Fixed Rate accounts - whats happening?

Maidenover

Hi everyone
I'm kicking myself for delaying putting some savings I have to spare into a fixed rate account and now wonder if I have left it too late.

I have the money in an instant access account with NatWest but have been looking at fixed rate accounts (vis this site) on and off for about 2 weeks but couldn't make up my mind which to go for.

This morning (before the interest rate went down) I applied online to SAGA and Birmingham Midshires (yes I do realise they both HBOS) but will have to wait to see if they send me out an application form which can take 5 days.

I couldn't see any fixed accounts I could apply for online so went for these 2 in the hopes that one of them may give me the rate as advertised.

Does anyone have any info on what might be happening with these rates....are they still available?

Cheers.

Stavros_3

Thisismoney and others have been saying for at least 3 months now to Fix.

http://www.moneyfacts.co.uk/savings/bestbuys/long-term-fixed-rate-bonds.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/short-term-fixed-rate-bonds.aspx

Maidenover

Stavros wrote: »

Thisismoney and others have been saying for at least 3 months now to Fix.

http://www.moneyfacts.co.uk/savings/bestbuys/long-term-fixed-rate-bonds.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/short-term-fixed-rate-bonds.aspx

Look I'm not being rude but really what was the point of that reply?
I'm looking for help and admitted I had been silly to delay so why waste your time and mine with stating the obvious.

I have been on here for most of the day and just wondered if anyone knew what was happening to the fixed rate accounts previously on offer.

neil324

Maidenover wrote: »

Look I'm not being rude but really what was the point of that reply?
I'm looking for help and admitted I had been silly to delay so why waste your time and mine with stating the obvious.

I have been on here for most of the day and just wondered if anyone knew what was happening to the fixed rate accounts previously on offer.

I'd imagine they are going to get pulled very quickly, any that are left they must be very desperate for the money;)

evenasus

Nationwide BS have some fixed rate bonds. Don't know how long they will be there though. And I think you have to have a Nationwide Flex (current) account.

http://www.nationwide.co.uk/savings/bonds/bonds.htm

Reaper

Martin lists the top fixed rates here and at the time of writing yours were still available, but usually fixed rates are the first to go down after an interest rate cut, and they don't usually give much or any notice that they are being withdrawn.

Stavros_3

Maidenover wrote: »

Look I'm not being rude but really what was the point of that reply?
I'm looking for help and admitted I had been silly to delay so why waste your time and mine with stating the obvious.

The point of the reply was to show you where the best deals on fixed rates accounts currently are. Next time I shall not bother wasting my time to give you links to various accounts.

evenasus

There is the Coventry Poppy Bond fixed at 6.25%

http://www.coventrybuildingsociety.co.uk/savings/poppybond.aspx

Maidenover

evenasus wrote: »

There is the Coventry Poppy Bond fixed at 6.25%

http://www.coventrybuildingsociety.co.uk/savings/poppybond.aspx

Thanks for reply and for all others who came back with something helpful - I am grateful.

I have downloaded the application for the Coventry Poppy one and attempted to apply online but will they still give me the advertised rate?
I have to now send off a cheque with the application, it's so frustrating.

I know I only have myself to blame for leaving it till last minute but why on earth you can't transfer the money from one account to another beats me.

I also applied today to Birmingham MMids and SAGA in the hope that one of them might send an application but I doubt the 7% will still be available.

Oh well, maybe I will just have to see what happens and learn from this experience.

Savings_Dave

evenasus wrote: »

Nationwide BS have some fixed rate bonds. Don't know how long they will be there though. And I think you have to have a Nationwide Flex (current) account.

http://www.nationwide.co.uk/savings/bonds/bonds.htm

These are being changed today I believe (probably be different rates tommorrow) and they take a while to set up as you have to have their current account...:rolleyes: took me three weeks for the account setup, but then to open the bond it just took minutes online.

Many high rates have already disappeared and many more will vanish in the next week - if not already...

Halifax are also pulling their Fixed Rate Websavers from tonight - just opened a 9 month one @ 6.5% (again easier if you already have current account with them)

evenasus

Maidenover;15621249]
I have downloaded the application for the Coventry Poppy one and attempted to apply online but will they still give me the advertised rate?
I have to now send off a cheque with the application, it's so frustrating.

I know I only have myself to blame for leaving it till last minute but why on earth you can't transfer the money from one account to another beats me.

I think you might be ok but send your form off tonight, to get there tomorrow if you can.

I just managed to get their 50 Plus eSave fixed rate of 6.25% which has easy access and no penalties. It was removed from their site before my application was accepted. But because I had applied before they removed it, they honoured it.

Why I dithered so long I don't know but dither I did.:rolleyes: So you're not alone.