Anglo Irish - Stick or Twist?

Gwhiz

I know we've done this to death over the last few months but ....

... my fixed rate bond matures early July so need to find a new home for the money. Although I have not worried too much about the stability of the bank, now that I have to decide what to do with my funds I'm debating! Would you keep it in Anglo or move to a bank covered by the UK FSA protection?

I'm thinking move to a UK covered bank but interested to hear other opinions. The only reason I'm hesitating is that I have a large amount of cash from a house sale and finding multiple homes at £50K a time is a challenge!

Ta!

1618

i understand Anglo irish are offering a 1 year bond at 4.05% which is not bad in the current climate

sagalout1954

How challenging might you find it if Anglo Irish collapsed and ALL your dosh was in it? Surely you don't need to think 'all or nothing'.

After getting tied up with Icesave and K Edge we decided to only keep our money in fully FSCS covered schemes and to stay under £48K in any one place (the last bit good advice from on here which I hadn't thought of - leave space for interest!).

Gwhiz

1618 wrote: »

i understand Anglo irish are offering a 1 year bond at 4.05% which is not bad in the current climate

Not the UK division. Best is 3.1 loyalty bond!

Gwhiz

sagalout1954 wrote: »

How challenging might you find it if Anglo Irish collapsed and ALL your dosh was in it? Surely you don't need to think 'all or nothing'.

After getting tied up with Icesave and K Edge we decided to only keep our money in fully FSCS covered schemes and to stay under £48K in any one place (the last bit good advice from on here which I hadn't thought of - leave space for interest!).

I only have proportion of my money with them. I had to open many accounts to get all my money covered under the £50K threshold and some went to Ireland!

I was with KE too and luckily ING did the business so I know what you are saying. I guess I do know the answer (move it back to the UK) but was interested in others opinions.

gozomark

I've stuck with them, rolling over a bond last week.

I think the situation in ireland has actually improved in the last few weeks, with the cuts in the budget.

Gwhiz

gozomark wrote: »

I've stuck with them, rolling over a bond last week.

I think the situation in ireland has actually improved in the last few weeks, with the cuts in the budget.

Was that one of the loyalty bonds? I've noticed Northern Rock have 1 year at 3.55 (no withdrawal) and 2 year at 3.75 (with withdrawal facilities at 180 days interest) which seem competitive.

gozomark

mine was IoM offshore, not UK

Gwhiz

gozomark wrote: »

mine was IoM offshore, not UK

Thought so! Cheers!