Britannia 7%

RDB

There are 3 products that I am interested in, I think my best bet is with Britannia but if anyone can sugest something better I would be very grateful.

1. I want a 1 yr fixed rate bond for about 110k I can get 7% with Britannia.

2. Im looking for the best place to put my 250 Child trust fund voucher from the government for my new baby, Brit do 7% for 2 yrs. I only want a cash one nothing to do with stock market.

3. Im looking for the best reg saver account. The one I like the look of the best at the moment is Britannia one that is for saving for deposite for mortgage. Its 7% again I want to save about 500 month but the only thing is if you dont get mortgage with Brit you lose 3 months interest.

Any coment s or good sugestions would be apreciated.

quinlanmd

1. Even I would probably want to split £110k across more than one building society. Stroud & Swindon, for example, have a 7.05% 1yr ebond launching tomorrow (there are other alternatives).

2. CTF - my only advice would be to reconsider whether you really want to rule out the stock market (I have advised my sister in the past to invest the £250 in an F&C IT CTF).

3. HomeSaver is a solid account (which I hold), although its suitability for you depends on how long you are likely to hold it (given the possible/probable loss of 3 months interest on withdrawing or taking a mortgage with Britannia which may or may not be a best buy). There is no requirement to deposit regularly with the account, which is a plus.

I'll assume that you already know about the Membership Reward scheme, which you may or may not obtain a payment from if you hold accounts for longer than a calendar year and (currently) applies to a maximum total savings of £22k.

mark13

We have just invested our CTF with Britania, cash saver. We did consider a stockmarket investment but as we already have investments , we wanted our babies money to be stable. This is a long term investment, but having been throught the endowment crisis , pension crisis and now the credit crunch , cash seemed the best option for us. With Britannia you are not tied after the 2 yrs @ 7% so can shop around again.

Speculator

The Britannia 7.00% 1 year Members Bond will be withdrawn w.e.f. close of business 9.8.08 and replaced with MEMBERS' 1 YEAR SUMMER BOND Issue 167 paying 6.90%.

from emoneyfacts...

MEMBERS' 1 YEAR SUMMER BOND Issue 167: a one year fixed term account with a minimum investment of £1K paying 6.90% on maturity (6.65% monthly). No earlier access or additions permitted. Available to existing members of 6 months or more. New money to institution only.

see https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=174080