan portions that have just a few months left to run via the Kuflink Marketplace. See my Kuflink review here for more information. Their up-to-£4,000 cashback offer for new investors is still open, incidentally.

I also have property crowdfunding investments with The House Crowd and Crowdlords. As mentioned last time, one of my House Crowd properties is in the process of being sold, so I should get around £1,000 from that. Checking on the THC website today, I see the buyer has now requested vacant possession, meaning the tenant has to be given notice to leave. So I am not expecting the sale to go through any time soon, especially as tenants have been given additional protection due to the pandemic (quite rightly, of course). They are continuing to pay rent, so this should at least help to defray some of the sale costs.

I received an email from Crowdlords a couple of weeks ago which came as a shock. It said that, ‘following recent announcements by the FCA to propose permanent changes of the mass-marketing of speculative illiquid securities, Crowdlords is ceasing all FCA regulated activity with immediate effect.’ The message went on to say that they are ‘currently exploring our options regarding the types of investments we will offer in the future and we will be in touch very soon with more details as appropriate.’

As regards existing CL investments – of which I have two – these will continue to be managed by Crowdlords. It is, though, disappointing that there have been no updates about either of my CL investments since before the pandemic, either on the website or by email. My investments are in bricks and mortar so I have no doubt I will get my money back eventually, hopefully with profits. But again, I’m not holding my breath. I will be writing to Crowdlords to see if any further information is available and will add an update here or in next month’s update as seems appropriate.

  • One other thing I have mentioned before is that I still have a few invitations available for an unusual sideline-earning opportunity based on matched betting. I have been asked not to divulge too many details about it on the blog for very good reasons I will explain privately to anyone who may be interested (and no, it’s not illegal!). What I can say is that it doesn’t require any financial outlay, is entirely hands-off, and will provide an income of £50 a month. No knowledge of betting is required, and you won’t have to place any bets yourself. Just note that the opportunity is only open to people who haven’t done matched betting before and have no more than two accounts already with online bookmakers. For more info (and receive a no-obligation invitation) drop me a line including your email address via my Contact Me page 🙂

Personal

As I’ve said before, I live on my own since my partner, Jayne, passed away a few years ago. I am lucky to live in a fairly large house with a good-sized garden, so being mostly confined to home hasn’t been as big a challenge for me as I’m sure it has for some. Also, I am well used to working from home, having done this for the last 30 years or so.

As you may know, I am a semi-retired freelance writer and editor (age 64). I’ve had very little work since the lockdown started, and was duly grateful to receive some financial support from the government’s SEISS scheme. I also intend to apply for the second tranche of SEISS payments when applications open on August 17th.

  • I am still available for freelance writing, editing or proofreading work, although not taking on book-length projects any more. Feel free to drop me a line if you think my services might be of interest to you 🙂

Last time I said it appeared the worst of the pandemic was behind us and things were starting to feel more normal again. I do still believe this, but of course in recent weeks there have been local ‘spikes’ leading to restrictions being reimposed in the areas concerned (including Leicester, my old university city). This has led to media scare stories about an imminent ‘second wave’ of the virus, for which there is still no actual evidence. I prefer to believe Professor Karol Sikora about this. He says such local upticks are entirely to be expected at this stage of the pandemic and should be controllable with the aid of track and trace and other suitable measures in affected areas.

One thing that has happened nationally in England since my last update is that face coverings have been made mandatory in shops and supermarkets. As you may know, I am very dubious about this. The evidence that masks offer any real benefit in this setting is weak at best. What’s more, many people misuse them, typically fiddling with them and re-using them without washing them (if that’s possible). Doing this can actually increase the risk of transmitting the virus. In addition, there are growing reports about people contracting other serious lung conditions through long-term use of masks.

What’s more, the imposition of mandatory masks has changed the atmosphere in shops and supermarkets, which had been starting to feel more relaxed. The tension in the air when shopping is palpable now. Although shop staff have generally displayed commonsense and tact when enforcing the rules, that hasn’t stopped some self-appointed ‘mask police’ from harassing people they think are breaking the rules.

I witnessed a particularly unsavoury incident in my local Morrisons, when a man confronted a woman who was shopping without a mask. He screamed insults at her, removing his own mask to do so – whether to berate her more effectively or (heaven forbid) ‘to see how she liked it’. The woman’s child was clearly distressed by the incident, and it left a bad taste in my mouth too.

For the record, while face coverings are now mandatory in shops, people with medical or psychological conditions that are exacerbated by masks don’t have to wear them (neither do they have to provide proof of this). My own suggestion, FWIW, would be for supermarkets to have a designated hour that is strictly ‘masks only’, so that people whose sensibilities are offended by others not wearing masks don’t have to see this. The rest of the time commonsense can be applied and people who can’t wear masks can be left to get on with their shopping without fear of being harangued by staff or other customers.

Personally I have a mild lung condition which means it is inadvisable for me to wear a tight face covering for more than a few minutes. I can be in the supermarket for over an hour when shopping for elderly friends as well as myself, and I’m not willing to put my health at risk for no good reason by wearing a mask for that long. So I am now wearing a clear plastic face shield/visor, which allows me to breathe but still provides a physical barrier. I think that’s a reasonable compromise personally. As a matter of interest, here is a link to the ones I ordered from Amazon, which I highly recommend [affiliate link].

You can also buy badges and lanyards from the Disability Horizons online shop which clearly show your mask exempt status (see picture below). There is no requirement to wear anything like this, but some people may wish to do so to reduce the likelihood of being challenged.

Mask exemption

I understand the government hoped that making masks mandatory in shops would encourage more people to go, but I don’t see that myself, and evidence appears to confirm that the opposite is the case. Personally I have found shopping a far less enjoyable experience since this measure was introduced, and am now going to the shops as little as possible. Their loss is Amazon’s gain, I’m afraid.

