Halifax ISA Saver Direct 5% rate to be cut

thor

The BOE is supposed to keep inflation down and they also try to control house price rises. The two are may be linked(I can't be bothered to check up on the theory) but at the moment there appears to be more indicators that house prices are going up than down so they might increase rates just to stop from the increases spiralling. TBH though, every month there figures showing house prices inreasing, decreasing and stagnating simultaneously so what is happening is anyone's guess.

hansi

I'll be switching to the Bradfrod and Bingley E ISA from 6 April paying 5% (for now)

hansi

Man-Alive wrote:

Looks like I will be shopping around for a better deal from another provider!

If I decide to transfer asap, will I get it done by April 5th?

I've just got Halifax to ring me and you can transfer from the ISA Saver Direct to the Fixed Rate over the phone but you can't do it till 6th April anyway.

derrick

hansi wrote:

I've just got Halifax to ring me and you can transfer from the ISA Saver Direct to the Fixed Rate over the phone but you can't do it till 6th April anyway.

I did this over the phone last week, transfer was immediate , I did not have to wait until April 6th

hansi

zag2me wrote:

Just transfered to Halifax too, but to be honest I expected this rate to be reduced. 4.75% still isnt too bad.

5% is better though, transfer to their fixed rate!

hansi

derrick wrote:

I did this over the phone last week, transfer was immediate , I did not have to wait until April 6th

thanks, I did this too, just now.

hansi

Am I coorect in saying that having transferred the funds from my exisiting Halifax ISA Direct to the new Fixed Rate ISA, I can, on 6th April, deposit another £3000 into the new account?

derrick

hansi wrote:

Am I coorect in saying that having transferred the funds from my exisiting Halifax ISA Direct to the new Fixed Rate ISA, I can, on 6th April, deposit another £3000 into the new account?

No it is a fixed rate for a fixed term, I think you can withdraw money but there are penalties. you can however open a new ISA from April 6th with any provider you want as it will be a new tax year and your new £3000. limit applies

mr_fishbulb

I was debating whether to transfer over to a Alliance and Leicester one @5.2%

I though no because 5% vs 5.2% isn;t a lot really. But might consider it now as 4.75% vs 5.2% is quite a bit.

Anyone know if Halifax have any fees to transfer out?

derrick

mr_fishbulb wrote:

I was debating whether to transfer over to a Alliance and Leicester one @5.2%

I though no because 5% vs 5.2% isn;t a lot really. But might consider it now as 4.75% vs 5.2% is quite a bit.

Anyone know if Halifax have any fees to transfer out?

No fees, don't forget A&L has a bonus of .7% guranteed, however it's base rate,4.75% can go down, Halifax is fixed for 12 months