Transfers - Are Nationwide that bad?

caveman38

I have got 8 years of ISA's with NW all from previous Portman accounts. They have always been competitive and as a result I have just left them.
Later this month me and the missus's TOISA's FR mature. I know that they will become [EMAIL="ISA@s"]ISA[/EMAIL]'s and normally I would have left them. Except, I have just seen NW's new rates. The ISA rate for a FR 1 Yr. is now 4.75% compared say to Halifax at 5.75% and I assume some others are better still.
After reading previous posts about how bad NW are for transferring their ISA's to other providers, I don't know what to do. Are they that bad or does the bad return now at NW make it an essential inconvenience to have to go through?

Milarky

caveman38 wrote: »

After reading previous posts about how bad NW are for transferring their ISA's to other providers, I don't know what to do. Are they that bad or does the bad return now at NW make it an essential inconvenience to have to go through?

Well a 1 percent differential is a 1 percent differential... (£300+)

Transferring to Halifax for a fixed rate however is fraught - because they may drop that rate during the process - which can take up to 30 days. Unlike other fixed rate offers, where the rate may be held open for the time needed to do the transfer. With a Nationwide fixed rate you can transfer instantly and will get that rate, of course.

I've no idea how much longer Halifax will hold the door open at 5.75% but I wouldn't have confidence that it would be for 30 days more....

It must be worth (in the current climate, where they need every ££) contacting Halifax and saying you want to transfer £30k+ to them and see if they can do anything over the rate because you can't make the transfer go any faster than it will go....