Cash Mini ISA providers who are still mutual.

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 653 views
Deaf_LeopardDeaf_Leopard Forumite
45 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Are there still any providers of cash mini ISAs out there that are still mutual societies providing a competitive rate of interest?

I would prefer to sign up to one of these societies, if the rate was competitive, on the off chance that if they decide to become a 'bank' or are bought out by a larger provider I would get some kind of windfall.

I looked at the Kent Reliance but they appear to make you sign a disclaimer waiving any right to any windfall, which I suppose is fair enough. Are all the remaining mutuals run like this or is there still space for tarts like me to jump on the bandwagon?


  • ChadsmanChadsman Forumite
    1.1K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    The vast majority of BSocs now require new members to waive there right to a windfall for 5 or more years from the date of joining. IMHO the chances of any more BSs demutualising in even the medium term are slim.
    God save the Queen!
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  • steady__eddiesteady__eddie Forumite
    1.5K Posts
    Part of the Furniture Combo Breaker Uniform Washer
    If you do a search on the F.S.A. site it will give you a list of everybody including mutuals and the rates. You'll then have to check out each one to see what the score is on what their attitude is towards windfalls. Scarborough is top at 6% followed by Ipswich but Ipswich operate geographical limitations on membership as do Barnsley, Cambridge, Cumberlamd, Darlington, Marsden, Newbury, Penrith, Progressive, and Vernon to name but nine. Mercantile do as well but they announced a merger the other week. Buckingham and N + P have something in the t + cs about waiving absolute rights to a windfall forever as opposed to the industry norm of 5 years (7 years for Dudley and Chorley) so I reckon that you've only got about 50 to check out. Good luck.
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