Halifax Cutting Rates from 1/12/08

cheekykid

I need some urgent replies

I transfered money from my guarantted saver to my websaver and it said that i need to wait 48hour? The reason I did that is because I want to open a fixed term account and from I can tell I need first money in the websaver right? If rates are cut tomorrow I might lose the 6% offer

SGE1

caveman38 wrote: »

Does anyone know or are we assuming that the FR ISA will be victim to the cut as well on Monday?

I hope not, that's the one I'm waiting to open :rolleyes:

I rang them up to ask, and staff had heard nothing about a cut for fixed rate products, they claimed, though I think that come mid-week, it's possible that the offer will be withdrawn.

alared

alared wrote: »

I opened a reward account in July paying 5.8%,this was cut to 5.3% last month.
I assumed this one was fixed at 5.8% for a year but like I said,it was cut last month by .5% to 5.3%

I have just looked up the T&C`s for this account and because it is variable the only condition regarding the rate is that it will be .80% above base.
I am quite expecting it to be cut tomorrow to 4%.
So opening the new 5% fixed rate today seems a good move.:T

jem16

alared wrote: »

I have just looked up the T&C`s for this account and because it is variable the only condition regarding the rate is that it will be .80% above base.
I am quite expecting it to be cut tomorrow to 4%.
So opening the new 5% fixed rate today seems a good move.:T

Hopefully Halifax won't see it as another Web Saver Reward to stop you having the 5% fixed one.

YorkshireBoy

jem16 wrote: »

Hopefully Halifax won't see it as another Web Saver Reward to stop you having the 5% fixed one.

You said earlier that they didn't with your account. I've opened an account this morning on the strength of that anyway. I'm banking (excuse the pun!) on you jem16.

alared

Well the money has already gone into the new one instantly from my current this morning.
I would have expected it to be "blocked" if it wasn`t allowed.

If you attempted to open a fixed rate websaver without first opening a variable it blocks your application.

Me and Yorky will be first in line to kick Jem16 up the kyber if it does get rejected later.
(can`t see it though,would have thought they need all the dough they can get)

10_66

jem16 wrote: »

Hopefully Halifax won't see it as another Web Saver Reward to stop you having the 5% fixed one.

I rang Halifax today to ask this, and was told that it wouldn't affect the opening of the Web Saver Reward, although the T&C's I downloaded when I opened it in July were called a Web Saver Reward. It would help if they called these accounts different names!

jem16

YorkshireBoy wrote: »

You said earlier that they didn't with your account. I've opened an account this morning on the strength of that anyway. I'm banking (excuse the pun!) on you jem16.

No you're correct as it didn't stop me opening one.

What I meant was that hopefully they wouldn't decide later I wasn't eligible.

YorkshireBoy

jem16 wrote: »

No you're correct as it didn't stop me opening one.

What I meant was that hopefully they wouldn't decide later I wasn't eligible.

Hopefully your rate is showing as 5% in your online area? Mine's showing as N/A, but hopefully this will update overnight tonight?

jem16

alared wrote: »

Me and Yorky will be first in line to kick Jem16 up the kyber if it does get rejected later.
(can`t see it though,would have thought they need all the dough they can get)

My excuse is that I didn't know the other two I have were supposed to be Web Saver Rewards.