Fixed rate Isa - Halifax

Milarky

Clearly they are trying to bounce people into fixing for 2 years in preference to one year. When fixed rates were recenly the same for 1,2,3 and 4 (5%) they would have seen that 1 year 'box' filling up more quickly than the others so whilst it would cost them about the same now if the money way distributed evenly the one year looks poor value against a variable rate of 4.75% and won't be popular I'd imagine.

Next BOE rate move is predicted to be up. If they needed to raise rates the MPC really would do it now and get it out of the way. But they are so innately conservative in behaviour that they have signalled a rise in August. They have recently (since 2001) only moved rates during a single 'non-quarter' month (in June 2004, I think) all other changes have taken place in Feb, May, Aug and Nov. So the betting has to be: ''If it's bad 0.25% in August. If it's really bad another 0.25% in November.'' This would lead to variable rates 0.25% higher than April 2006 (ISA season - when many fixes were made) for 8 months and 0.25% higher still for a further 4 months. The average of these two is exactly 0.25% higher over 12 months - April to April. Thus the 1 year fix tactic looks good for two phased increases in rates this year with bank rates at 5% in April 2007 (and that assumes any rises are matched in full)

[Deleted User]

MightyMidget wrote:

I applied for the Halifax 5% 1 Year fixed ISA at the beginning of April. I was funding it with a transfer from last years ISA from Abbey.

They did advise me that rates were subject to change but did the transfer dated 3 May 06. Problem being that it was at a rate of 3.55%!!!

Does any one know when the rates changed??? I'm going in there today to give some one a real roasting and would like to be sure of my facts.

Snap! Exactly the same circumstances as my partner, who now wishes she had never bothered transferring. The situation has still not been rectified despite the branch manager being made fully aware of it, agreeing, and making assurances that it would be resolved if we left it with them for 2 weeks. Needless to say the 2 weeks is up tomorrow. In the meantime the fixed rate has been reduced from 5% to 4.85%. I despair (and not for the first time). :mad:

YorkshireBoy

Milarky wrote:

They have recently (since 2001) only moved rates during a single 'non-quarter' month (in June 2004, I think) all other changes have taken place in Feb, May, Aug and Nov.

For those that are interested, there's a complete history here from June 1997 to the present date.

regularsaver1

yeah i noticed they were different - got an email saying that the other day, sorry