Moving on, I just had my first haircut since March, which was very much needed and appreciated. I have also been enjoying swimming again at my local David Lloyd club. It’s been great to be doing something normal again, and staff and management there have been doing a brilliant job. They are taking mitigation measures to protect against the virus, but these are generally unobtrusive and sensible (no mandatory masks for members or staff anywhere). The last time I went I also enjoyed a half-price cappuccino and cake in their coffee shop, by courtesy of the government’s Eat Out to Help Out scheme.

I am looking forward to my short break in Minehead at the start of September, which I booked before this crisis happened. I am also still mulling over whether to try to book a couple of days away in Wales. August is filling up now, including meeting friends I haven’t seen for ages, so this may have to wait till later in September. A weekend in Llandudno or Aberystwyth could definitely be on the cards.

Finally, I’m sure you’re dying to know, so I’m on the ninth and final season of Bergerac now. Jim has left the Jersey police and is living in France with new squeeze Danielle. The show did lose something when it moved away from Jersey, though of course the writers found plenty of opportunities to bring our hero back to the island. Some good new characters were introduced in the final series, notably the inimitable Roger Sloman playing Jim’s replacement, Inspector Deffand, with lip-curling disdain. I shall be sorry when I finish this box set. I do have others lined up, and am also mulling over subscribing to Britbox, mainly so I can relive my childhood with all the classic Doctor Who episodes there!

So that has been my experience of the coronavirus crisis to date. I do of course appreciate that I am in a fortunate position compared with many others, and hope you and your family are coping in these strange and worrying times. Here’s hoping that things continue to improve and we can all return in due course to something approximating normal life.

As ever, I’d love to hear your thoughts and experiences. If you have any comments or questions, as always, please do post them below.

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Get smart security for your home with Boundary

Get Smart Security for Your Home With Boundary

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Today I’m talking about the important subject of home security.

Obviously it’s not something anyone likes to think about, but the risk of being burgled is very real. It is estimated that a burglary is committed every 40 seconds in the UK (it’s impossible to give exact figures as many such crimes aren’t reported). That means in the time it takes you to read this article, four homes are likely to have been burgled.

Of course, there are certain precautions you can take to reduce the chances of becoming a victim yourself. These include:

  • Keep all windows and doors locked even when you’re at home.
  • Keep garages and sheds locked as well, especially if they contain tools or other items that might be useful to a burglar.
  • Try to vary your daily routine so that burglars (who often live nearby) don’t notice and take advantage.
  • Avoid mentioning holiday plans too widely (especially not on Facebook or other social media).
  • Install timers on lights so they go on and off in a seemingly random way while you are out.
  • Install security lighting that will detect visitors (invited or uninvited) and illuminate them.

These and similar measures can reduce the likelihood of a burglar targeting your property. But of course, they are unlikely to be sufficient alone. You need a burglar alarm, and ideally a complete home security system. Like this one, perhaps…

Boundary Smart Security

If you’re reading this blog, chances are you have a burglar alarm already. But especially if it was fitted a few years ago, it may not be as effective as you hope.

Older alarm systems are easily defeated by determined, professional burglars. And especially if you live in a nice house and have an expensive car or other signs of wealth, you could well be targeted by such individuals. You need a modern smart security system to provide both maximum protection from burglars and the peace of mind that comes from this.

Boundary aims to provide UK residents with state-of-the-art home security at an affordable price. Their new high-tech Boundary Alarm system is based around a central hub (see cover image, above) that wirelessly connects to each Boundary device in your home and allows you to control them from anywhere using a single smartphone app. It’s a sophisticated system that can still be installed by anyone and set up easily (though optionally you can pay for professional installation if you prefer).

You can customize your alarm system as you wish with door and window sensors that detect exactly when any door or window opens in your home and set off an alarm. You can also incorporate infra-red motion detectors (wireless and pet-safe) that will detect any human movement when you’re not at home. Other features include a key tag to easily arm and disarm the system when you’re coming and going, and a 95-decibel siren (pictured below) to alert your neighbours if your home is broken into.

Boundary outdoor siren

Plans

Boundary offer four different plans, with no long term contracts, cancellation fees or hidden costs. Full details can be viewed on the Boundary website, but briefly they are as follows…

Lite – This is the lowest cost option, with no ongoing fees. It covers two users, two sensors, the Boundary app, smart home integration and Boundary Neighbourhoods (once this service is launched). The latter is a ‘neighbourhood watch’ dashboard to allow people in local areas to connect online to share details of crime and suspicious activity. You will have the option to link your Boundary alarm so that if it goes off, your neighbours will automatically be notified.

Starter – This includes all the features above and others, including push notifications when the alarm goes off, alarm-set reminders when you leave the property, occupied home simulation (requiring smart light bulbs), and so on. This plan costs £4 a month.

Plus – This includes all the features above plus an extended three-year warranty, automated keyholder calling, partial setting (e.g. downstairs only), and more. This costs £8 a month.

Complete – This also includes police response. When the alarm goes off, a security guard at an alarm receiving centre (ARC) will be automatically notified and will immediately verify whether your home is being burgled. If confirmed, the security guard will request a police response and notify the property owner and/or nominated key holders. The complete plan also includes an annual maintenance visit by an engineer. The cost of this plan is £25 a month. Note that with this plan professional installation is mandatory.

Boundary is still in pre-launch phase and right now you can get a voucher for £50 off the price of any system costing £450 or more just by signing up to their newsletter using the form on their website (screen capture below). There is of course no obligation to use this – but if you’re at all interested, I recommend signing up now to get your hands on the £50 discount code.

Boundary newsletter sign-up

Self-install alarm systems are due to be sent out by the end of August, while for those who choose professional installation, the company say that currently they expect delivery and installation to take place in October.

You can ask for a no-obligation quotation via the website to get a price for a system tailored to your exact needs, with no nasty surprises further down the line. At the very least, if you think Boundary Alarm could be the answer to your home security needs, do sign up now for their email newsletter and £50 off voucher.

Note: This is a fully updated repost of my original article from April 2020.

Disclosure: This post includes my referral link, so if you click through and make a purchase, I may receive a commission for introducing you. This will not affect the price you pay or the service you receive.

