Does this ISA look OK?

freeasabird

I saw this fixed rate ISA and it looks ok to me. Am I right?


3.10% AER (3.06% tax-free) fixed until 30 April 2010
then 0.50% AER (0.50% tax-free) variable thereafter

• save up to £3,600 tax-free this tax year (from 6 April 2008 to 5 April 2009)
• start saving from just £1
• transfer any ISA balances to us, held with other providers, from previous or current tax years. (Transfers from existing first direct ISAs are not permitted).
• make the most of your ISA allowance
• immediate access to your money by internal transfer to another first direct account (transfers to accounts held elsewhere may take longer)*
• online statements
• no maximum limits on the amount that can be transferred to our cash e-ISA from another cash ISA held with another provider.

http://www.firstdirect.com/savings/cash-eisa-overview.shtml

I know Natwest pay a bit more but this won't go down during the year and FD have a good reputation for customer service. Unlike Barclays (I have an ISA with them for the 07/08 year and I haven't been able to pay in for 08/09 (long story)), they may actually get it sorted out before the end of the tax year. Any comments appreciated.

alastair_h

Looks ok there are better deals available though, Julian Hodge 3.25% 1Y FRISA see below:-

http://www.moneyfacts.co.uk/money/savings/7/fixed-rates-isa.aspx
or
http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

freeasabird

Thank you alistair _h. I've never heard of Julian Hodge but if they're covered by the £50,000 guarantee (I certainly don't have that much money) they should be ok?

alastair_h

Yes they are fine. I have my ISA there and they have a good reputation.

freeasabird

Thank you alistair_h.

Hobo_2

Whats the transfer fee out @ J Hodge if you dont give 3 mths notice?

i

StuHolmes

Does the mininum of £3,600 apply to transfers. Looking for a home for my Icesave money. It is only from one year and the annual limit at the time was only £3000.

alastair_h

Hobo wrote: »

Whats the transfer fee out @ J Hodge if you dont give 3 mths notice?

Yes there is transfer fee. Check t&c's, page 11, several factors but not stated.
http://www.julianhodgebank.com/personal/forms/JHB-TC.pdf

Obviously if you needed access to your money readily maybe an instant access ISA would be better than a fixed rate ISA.

alastair_h

StuHolmes wrote: »

Does the mininum of £3,600 apply to transfers. Looking for a home for my Icesave money. It is only from one year and the annual limit at the time was only £3000.

Yes you need to transfer a minimum of £3,600 to open the ISA, to open it you would need to add a further £600 (assuming you have not used this years allowance and you have £600).

See t&c's page 10 - General

http://www.julianhodgebank.com/personal/forms/JHB-TC.pdf

StuHolmes

alastair_h wrote: »

Yes you need to transfer a minimum of £3,600 to open the ISA, to open it you would need to add a further £600 (assuming you have not used this years allowance and you have £600).

See t&c's page 10 - General

http://www.julianhodgebank.com/personal/forms/JHB-TC.pdf

Only have £3200 to transfer and have already used this years subscription. Back to the drawing board.

Want 1 or 2 yrs fix - HBOS, Bath BS or several others @ 3%, anything higher than that I've missed?

StuHolmes

Just had a reply from Julian Hodge

Dear Mr Holmes,
Thank you for your enquiry. As the previous ISA allowance was £3000.00 we will accept transfers of ISA with balances of £3000 and above. The £3600.00 limit is only applicable to brand new funds.
If I can be of any further assistance, please do not hesitate to contact me.
Yours Sincerely,
Ben Hughes
Customer Services Assistant
Julian Hodge Bank Limited
10 Windsor Place
Cardiff
CF10 3BX
Tel: 029 2022 0800
Fax: 029 2034 4061
[URL="file://www.JulianHodgeBank.com/"]www.JulianHodgeBank.com[/URL]

Back to plan A :j