P536 ORACLE 536 Sat29 Jul C4 2200:10  1/6    YOU WRITE...  by Carol Oliver Have you got a question or a point to make? Here are some tips to follow: * Keep your question short but include all relevant details in your letter. * Don't send an SAE - the Financial Services Act forbids personal replies. * Please give your full address in case we need more details - your name and address will remain confidential. * Our address is Your Money, ORACLE, 25-32 Marshall Street, London W1V 1LL. Here are this week's letters > Your Money guide 530 Feature 537 PROPERTY ABROAD - see page 498 Feature Nat Savings Tourist Rates City
P536 ORACLE 536 Sat29 Jul C4 2200:00  4/6    YOU WRITE...  DO I HAVE TO SELL MY SHARES? I am a shareholder in Molin. I don't want to sell if the majority accept the takeover offer. Will I be forced to sell or can I remain a shareholder in the new company? R.H., Aylesbury, Buckinghamshire Your Money replies: It depends on the terms of the offer, but generally you would become a 'minority shareholder' with no voting rights, although you would get dividends. However, there does come a point where if the company owns more than 90% of shares it does not already own, it can force you to sell. more follows > Your Money guide 530 Feature 537 Feature Nat Savings Tourist Rates City
P536 ORACLE 536 Sat29 Jul C4 2201:11  5/6    YOU WRITE...  INVESTMENT BONDS...1 We are considering an 'equity release' scheme on our property of £30,000. It has been recommended that we put £24,000 into an investment bond to produce a monthly income of £200. What is an investment bond and are there any alternatives? D.S., Rossendale, Lancs Your Money replies: An investment bond is a single premium life insurance policy, the investment return depending on performance. These bonds are often recommended for higher rate taxp—xfrs and older people whose income is at or near the limit where Age Allowance is taken away. > Your Money guide 530 Feature 537 Feature Nat Savings Tourist Rates City
P536 ORACLE 536 Sat29 Jul C4 2200:01  2/6    YOU WRITE...  PEP SHARES Can I put shares plus the rights issue shares I have in a Third Market company into a Personal Equity Scheme through an authorised plan? If not, can I initiate my own PEP? P.S., Stock-on-Tees, Cleveland Your Money replies: In theory you can put any UK share into a PEP, but it has to be bought through the plan itself except for privatisation issues. In the latter case you get 30 days to incorporate them into a plan. In practice, most plans restrict exactly which shares you can invest in. A D-I-Y PEP is not possible. another letter > Your Money guide 530 Feature 537 Feature Nat Savings Tourist Rates City
P536 ORACLE 536 Sat29 Jul C4 2200:01  3/6    YOU WRITE...  FINDING THE OMBUDSMEN Some time ago you mentioned the addresses of the ombudsmen relating to bank and mortgage queries. Can you tell me what they were? E.G., Gwynedd, North Wales Your Money replies: The Banking Ombudsman can be found at 5-11 Fetter Lane, London EC4A 1BR (01-583 1394) and the Building Society Ombudsman at 35-37 Grosvenor Gardens, London, SW1X 7AN (phone 01-931 0044). another letter > Your Money guide 530 Feature 537 Bridge is now on page 616 Feature Nat Savings Tourist Rates City
P536 ORACLE 536 Sat29 Jul C4 2211:01  6/6    YOU WRITE...  INVESTMENT BONDS...2 Up to 5% of the original investment can be withdrawn each year without it having to be declared. However, this would produce only £1,200 a year - less than the £200 a month you quote. The initial charge and annual fee for these bonds varies between companies. Alternatives would depend on your tax position and age. For £24,000 it is possible to get an income of around £200 a month from a building society - more from the National Savings Income bonds if you are a non taxpaxfr. An insurance annuity is also a possibility Seek independent advice. more follows > Your Money guide 530 Feature 537 Feature Nat Savings Tourist Rates City