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Defying the Mask Dictate

Guest Post: Defying the Mask Dictate

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Today I have a guest post for you from my old friend John Goss, who blogs at All the Goss.

John blogs about a range of subjects, including politics and media. In this post he writes about the government’s recent decision to make face masks in shops compulsory in England and why he believes this is a mistake. The post struck a chord with me, so I asked John for permission to republish it on PAS, which he kindly gave me. At the end of the post I will add a few thoughts of my own on the subject.

Over to John, then…

 

It is not for me to tell others how to behave. For myself, however, I am unable to wear a face mask because of a medical condition.

Maskaphobia is a lot more common than people may think. It can start in childhood, get further endorsed in the dentist’s chair, by horror movies and scary images – an example might be the image of an executioner or a “wild animal in a black mask” to quote one of my favourite poets, George Ivanov (1894-1958). The condition is serious.

It has been announced that the wearing of face masks in shops will be compulsory from 24 July. This will make it intolerable for maskaphobes. Other people wearing masks can only cause more stress for this growing sector of the population. Other illnesses as well as maskaphobia are made worse by the wearing of masks.

So is this directive from the government necessary? The graph below charts the falling number of deaths where Covid-19 has been reported from 1 May to 7 July. I think people can see for themselves that this sudden imposition of face masks is a simple test to see just how simple, gullible and pliable to government dictates the UK populace is.

Covid deaths to 7 July

People with disabilities, including deaf, blind and paranoid, may suffer adversely from mask apparel. Other medical conditions which are exacerbated by the wearing of masks include asthma and respiratory illnesses. People with high blood-pressure should not wear masks because added CO2 will increase their blood-pressure. Nearly everyone will have some condition which the wearing of face-masks will make worse.

Mine is not maskaphobia. Well not yet, though I do feel a strong aversion to masks, which is growing by the day. For me it is something else.

Medical conditions are private between you and your GP. You do not need to tell any third party what yours is. Explaining that you have one should be sufficient.

 

Many thanks again to John for allowing me to republish his post. You can read more of John’s work at https://johnplatinumgoss.com.

Regular readers of Pounds and Sense will know (e.g. from this post) that I am also opposed to the imposition of mandatory face coverings in shops and supermarkets. In my view any benefits they may confer are marginal at best. What’s more, if incorrectly used (as many do) they can actually increase the risk of transmission. On my last visit to my local Morrisons I saw several people fiddling with their masks and one actually hold it to his face and then touch items on the shelves with the same hand. If you were deliberately trying to transmit the virus, you could hardly do better than that.

I am also concerned that – contrary to what the government appears to believe – this measure will not encourage people to go out and shop. Indeed, the reverse is true. For example, a recent Twitter poll of over 43,000 people by Martin Lewis of Moneysavingexpert fame found that significantly more people said they would be less likely to go to the shops if masks are compulsory than those saying it would make this more likely.

Of course, PAS is aimed especially at older people and people with disabilities, and I am particularly concerned about the impact this measure will have on them. Here is one typical comment from Martin Lewis’s survey…

As someone who wouldn’t be wearing one on health grounds it makes me more anxious that I’d be subject to ridicule/online ‘calling out’ and abuse. So while it’s in force I won’t go to a shop unless life & death in a bid to look after my mh [mental health]

At a time when many of us are experiencing extreme stress and other mental health worries, it seems wrong to me that as a result of this measure many people feel they are being forced back into isolation.

I would like to close by endorsing again what John says in his article. If you have a medical or psychological condition that is exacerbated by wearing a mask, you do NOT have to wear one. Neither do you have to provide proof of the condition, or even explain to shop staff (or anyone else) what it is.

Although it’s not essential, if you would like a way of showing you are exempt from the requirement to wear a mask – for medical or psychological reasons – you can buy a badge/lanyard (see picture below) from.the Disability Horizons online shop. This has no official status (not that this is needed) but may reduce the likelihood of your being challenged.

Mask exemption

As always, if you have any comments or questions about this post, please do leave them below.

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My Coronavirus Crisis Experience: July Update

My Coronavirus Crisis Experience: July Update

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Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since lockdown started (you can read my June update here if you like).

In what I hope will be my final update, I thought I would discuss what has been happening with my finances and my life generally over the last few weeks. As previously, I will start with the money-related stuff…

Financial

Overall things haven’t changed dramatically since my update last month. Here’s the latest chart showing how my Nutmeg stocks and shares ISA is faring…

Nutmeg july 2020

As you can see, my ISA made a good recovery after losing over a third of its value in March (admittedly I helped things along by investing another £1,000 when the markets were near their lowest point). In the last few weeks things have plateaued somewhat, though the overall trend is still upward. Allowing for the extra £1,000 invested in March, my portfolio is now back at the level where it was before the crisis started.

Assuming there is no major second wave of the virus – and there has been little sign of that so far – I am hopeful the recovery will continue over the longer term. Of course, there are likely to be bumps along the way, and in the short term at least we face the likelihood of a recession. Even so, I am keeping my fingers crossed for a recovery over the next year or so, and am continuing to invest cautiously where I see value. I haven’t put any more money into my Nutmeg ISA yet but definitely plan to. I may, though, take the opportunity to reduce my risk level (which is easy to do from the Nutmeg dashboard). Do take a look at my in-depth Nutmeg review if you haven’t already.

My monthly payments from my two Buy2LetCars investments (totalling around £420) continue to appear in my bank account every month like clockwork. I was initially wary about this, as it is obviously a bit outside the usual range of investments. However, I have had no issues at all, and am glad also to be supporting key workers by providing reasonably priced transport for them.

Again, if you’d like to learn more, you can read my review of Buy2LetCars here and my more recent article about the company here. Obviously the minimum investment is £7,000 so this opportunity isn’t going to be for everyone – but if I had that sort of money burning a hole in my pocket right now, I wouldn’t hesitate to invest through them again. Each car generates a monthly income, with a large lump sum at the end of the three-year term. Interest rates range from 7 to 12 percent per year.

