moving isa- advice please

froggy27_2

i know this has probably been answered before but here's my question.
I had an ISA with Northern Rock which came to maturity end of last year. it's now gone over to a 4.8% ISA which is not the best this was for year 2004. So my understanding is that I can transfer it to a better rate even if in the meantime last year i took another ISA. I see that first direct is offering 5.5% so now what do i need to do? which procedure?
Is first direct a good deal?
Thanks for your help.

grumbler

froggy27 wrote:

I had an ISA with Northern Rock which came to maturity end of last year.

What is maturity for ISA?

So my understanding is that I can transfer it to a better rate even if in the meantime last year i took another ISA.

You can transfer your ISA(s) at any time; for the current year you can transfer only full amount saved.

I see that first direct is offering 5.5%

... until 15 February 2006 and then 3.93%, equivalent to 4.00% AER (variable) thereafter

Is first direct a good deal?

I don't think so. Consider A&L or Halifax.

so now what do i need to do? which procedure?

Contact the new provider (or look on the website). Sometimes the new provider can ask you to initiate transfer from the other side. In this case contact your existing provider.