5 year fixed rate ISA at 5% - Newcastle BS!

sly_dog_jonah

rangers_fc wrote: »

Sorry to re-erect this old thread, but isint it surprising how reading through it from the start the 5% rate offered by the Newcastle was thought to be reasnoble by most at the time but some thought better rates may come for a 5 year fixed rate deal back in July look at us now in November.
Looking at current deals I thank my lucky stars I struck when the timing was right.

And now in February, this is looking an even better deal. When I transferred my wedge to Newcastle BS I thought it might be for a year or so before rates improved elsewhere and transfer might be worthwhile, but at the moment rates are still nosediving. This was a perfect product for me because I can get to the cash as and when we decide to move house without having to increase our borrowing, but in the meantime it continues to grow tax free at a rate only fractionally less than our 5yr fixed rate mortgage (which has 18months of fix left to run).

MarkyMarkD

I always thought it was going to prove to be a good deal ... lucky the Mrs & I both piled in at the right time.

Innys

MarkyMarkD wrote: »

I always thought it was going to prove to be a good deal ... lucky the Mrs & I both piled in at the right time.

At the risk of joining the "Smug brigade", I, too, filled my boots.

It makes me smile that I wasn't one of the ones selected by Lloyds for a good deal when my FR ISA with them matured. Those who were some of the "chosen few" must be regretting that decision now...

guitarman001

I can't see the link to this product on their website. Original link not working.
EDIT - sorry, I see this is an old thread. Missed the boat!

trenchwars

Quick question for anyone who opened the original 5% 5 year ISA.

Did you receive a passbook when the account was opened? I got a piece of card enclosed in a plastic wrapper but I can't remember if there was a passbook as well.


Also has anyone made a withdrawal and if so how long did it take?

donerkebab

trenchwars wrote: »

Quick question for anyone who opened the original 5% 5 year ISA.

Did you receive a passbook when the account was opened? I got a piece of card enclosed in a plastic wrapper but I can't remember if there was a passbook as well.


Also has anyone made a withdrawal and if so how long did it take?

No passbook - the certificate card is the only proof of account. It shows up online as I had an old isa as well but does not allow you to withdraw online. Never done a withdraw so cannot comment.

sly_dog_jonah wrote: »

I was informed by both phone and letter that the ISA notice period was a typo in the original T&Cs as it read 90 days not 30 days. This arrived with the welcome pack. The bond remains 90 day notice as far as I'm aware, this may explain why you didn't get a letter.

Just was checking my wifes certificate card and on the back it says 30 days notice yet on mine it says 90 days notice. And I never received a separate letter - surely they can't have different T&Cs for same ISA? Gonna call to confirm but seems silly.

MarkyMarkD

The "certificate card" is a passbook ... it just only has one page! It has lines for transactions, not that they will be necessary in most cases.

At least that's unless you got something different to me and my Mrs.

Mine doesn't mention notice period but the account is definitely 30 days not 90 - they made a mistake in some of the documentation but then corrected it.

trenchwars

Thanks I wasn't sure if there was one that I had lost.

wakeupalarm

On the front of my "record card" it says "FIVE YEAR ISA (Issue 1) WDLS 90 Days Notice". I wrote to them and they replied back saying only 30 days notice is needed for ISA Accounts! I never received any letter saying it had changed to 30 days notice and only knew from reading this thread.

MarkyMarkD

Ah. My account card was probably issued after yours, because I was doing two transfers in which took a while. So they must have removed the erroneous wording from the later-issued cards.