My other equity-based investments generally are doing about as well as could be expected in the circumstances and in some cases better. In particular, my Bestinvest SIPP hasn’t lost any significant value when you allow for the fact that it’s in drawdown and I am currently withdrawing £200 a month from it. I’m not claiming any special skills as a stock picker, but having a broad range of funds in my portfolio has undoubtedly served me well. Years ago, also, I decided to invest some of my pension money in specialist healthcare funds, and these have done better than average over the last few months 🙂

On the property crowdfunding side, the picture isn’t so rosy. A number of my property investments still seem to be stuck in limbo, though I did hear from The House Crowd that they had received an offer for a house in Liverpool in which I invested £1,000 six years ago (pictured below).

THC Property

The offer was for slightly less than the original purchase amount, but nonetheless the investors (including me) voted by a clear majority to accept it. So I will get a bit less than my original £1,000 back, though when you add in the dividend payments (from rent) since I first invested, I should be slightly up overall. But that’s before you allow for inflation, of course!

I am hoping that the Stamp Duty holiday announced by chancellor Rishi Sunak this week will help get the housing market moving and maybe ‘unstick’ some of my other property crowdfunding investments that have been on hold for a while. In retrospect I probably let my enthusiasm for the property crowdfunding concept run away with me a bit in the past. Overall I have still made some money from these investments, but not as much as I hoped or expected. And I still have a fair-sized sum tied up in properties I really expected to be sold by now. I do still think property crowdfunding can merit a place in people’s portfolios, but would advise diversifying as much as possible across platforms and properties. And definitely don’t invest money you might need any time soon!

Finally on this subject, I would just say that I exclude property loan investment platform Kuflink from the criticisms above. All of my investments with them have been doing well. Although there was a short delay with one loan, it has now been repaid (with added interest). Kuflink are adding new investment opportunities to the platform most days and I have been investing modestly in them, along with loan portions that have just a few months left to run via the Kuflink Marketplace. See my Kuflink review here for more information. Their up-to-£4,000 cashback offer for new investors is still open, incidentally.

  • One other thing I have mentioned before is that I have a few invitations available for an unusual sideline-earning opportunity based on matched betting. I have been asked not to divulge too many details about it on the blog for very good reasons I will explain privately to anyone who may be interested (and no, it’s not illegal!). What I can say is that it doesn’t require any financial outlay, is entirely hands-off, and will provide an income of £50 a month. No knowledge of betting is required, and you won’t have to place any bets yourself. Just note that the opportunity is only open to people who haven’t done matched betting before and have no more than two accounts already with online bookmakers. For more info (and receive a no-obligation invitation) drop me a line including your email address via my Contact Me page 🙂

Personal

As I’ve said before, I live on my own since my partner, Jayne, passed away a few years ago. I am lucky to live in a fairly large house with a good-sized garden, so being mostly confined to home hasn’t been as big a challenge for me as I’m sure it has for some. Also, I am well used to working from home, having done this for the last 30 years or so.

Nonetheless, the ongoing nature of the crisis is undoubtedly taking its toll on me. Every day seems so similar it is starting to feel like Groundhog Day. And while that is one of my all-time favourite movies, I definitely don’t want to live in it myself. Mind you, I saw someone on Twitter compare their experience of lockdown at home with the Overlook Hotel in The Shining. At least I wouldn’t claim it’s as bad as that!

So far as work is concerned, as you may know I’m a semi-retired freelance writer and editor (age 64). I’ve had very little work since the lockdown started, and was duly grateful to receive some financial support from the government’s SEISS scheme. I have, though, been keeping myself busy (and sane) with this blog and – as you may have noticed – have enjoyed quite a productive period. I ran out of inspiration a bit this week, but hopefully that is just a temporary blip.

I am still available for freelance writing, editing or proofreading work, although I am not taking on book-length projects any more. Feel free to drop me a line if you think my services might be of interest to you 🙂

Life generally is changing now as – touch wood – the worst of the pandemic appears to be behind us. The experience of shopping is still evolving and I guess it will be many months before it is entirely back to normal. I haven’t yet been to any ‘non-essential’ shops, but at my local Morrisons supermarket it feels a bit more relaxed. I would say only about a quarter of people are wearing masks or other face coverings now. I was wearing a bandana over my nose and mouth but have mostly stopped that unless I find myself surrounded by other shoppers. Of course, in England face coverings are now compulsory on public transport, so I will be keeping my bandanas washed and ready for that.

UPDATE: Just heard that the government is considering making the wearing of face-masks in shops in England compulsory. I find that bizarre at a time when – apart from a few local outbreaks – the virus is waning rapidly. It also sends out a mixed message at a time when the government is encouraging people to eat out, obviously not wearing masks. And the evidence in favour of wearing masks in public is weak anyway. Personally I really hope.the government refrains from doing this.

Many pubs are open again now. I walked past my nearest, The Drill, on Sunday afternoon. It all looked quite continental, with people sitting at tables outside and waitresses going in and out with trays of beer and other drinks. There was a happy buzz of conversation and laughter. The only less cheerful note was struck by the manager standing by the door with a clipboard, presumably taking the contact details of people as they arrived for contact-tracing purposes. I wasn’t tempted to go in myself, though I don’t rule out going for a drink and a meal soon, maybe taking advantage of the government’s £10 off vouchers 🙂

I am still looking forward to my short break in Minehead in September, which I booked before this crisis happened. I am also mulling over whether to try to book a couple of days away in August. I worked out the other day that I have been to Wales every year for over 30 years, and it would be a shame to break that long run in 2020. Llandudno or Aberystwyth could both be contenders.

I am still working my way through my box sets of Deep Space Nine and Bergerac. With the latter, it’s quite interesting to see how mobile phones evolved as the series was made. In the earliest episodes I guess they didn’t exist at all, and Bergerac’s office generally seemed to know telepathically where he was and phoned him at his father-in-law’s or wherever. Later on car phones make an appearance, and then house-brick-sized mobiles with aerials sticking out of them. Ah, the nostalgia!

