New Rates at Nationwide

BruceyBonus

NPowerUser wrote: »

Are you holdings in large blocks of say 1k-2K pattycake?

Most of my wins in the past have come from blocks of £300-£400

Personally, I would rather have 10 x £300 blocks than 2 x £1500 blocks.

Better luck this year.

Numbers in large blocks are just as likely to come up as any other number.

pattycake

NPowerUser wrote: »

Are you holdings in large blocks of say 1k-2K pattycake?

Most of my wins in the past have come from blocks of £300-£400

Personally, I would rather have 10 x £300 blocks than 2 x £1500 blocks.

Better luck this year.

Yes, I have two holdings of £5K, a £500, £400 and £100. Logic dictates that every bond has an equal chance of winning but you may be on to something. Thank you for your good wishes. Perhaps some of your luck will rub off on me. Please........

NPowerUser

BruceyBonus wrote: »

Numbers in large blocks are just as likely to come up as any other number.

I know statistically the odds seem the same but I am talking from personal experience.

Its a bit like buying 5 lottery tickets say...

Ticket 1) 8-15-25-28-30-40
Ticket 2) 8-15-25-28-30-41
Ticket 3) 8-15-25-28-30-42
Ticket 4) 8-15-25-28-30-43
Ticket 5) 8-15-25-28-30-44

Unless 8-15-25-28-30 are drawn out going for a jackpot win, I am stuffed. Whereas if all of my tickets start with a different number, I feel as though I have a greater chance.

2 years ago I won far in excess of what I expected and I put that down to having a larger number of smaller blocks as opposed to one of two large blocks. I reduced my Premium Bond holdings as I wanted to pay off my mortgage. Now Nationwide have reduced my isa rate to a penny in the pound, I will be piling the cash in blocks of £300 and £400 as part of my 2 year saving for a new house plan. (Current mortgage paid off).

You are probably right in the odds but personal experience prevents me from wanting to go for larger blocks.

NPowerUser

pattycake wrote: »

Yes, I have two holdings of £5K, a £500, £400 and £100. Logic dictates that every bond has an equal chance of winning but you may be on to something. Thank you for your good wishes. Perhaps some of your luck will rub off on me. Please........

Just out of interest pattycake, with average luck your chances of winning are

£0 Exactly

2.56%

At least £50

97.4%

At least £100

88.3%

At least £200

51.6%

Fingers double crossed for at least £200 in winnings for you over the next 12 months. :beer:

SoozyJ22

Rafter wrote: »

The Nationwide unfortunately don't have much option. Their SVR is linked to base rate as are their tracker and variable mortgages.

There are a lot of Nationwide trackers which are no longer linked to the base rate as there was a 2.75% collar which they've lowered to 2% for now but are not going any further and reserve the right to go back to 2.75% at any point.

As someone with both a tracker mortgage and savings with nationwide, I was hoping the enforcement of the 2% collar might mean my savings wouldn't be affected quite as badly, but that doesn't seem to be the case. Luckily most of my money with them is in fixed rate bonds.

pattycake

Both my husband and I have the maximum amount in a Fixed Rate ISA paying monthly interest with Nationwide. I think it is fixed at 5.9% until April this year. That yields us an income of around £360 per month between us. I dread to think what the rate will be when April comes around. I will be shopping around for a better rate and probably stop taking the interest monthly all together.

I also have a couple of other fixed rate bonds which were for 3 years. They mature in August 2009. Perhaps things will have picked up a bit by then.

I had a lot more than the £50K limit in Nationwide and have now moved everything that is not fixed. I am still a bit over the limit but not too worried about anything untoward happening to Nationwide.

thor

Rafter wrote: »

They can't be accused of profiteering either because they are owned by their customers and any profits are ploughed back into rates,

If the latest rate cuts are an example of the NW 'ploughing profits' into rates then God help us if they decide to do otherwise!
Most of my cash was moved of the Nationwide ages ago as there were/are plenty of other financial institutions paying out much better.