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

RayWolfe

Are you a forger by profession or do you just try to cheat wherever you can?
It's people like you that make it necessary for more and more complicated laws, forms and bureaucracy!

fatbob10

does anyone know whether Newcastle BS are going to honour ISA transfer requests sent to them prior to the closure of this 5 year ISA account?

thanks,

masonic

fatb!!!0 wrote: »

does anyone know whether Newcastle BS are going to honour ISA transfer requests sent to them prior to the closure of this 5 year ISA account?

They should write to you to tell you that they've forwarded the transfer form to your existing provider. If you get that letter, then you should be ok.

fatbob10

thanks for that response masonic. is that what the newcastle bs are known to be doing then? - i.e. sending out confirmation of receipt and onward processing of your isa transfer requests! cheers,

masonic

fatb!!!0 wrote: »

thanks for that response masonic. is that what the newcastle bs are known to be doing then? - i.e. sending out confirmation of receipt and onward processing of your isa transfer requests! cheers,

That's what they did in my case.

paul5046

I'd like the postal application form too for the 5% fixed rate ISA. Can anyone email me it in any form.

[EMAIL="southstar@ntlworld.com"]southstar@ntlworld.com[/EMAIL]

thanks in advance

efunc

Can anyone advise me on this? I am paying in £3,600 of new (09/10) money into this ISA, as well as transferring in several previous years from my First Direct ISA. The NBS transfer form is a bit confusing. The section is reproduced below. Which of the three options should I be ticking? :

Please note: You MUST indicate which of the following statements applies to your ISA transfer:

- This transfer only consists of previous years’ ISA subscriptions. I do not wish to apply to subscribe to a Cash ISA for the tax year 2009/2010 and each subsequent year until further notice. (Please complete either section 1 or section 2)

- This transfer includes only ISA investments from the current tax year.
I apply to subscribe to a cash ISA for the tax year 2009/2010 and each subsequent year until further notice.

- This transfer includes ISA investment from the current tax year and from previous year ISA subscriptions. I apply to subscribe to a Cash ISA for the tax year 2009/2010 and each subsequent year until further notice. (Please complete either section 1 or section 2 below).

Obviously my transfer only relates to previous years... but I will ALSO be paying in new money for 09/10 separate to this transfer form. Despite this I'm guessing it's the first option I want. Any advice?

masonic

efunc wrote: »

Despite this I'm guessing it's the first option I want. Any advice?

I ticked the first option and crossed out the words 'do not wish to'.

MarkyMarkD

Interesting. Their wording doesn't make sense.

If you are ONLY transferring prior years, then (1) would be right.

If you are transferring prior years and subscribing this year, none of the options work.

If you are transferring prior and current years, and subscribing this year, then (3) is right.

If you are transferring prior and current years, and NOT subscribing this year, then none of the options really work although (1) is pretty much right.

Rather confusing!

efunc

I agree, it's completely counter intuitive. However I suspect the three statements are intended to ONLY relate to the Transferred funds, so completely negates anything you wish to do with new money being paid in as a separate transaction. That's the only way I can make sense of it.

What did everyone else do?