I am trying not to spend too much time on social media as I know it’s bad for my mental health. There are a few people I follow regularly on Twitter and and enjoy hearing from, though. Last time I mentioned Professor Karol Sikora, a well-respected cancer specialist with a doctorate in immunology. Many people, including me, have found him a beacon of hope amid all the negativity, with his  generally positive and optimistic view (though still informed by science and statistics). He doesn’t have a political axe to grind and is willing to give the government credit for things they have done well and criticize things they have done badly. If you want one person to follow for unbiased news about the pandemic with a measure of hope for the future, I highly recommend checking out his Twitter page.

Lately I’ve also been enjoying reading the posts of Scottish blogger Effie Deans (who blogs as Lily of St Leonards). She is a Scottish academic who has a lot of interesting things to say about nationalism, education, culture, and more. You may or may not agree with all her views; but if you want an interesting and genuinely thought-provoking perspective on events from someone who isn’t afraid to challenge current orthodoxies, I highly recommend checking out her Twitter page and blog.

To end on a positive note, I am looking forward to having my hair cut for the first time in four months next week. I’ve actually quite enjoyed revisiting my long-haired student days, but enough is definitely enough! I am also looking forward to going swimming again after it was announced that outdoor pools can reopen from tomorrow and indoor pools a fortnight later. The David Lloyd Leisure club I belong to has both indoor and outdoor pools, so I am waiting to hear whether they will be opening the outdoor pool immediately or whether I will have to wait a bit longer till both pools can reopen. (UPDATE – Now heard I have to wait another fortnight 🙁 )

So that has been my experience of the coronavirus crisis to date. I do of course appreciate that I am in a fortunate position compared with many others, and hope you and your family are coping in these strange and worrying times. Here’s hoping that things continue to improve and we can all return in due course to something approximating normal life.

As ever, I’d love to hear your thoughts and experiences. If you have any comments or questions, as always, please do post them below.

Disclaimer: I am not a registered financial adviser and nothing in this post should be construed as personal financial advice. You should always do your own ‘due diligence’ before investing and seek advice from a qualified financial adviser/planner if in any doubt how best to proceed. All investments carry a risk of loss.

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Equity Release

Should You Use Equity Release to Unlock the Value of Your Home?

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Many older people find themselves asset rich but income poor. In other words, they own valuable assets such as their home but live on a modest income.

If that applies to you, equity release is an option you may want to consider, to release some of the cash locked up in your property.

There are two key requirements for doing this. The first is that you must be 55 or over (home reversion plans are only available to over 60s).

The second is that there must be equity available in your home. That means the mortgage must be paid off or the balance outstanding must be significantly lower than the house’s current value. Of course, many older people do find themselves in this situation.

There are two main types of equity release scheme, home reversion plans and lifetime mortgages. I’ll cover each of these in turn.

Home Reversion Plans

With a home reversion plan, a company buys your home but guarantees to let you and your partner (if you have one) go on living there rent-free until you die or go into long-term care.

After this the company normally sells the house and take its profit. Your beneficiaries will not receive any proceeds from the sale or benefit from any rise in the property’s value.

Note that as the company is allowing you to stay in the house until you no longer need it, you won’t receive the full market value of your property. Home reversion plan providers will usually pay you only 30 to 60% of the value of your home. How much you are offered depends on how old you are and how long the company expects you to go on living at the property.

Lifetime Mortgages

Lifetime mortgages are similar to ordinary mortgages except no repayments have to be made until the house is sold.

You receive tax-free cash to do whatever you like with. Eventually of course this will have to be repaid with interest, and the interest rates charged are typically a little higher than standard mortgage rates. However, as you retain ownership of the property until it is sold, this cost may be partly or wholly offset by the property’s rise in value.

There are two types of lifetime mortgage, lump sum and drawdown. A lump sum lifetime mortgage is a loan secured against your home, giving you access to a one-off pot of cash. A drawdown lifetime mortgage lets you draw down cash in stages after an initial lump sum, with interest only payable on the money released. A drawdown lifetime mortgage is therefore likely to work out significantly cheaper overall than a lump sum mortgage.

In either case, how much you can borrow depends on a number of factors, including your age, the value of the property and in some circumstances your health. At 67 you can typically borrow around a quarter of the value of your home, rising to around a third in your mid-70s,

If you have certain medical conditions, you may be able to borrow a higher proportion of your property’s value or obtain a better interest rate via an ‘enhanced’ plan.

Both types of equity release scheme have their attractions, but lifetime mortgages are nowadays by far the more popular option. This is because of their greater flexibility and the fact that you retain ownership of the house and can therefore benefit from any rise in its value.

Negative Equity

With both home reversion plans and lifetime mortgages, you are protected from negative equity (i.e. the risk you or your beneficiaries will end up owing more to the scheme provider than the property is worth). Provided the company is approved by the Equity Release Council (see below), any shortfall at the end will be written off.

Opting for equity release is a major decision, however, and will clearly affect how much money will be left for your children and any other beneficiaries to inherit. It’s important therefore to discuss it with them and get their views; although in the end it is of course your money and your right to do whatever you want with it.

More Points to Consider

Here are a few more things to bear in mind before opting for equity release.

  • Consider also downsizing to a smaller property and/or moving to a less expensive part of the country. This can be a cheaper way to release funds from your home if you don’t mind the disruption. But do this sooner rather than later, since people typically become more reluctant to move as they get older.
  • As mentioned above, ensure that the company you deal with is a member of the Equity Release Council. Their members must abide by a strict code of practice, and all offer a no-negative-equity guarantee.
  • Taking cash using equity release may affect your eligibility for means-tested benefits such as pension credit. This applies especially if you take a large lump sum, as you may then exceed the qualifying limit for benefits such as pension credit and council tax reduction. With a drawdown lifetime mortgage – where you take money in chunks as required – you may be able to remain under the capital limits and therefore qualify (or continue to qualify) for these benefits.
  • Leave it for as long as you can. The later you take equity release, the less costly it is likely to prove overall.
  • If you don’t have family or others you want to leave your wealth to, cost isn’t such an issue, though. In that case there is much to be said for taking equity release to improve your quality of life and leaving the money be repaid out of your estate when you die.
  • If you have bought your house on an interest-only mortgage and don’t have the money to pay it off, equity release can be a good way to repay the loan and reduce your monthly outgoings.
  • You don’t have to do it all in one go. Lifetime mortgages in particular are very flexible, and as mentioned with a drawdown plan you can take money in chunks when you need it and interest will only accrue on what you have withdrawn so far.

