moving isa- advice please

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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froggy27_2froggy27_2 Forumite
953 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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.
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  • grumblergrumbler Forumite
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    froggy27 wrote:
    I had an ISA with Northern Rock which came to maturity end of last year.
    What is maturity for ISA?:confused:
    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.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
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