Fix Your Savings Rate NOW! Article Discussion

fablad75

kijiwe wrote: »

I hope this is the correct forum.
We need to know if other Mortgage lenders other than Banks will be covered by the 1.5% reduced rate. We were initially lent by Abbey, then a year and half back transefed to FREEDOM LENDING, which in turn changed name to WAVE LENDING. Will or can the Government COMPELL them also to oblige and pass on the reduced rates to their customers?

I think you need the mortgage forums.

Here and here.

michaels

treecity wrote: »

The biggest problem here is moving money back through linked accounts to even be able to open a fixed term.

I have savings in BM esaver and to open a Fixed term with them I have to send the money via my linked current account. By the time I have done that they will most likely have closed the fixed account for new applicants.

I only want to move the funds sideways within BM but have to go all round the houses.

Crazy times!

On the 6.4% phone save application there is the option to fund from an existing BM account - I got my form this AM, completed and posted off today, hopefully I will get the rate

jem16

sosos wrote: »

Thanks Baldur.

I have just opened a 3 month term at 7%. The application process took less than 5 minutes. Once my new account was created, I clicked on it to view details. Interest Rate is 6.59% Gross p.a.

I admit I'm not the savviest when it comes to banking, but I would assume that the advertised 7% would be the gross figure, thus perhaps 6.59% looks more like a net amount. Go figure :rolleyes:

Mine says 6.59% too. I shall check again tomorrow and if it doesn't say 7% AER or 6.82% gross then I will be on the phone to them. Meanwhile I have copied and pasted the information from the Halifax website that clearly states 7% AER, 6.82% gross before it disappears.

simon_clackson

molar wrote: »

Did you guys already have funds in your variable rate web savers or Halifax current accounts before today? I've funded my web saver today but it won't allow me top open a fixed rate account.

Didn't have a Halifax account, so opened a Variable Rate account on line this evening without trouble. (You have to do this before you can open a Fixed Rate account.) But you can only open a Fixed Rate account online, for which you need a password. Unfortunately you don't get a password for days ... Clever. Where shall I turn next, I wonder??

maypole

neilsedaka wrote: »

I already have money in a Bradford & Bingley Internet Saver 3, so it was easy a few minutes ago to click the link in the My Accounts page to Fixed Term eBonds and open a 3 year eBond (issue 38) fixed at 6.00% within seconds. I know that 6.00% is nowhere near the best but I already already have several fixed rate accounts with other banks at over 7% and it was easy to do this one immediately.

So you were able to transfer from one BB account to open a fixed rate one? I thought you had to always go through your linked account


EDIT --- Thanks neilsedaka

I have just done the same as you, as I have an internet saver 3 too. I didn't realise you could do that, I am so pleased. IT WAS SO EASY!

sosos

molar wrote: »

Did you guys already have funds in your variable rate web savers or Halifax current accounts before today? I've funded my web saver today but it won't allow me top open a fixed rate account.

Yes I did. I had £2000 in my variable rate web saver, and transferred half of it into this new 3-month-7%er.

narrowboat_2

maypole wrote: »

So you were able to transfer from one BB account to open a fixed rate one? I thought you had to always go through your linked account


EDIT --- Thanks neilsedaka

I have just done the same as you, as I have an internet saver 3 too. I didn't realise you could do that, I am so pleased. IT WAS SO EASY!

Thanks from me too. I've just done the same, so much better than that laborious process of moving money out to current account and then off to somewhere else - reckon you lose about 10 days worth of interest that way. I'll sleep better tonight now. :T

molar

sosos wrote: »

Yes I did. I had £2000 in my variable rate web saver, and transferred half of it into this new 3-month-7%er.

Thanks for that. I still cant get it to process my application so I'm printing out a paper form for the Coventry fixed 6.25% until 31.12.09 instead. :j

Hopefully it will arrive before they withdraw it!

PRINCESSKERRY

simon_clackson wrote: »

Didn't have a Halifax account, so opened a Variable Rate account on line this evening without trouble. (You have to do this before you can open a Fixed Rate account.) But you can only open a Fixed Rate account online, for which you need a password. Unfortunately you don't get a password for days ... Clever. Where shall I turn next, I wonder??

I had to do exactly the same, wish I had read posts on here first as I think by the time that account is open for us the fixed rate account simply wont be worth it.
I currently have my money sitting in a poorly paid Lloyds account and wanted to move it asap.

Squibbler

Opened a Birmingham Midshires fixed telephone account today via internet. Called & they confirmed that I will get the advertised rate even if it drops tomorrow