Key Equity Release

While equity release can be a great way to free up cash to help you enjoy later life, taking it is a major decision with many potential ramifications. It’s therefore very important (and indeed a regulatory requirement) to get independent professional advice before proceeding.

Key Equity Release [affiliate link] are leading equity release specialists who work with a wide range of financial service providers and provide no-obligation advice on the best options in your case.

Key Equity Release only arrange lifetime mortgages, but (as mentioned above) these are now by far the most popular option for equity release, with many advantages due to their flexibility and the fact you retain ownership of your home.

All advice from Key is free of charge, and due to the pandemic is now available in full over the phone. Key’s independent adviser will discuss your options with you, including checking that you are receiving all the state benefits you may be entitled to. They will recommend based on your needs and circumstances. For example, if you want to ensure some money remains for your descendants, however long you remain in your home, they have plans to cater for that. Equally, if your priority is getting the lowest interest rate or withdrawing the largest possible amount, they can arrange this too.

Key say that they have been able to access interest rates from as low as 2.45%, and most of their customers have received a fixed annual interest rate of 3.97% or lower.

  • The company also has mainly five-star reviews on Trust Pilot (average 4.9), which you can check out via this link. This is one of the highest average feedback scores I have seen on Trust Pilot.

Closing Thoughts

If you are looking for a way to release money from your property, whether to fund specific purchases or just to make later life more comfortable, equity release is definitely worth considering. The main downside is – of course – that ultimately there will be less money to pass on to your descendants. All reputable providers, however, offer a No Negative Equity Guarantee, and some such as Key Equity Release can arrange plans where a certain amount of cash is guaranteed to remain in your estate.

Equity release interest rates are at historically low levels, and in most cases are fixed for life. If equity release is right for you – and you will need to discuss this fully with an independent adviser before proceeding – now could be the ideal time to set the ball rolling. So why not get in touch with Key Equity Release today for a no-obligation discussion?

If you have any comments or queries about this article, as always, please do post them below.

Disclosure: This is a sponsored post. If you click through a link in it and arrange an equity release plan with the company in question, I may receive a commission for introducing you. This will not affect the service you receive or the terms you are offered. Please note also that I am not a registered financial adviser and nothing in this post should be construed as individual financial advice.



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Buying and selling property in the coronavirus crisis

Buying and Selling Property During the Coronavirus Crisis

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As you probably know, during the initial coronavirus lockdown, buying and selling property was almost impossible.

As restrictions are slowly easing, however, house buying and selling has become feasible again. Estate agents have been reporting a big upsurge in enquiries, as the long period of confinement to home has made many people more aware of the shortcomings of their current properties!

Of course, buying and selling houses while the virus remains a threat requires risks to be mitigated as much as possible. That means wearing gloves and masks when meeting agents, buyers or sellers. Following the standard hygiene rules about hand-washing and using hand sanitizers before and after any personal meetings is also vital.

The New Normal

With the need for social distancing and other precautions to reduce the risk of transmitting the virus, valuing and viewing properties has become more challenging. Most agents now offer virtual viewings – generally using a mobile phone camera – as an alternative to personal visits.

Leading online estate agency Yopa has issued the following advice for viewings or valuations…

  1. Vulnerable customers: customers that fall under the ‘vulnerable’ group as advised by the government, should let their local Yopa agent know and will then be offered a virtual valuation or viewing until there is government advice that the safety of this group is no longer a concern.
  2. Preference: we appreciate that not everyone will want a face-to-face meeting with a Yopa agent yet – in which case, we will happily offer a virtual alternative as we have successfully throughout lockdown to date.  We will keep in touch with you to understand if your preferences change as more information is issued by the government on infection rates and virus control. 
  3. Travel: we would advise our customers, where possible, to restrict travel on public transport to attend a valuation or a viewing. 
  4. Minimise contact: we ask that, at a minimum, only the buyer or seller of a property is present at a viewing or valuation – no other parties. All non-Yopa attendees should be from the same household.  We would advise that we conduct  viewings and valuations without the vendor present.
  5. Distance: When meeting with a Yopa agent on a valuation or a viewing, where possible stand at a 2m distance and refrain from shaking hands.
  6. On the property: 
    1. Gaining access:  For vendors, your Yopa agent will call you when you are outside the property to gain access. For buyers, please call your Yopa agent when outside the property to gain access. 
    2. Duration:  Valuation and viewing time should be kept as short as possible to minimize risk.
    3. Air flow: we politely request that all windows and doors are opened in advance of the valuation or viewing where possible, so the Yopa agent and vendor/prospective buyer can move through the property without touching door handles or surfaces.
    4. Refreshments:  whilst very kind of our vendors to offer, we politely ask that refreshments are not offered to our agents whilst on the premises.  
    5. Documentation: as we are a digital business, no paper documentation needs to be transferred between Yopa and our customers – it can all be managed electronically.
    6. Post valuation or viewing: if people have been shown around your current home, you should clean down surfaces, such as door handles, after each viewing with standard cleaning that products.

Yopa say that vendors conducting their own property viewings should complete these in accordance with the recommendations above.

The Yopa Option

If you are thinking of selling your home, an online agency such as Yopa is well worth considering.

They offer a full service, and say they can do anything a traditional estate agent does. They are also open at evenings and weekends.

Yopa charge a fixed fee which is agreed in advance, and never add commission. You can choose to pay when your home is sold, or up-front if you prefer.

