Pay via Preference Shares !
When myson Neil died 1999, his reducible Mortgage was with a buildingsociety but was taken over by a bank and every society Mortgagee was given 400 preferer chare, which paid 7% interest every six months and as Executer of Neil's will I kept the preference when his estate was administered. However, based a problem with owning the shares unfortunately I cash them for their face value of £1. So I received £400 from the bank. Preference share are ideal for rewarding employees and Bank account costumers, who have proved valuable to the bank but should preference shares should be issuedat £1 withouta sender value
Example: 1,000 preference share £10 per share with no surrender receiving 10% interest = £100 interest peryear.Therefore,360,0000 preference shares=£36,000 gross interes t peryear.