Kaupthing Edge rates

Toodlepip123

Hi there,

I have a KP saving account which currently has a small amount in it as I luckily managed to withdraw the bulk before the poo hit the fan.

Just checked their rates and ING seem to have left the same rates that were there before.

My question is, given the current situation in the UK with base rate drops, is it wise to lock in the bulk into a KP long term rate? Or should I look elsewhere? I know it's up to me, but just wanted ot gauge people's feelings in this board...

Thank you!

elbe

I've got four fixed rate KE thingy's still running, (sorry it's late). Their website says they will honour those rates when the terms expire.

I too thought about opening a new fixed term as the interest rates were still showing high on the KE website.

I called and asked if the rates showing for fixed term thingy's were still viable? He went quiet.

I then asked about people who opened a fixed term thingy after ING had taken over KE; would ING honour those? He went quiet again.

Following his silences I've decided not to go ahead and have put money elsewhere 'just in case'.

Money_Grabber13579

I know if I had any to invest, I would put more in KE, however its still all locked in Icesave! lol

Toodlepip123

Thanks! Interesting points - anyone else have any thoughts?

bjorn_again

Did'nt touch mine and very pleased that it is still siting there earning a good rate for me.

Paul.J.M

elbe wrote: »

I've got four fixed rate KE thingy's still running, (sorry it's late). Their website says they will honour those rates when the terms expire.

I too thought about opening a new fixed term as the interest rates were still showing high on the KE website.

I called and asked if the rates showing for fixed term thingy's were still viable? He went quiet.

I then asked about people who opened a fixed term thingy after ING had taken over KE; would ING honour those? He went quiet again.

Following his silences I've decided not to go ahead and have put money elsewhere 'just in case'.

I have more in KE/ING FTD with no problems, the way i see it is; if it says 7.15% when i put it in then it means 7.15% they will surely have to honour it, even now. I expect the interest rates will change shortly.

As for the comments regarding " HE WENT QUITE" he did not actually say they wouldn't. !!

Paul.J.M

I think all the people who sat tight with KE/ING and did not withdraw any must be feeling quite proud of themselves, i am a little. Especially with the imminent BOE rate cuts.

stevetodd

jackdoor wrote: »

I'd feel far from proud if I hadn't pulled out of KE once ING took them over.

The clever ones went into AA @7.21% PLUS full FSCS cover!

Why do ING only subscribe to the 'passport' scheme?

But KE's 3 year bond pays 7.67%, also I there is quite a long thread about people who have problems with the AA's bond. I did close mine but reinvested in KE's bonds yesterday

elbe

Paul.J.M wrote: »

I have more in KE/ING FTD with no problems, the way i see it is; if it says 7.15% when i put it in then it means 7.15% they will surely have to honour it, even now. I expect the interest rates will change shortly.

As for the comments regarding " HE WENT QUITE" he did not actually say they wouldn't. !!

ING have been quite clear of late both by phone and online that they will honour the fixed term rates we all signed up to when KE were in business. They've been very up front about that so why do you think that when I asked the guy on the phone if ING would honour fixed terms set up after ING took over KE he went quiet?

I'll err on the side of caution with this one but we all have free will so good luck paul.j.m

Toodlepip123

Thanks Everyone. I think I'll lock in a little bit of amoney for 6 months then and see what happens.

Jonbvn

Paul.J.M wrote: »

I think all the people who sat tight with KE/ING and did not withdraw any must be feeling quite proud of themselves, i am a little. Especially with the imminent BOE rate cuts.

Having sat tight I have to confess to being quite pleased with the outcome.

Keep your head when all around you are losing theirs......