Although Yopa are website-based, they have local agents whom they say will be with you at every step until your home is sold. You can also monitor viewings, offers and feedback any time you wish using the YopaHub online dashboard.

Finally, other services offered by Yopa include help with mortgages and conveyancing (via their commercial partners). In addition, every homeowner gets a free utilities switching service.

Final Thoughts

If you’re considering moving, it’s definitely not too soon to get started and benefit from the pent-up demand from other would-be buyers and sellers.

So why not check out the Yopa website today and see if their service could be the one to help you make your next move and find the home of your dreams 🙂

As always , if you have any comments or questions about this post, please do leave them below.

Disclosure: This is a sponsored post on behalf of Yopa. It includes affiliate links, so if you click through and end up making a purchase, I may receive a commission for introducing you. This will not affect in any way the service you receive or the price you pay.



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Looking after your mental health

Looking After Your Mental Health in the Coronavirus Crisis

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At the risk of stating the obvious, the last few months have been stressful for all of us.

As mentioned in this post last month, a YouGov survey in May found that over a third of respondents (39%) reported a decline in their mental health since March 2020, when the lockdown and other anti-virus measures started. A month on, it’s quite likely that figure would be even higher.

I’ve certainly noticed that I am feeling more stressed and anxious than usual, and I’m luckier than many. Although I live alone, I do have a large house and garden, and also have the advantage of years of experience of working from home. How people in tower block flats have been coping is hard to imagine, particularly if they have young children they are home-schooling as well.

I was keen to find out what methods other people are using to preserve their mental health in these challenging times, so I asked some fellow UK money bloggers what worked for them. I was intrigued by their varied replies, so I’ve set out their comments below. I’ll share some of my own thoughts and experiences afterwards

What Are Other Bloggers Doing?

Emma from Bee Money Savvy says, ‘Writing lists has been my saviour these last few months. I get down if I don’t feel like I’ve achieved much in a day, so having a list of things I’ve managed to do (even small things like eating a healthy breakfast or putting a wash on) has helped me feel somewhat productive and more positive about the day I’ve had.’

Bex from How to B Welthy says her strategies include reading self help books e.g. Good Vibes, Good Life, along with breathing exercises, meditation, getting a good night’s sleep and going out for a walk. She adds that she suffers with mental health issues constantly, though, not just in lockdown.

Collette from Cashback Collette writes, ‘Ive been trying really hard to get outdoors at least once a day either for a walk or a jog – sometimes with my fiance or on my own to clear my head and get some fresh air and vitamin D. I’ve also found I’m in a much better mood and feel more positive on days I speak to friends and family, so I have been chatting to them as much as possible.’

Claire from Money Saving Central says, ‘I have been having an hour to myself in the garden or upstairs every day, once my partner gets in from work. I am not used to all this background noise of iPads, TVs, and children whilst I am trying to work. I really need to sit quietly for just an hour to let my head breathe.’

Blogging duo Joleisa from Joleisa.com say, ‘We have been doing two things really to help us keep sane: crafting, and checking in virtually on elderly friends. We’ve always thought that showing concern for others gives you a boost too.‘

Jennifer from Monethalia says, ‘What’s really helping me is exercising every morning. I’ve never been a gym person but since lockdown happened, I’ve started doing home workouts.’

Nicola from The Frugal Cottage says, ‘I’ve been trying to stay in a routine and focus on finding something positive each day. This is easier on some days than others!’

Pete from Household Money Saving says, ‘I have been watching old box sets on Netflix. I’ve found it comforting to watch something familiar that reminds me of calmer times.’

Charlotte of Charlotte Musha says, ‘Gardening and in particular weeding have been the best thing for my mental health during lockdown. It’s one of those small jobs that make a big difference, so you always feel like you’ve achieved something.’

Laura from Harley Counselling writes, ‘I’m a talking therapist and counsellor, and one of the top tips I’m giving to my clients is to actively build a positive structure into their routine. Designating certain days for activities which we know are good for us gives us a sense of rhythm and familiarity. Things like going for a walk or run, meditation, reading, journalling or gardening can be really restorative and give us space to order our thoughts.’

Katie from Student Skint says, ‘The first 6-8 weeks it was running errands to help give me a reason to get out of the house. But now since rules have eased a bit, it’s making plans to see other people. I find that if I have plans with a friend (or friends) a couple of times a week then it feels more ‘normal’ because I’m seeing and speaking to the people I usually would in person.’

Dan from The Financial Wilderness writes, ‘I meditate. Personally I use the Headspace app which is fantastic, but there are other great resources both free and paid out there.
I always though meditation was a bit, er, ‘woo-woo’ and was deeply skeptical, but I can honestly say after trying it for some time I really notice the benefits, feel calmer and am able to control my thoughts a lot better.’ Dan adds, ‘I am also really enjoying picking up my PlayStation again. I loved gaming throughout my teens but find life is often too busy to be able to – it’s been lovely to rediscover that pleasure.’

Zoe of Eco-Thrifty Living comments, ‘I wrote a blog post about how to deal with anxiety on a budget. I have suffered from anxiety and panic attacks in the past and have found things that have helped me. They include doing CBT – I link to some free online self help workbooks in the post, running, drawing and doing a risk register. Not mentioned in the post, but I also find hypnotherapy downloads can be really helpful.’

Joseph who blogs at Thrifty Chap says, ‘Photography. I have a photography YouTube channel and have previous discussed how my mental health benefits from it.’

Bear from Save Like a Bear writes, ‘For me it’s a combination of things: 1. Spending 99% of my social media time on 1-1 conversations rather than anxious scroll holes.
2. Taking a time out to cook dinner from scratch every night no matter how busy I think I am. This has been a good way to get creative and use up what’s in the cupboards because of shopping very rarely too.
3. I’ll echo all the great comments above about what a difference a bit of daily exercise/fresh air/vitamin D makes. I use those walks to listen to podcasts so learning something each day feels like a productive distraction.
4. Having a shutdown routine at night because sleep is so important.
5. This is a very money blogger thing to do, but I had a financial audit and made sure my money was exactly where I wanted it/changed a few systems. It’s one way to feel in control when the world is out of control.‘

Si of Financial Expert says, ‘I’ve been using the Headspace app for 10 minutes each morning to gain a 10 minute window of calm before I begin work. It must be working, as it’s three months in and I now look forward to it.’

