One more A&L query with apologies

GreatGatsby22

My apologies if I am covering old ground, which I strongly suspect. On the last day of tax year (5th April 2005) I transferred my existing ISAs plus into Abbey's Choices fixed ISA at a whopping 5.5%, even better cos the BofE base rate fell during the year. I also took out a new £3k ISA on 6th April for 2005-6 at same rate. However this year the A&L Direct ISA 2 appears to be the best at 5.2%, though I see it is variable so I assume it might fall. However the 5.2% includes a bonus of 0.7% until 30/04/07. Does this mean i HAVE to keep the ISA with A&L until that date to get the bonus or could I transfer it on again after one year if I see a better deal for April 2007? I couldn't see this in the "small print" lol. Thx for your time.

grumbler

GreatGatsby22 wrote:

Does this mean i HAVE to keep the ISA with A&L until that date to get the bonus or could I transfer it on again after one year if I see a better deal for April 2007? I couldn't see this in the "small print" lol. Thx for your time.

You don't have to keep the ISA untill that date and you don't have to keep it for one year. You are free to transfer whenever you want. 0.7% bonus is just a fixed addition untill 30/04/07 to the underlining rate 4.5%(variable). You get this addition even if you transfer your ISA earlier.