Nicola from My Savings Journal says, ‘I’ve tried to let go of my own self-imposed ideas on how productive I should be and the desire to maximise every moment of my time. Instead, I’ve let myself explore hobbies, enjoyed time working on my blog, and tried new ways of keeping my home organised. It’s definitely helped to keep my anxiety and stress levels at bay, as well as creating a new “normal” in terms of balancing relaxation with productivity.’

Michelle from Time and Pence says, ‘I have made sure that we, as a family, have gone out on regular long walks so we have plenty of time out of the house. I believe that has been the real key to coping. While at home, lots of gardening, video chats and games with family and friends. And also we bought my son a keyboard for his lockdown birthday so we’ve all enjoyed learning how to play using tutorials on YouTube.’ And she adds, ‘My mom is shielding due to COPD and she ordered herself lots of painting by numbers, with all the equipment. She set herself a little art studio up at home and she has loved it. It’s made a massive difference to her.’

Rhian of Rhian Westbury says, ‘To keep my mental health high during this period I try and maintain a routine. I need to maintain a good sleeping pattern to maintain good mental health so I wake up every morning at near enough the same time as I would if I was going into the office. And I don’t stay up really late and maintain my normal bedtime. The routine helps me to continue as much as normal during this time.’

Emma of TuppenysFIREplace says, ‘We moved to the Lake District last year so we could spend more time on the fells, only to find they’ve been closed since lockdown. We are not used to being together quite so much so decided we needed to plan our days to counter this. We have regular ‘date nights’ at home where we dress up as if we were going out, and we have at least one TV/internet-free night so we can focus on quality time together. Makes up for the little spats that happen during the day!’

Finally, Marie who blogs at Broke Girl in the City shared a link to her post titled Coronavirus: Top Tips For Coping With Anxiety and Stress. Number one in this is Be Kind to Yourself, a piece of advice I do very much agree with (see below).

Thank you very much to all my money blogging colleagues for sharing their thoughts. I do hope you found them as interesting as I did, and they may have given you one or two ideas for coping strategies you could try as well.

  • One thing that did surprise me a bit is that nobody mentioned baking, which I know has been very popular during lockdown. I was also surprised that there was little mention of video gaming, as I hear lots of people during this time have been escaping into the virtual worlds of Animal Crossing (see picture below), Stardew Valley, Minecraft and so on 🙂

Animal Crossing

My Own Coping Strategies

So what have I been doing to try to preserve my sanity through this challenging period?

As mentioned in my earlier update, I am finding daily walks therapeutic. I especially enjoy a walk after breakfast, and intend to keep this going even after the crisis is over.

Like many of my fellow bloggers (see above) I find it helpful to have a daily routine. After I return from my walk, I generally do a few hours’ work, usually on the blog or any other paid work (writing, editing or proofreading) I may have. I try to stop at lunch time and do other things from then on, though – I am meant to be semi-retired, after all!

I aim to speak to somebody every day, if not in person then over the phone or (occasionally) via Skype. Living alone I think that’s super-important. In the afternoons I go for another walk, or shopping, or spend some time working/relaxing in the garden.

I have a love-hate relationship with social media nowadays. On the one hand, it can be great for keeping in touch with friends and family, and I also use it as a source of news and information. On the other hand, with Twitter especially, there can be a lot of negativity, rudeness and even outright hatred (especially when politics raises its head). If I spend too long there I can feel my stress levels start to rise. I try to limit my time on social media – and recommend everyone else does likewise – but that isn’t always easy, as it pulls you in insidiously.

In the evenings I usually make an effort to cook something nice rather than relying on convenience foods (though they have their place). As mentioned before I typically seek out some escapist entertainment in the evening. This often involves watching one or two episodes of a box-set, even if it’s something I’ve already seen. Recently I have been re-watching the detective series Bergerac with John Nettles which – as you probably know – is set on Jersey. I enjoy the stories but also the lovely island scenery, which reminds me of holidays there and in Guernsey with Jayne in happier times.

  • Finally, when I am feeling particularly anxious, I find CBD Oil for Anxiety helpful for calming me down and helping to get a restful night’s sleep. Based on my experience it’s definitely worth a try!

Further Advice

I think my top tip to anyone who is struggling with their mental health at the moment is don’t be afraid to reach out for support if you need it. Speak to friends and family, and to health professionals if appropriate. There is also some great advice about looking after your mental health during the pandemic at www.mind.org.uk/coronavirus.

Money – or the lack of it – can obviously cause stress as well. The YouGov survey mentioned earlier found that nearly a quarter of people (24%) are avoiding talking about finances with friends and family, for fear of burdening them or making them anxious. The same survey also found that 36% of people said that the pandemic had already had a negative impact on their personal finances, with 35% trying to cut costs during lockdown.

As I have said before, talking to someone about your financial worries can be very helpful. Personally I’m a fan of having a personal financial adviser (here’s a link to my blog post about why – despite being a money blogger – I have a personal financial adviser). But even if you don’t, talking to friends and family about money matters can help you put things into perspective and reduce levels of stress and anxiety. You may also enjoy reading reading this article (in which i am quoted) about how to cope with common causes of stress.

Above all else, though, be kind to yourself, and don’t suffer in silence. And equally, if you know someone who may be struggling – or you just haven’t seen or heard from them for a while – reach out by phone or at least message them to check they are okay. It may be a cliche, but we really are all in this together. And pretty much everyone is struggling in their own way.

So that’s how I and my fellow UK money bloggers are getting through our days at the moment. But I’d love to hear what works for you. Are you baking for Britain or painting pebbles, writing your memoirs or tending your virtual island? Please post any comments or questions below as usual!

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