MSE News: Fixed savers warned of diving rates

This is the discussion thread for the following MSE News Story:

"Thousands of savers are being dumped onto miserly rates as their sky-high fixed deals come to an end.

In particular, due to the stampede to grab a 7%-plus one-year deal last October ..."

Replies

  • edited 2 October 2009 at 7:25PM
    baby_boomerbaby_boomer Forumite
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    edited 2 October 2009 at 7:25PM
    Bit of a non-story, except as a factual reminder to take the appropriate action.

    Savers who have successfully milked the system for £millions have to rejig their finances as their clever punt comes to an end. Isn't that what we have to do all the time?

    Shock horror :eek: :rotfl:. Oh Noes!

    Well done to those who got 7% for 3 years - eg at Skipton or 5 years eg courtesy of the taxpayer at Northern Rock :).

    Are we also going to complain when those incredible deals come to an end :rolleyes: ?
  • Saga have just come in with a 3.75% 1 year fixed bond so lets hope its the beginning of a surge maybe they were not getting many takers for their other accounts and could have lost loads as last years high rate savings come to and end.

    gary
  • The_AA_Company_RepresentativeThe_AA_Company_Representative Organisation Representatives - Private Messages may not be monitored
    251 Posts
    Hi there. I have read this thread and thought it may be useful to clarify the AA’s position. Savers who have invested in the AA’s 7.21% fixed account, due to mature, will receive a letter which offers 4 accounts – a 50:50 tracker GEB, a 14 month fixed at 3.45%, a 2 year fixed at 4.35% and a 5 year fixed at 5.15%. I hope this helps!
    Official Company Representative
    I am the official company representative of The AA. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to [email protected] This does NOT imply any form of approval of my company or its products by MSE"
  • Mr_KMr_K Forumite
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    The end is is site for my lovely fixed 6.3% Egg account - and it was instant access. Whoever thought this account up last year has probably been buried 6 feet under !
  • BaldurBaldur Forumite
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    Mr_K wrote: »
    The end is is site for my lovely fixed 6.3% Egg account - and it was instant access. Whoever thought this account up last year has probably been buried 6 feet under !
    Mine too - some of the proceeds from that, my 7.21% AA and my 7.20% ICICI Bank fixed-rate accounts will be going into LTSB Vantage accounts @ 4%, so it could be worse.
  • evenasusevenasus Forumite
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    Mr_K wrote: »
    The end is is site for my lovely fixed 6.3% Egg account - and it was instant access. Whoever thought this account up last year has probably been buried 6 feet under !

    My (about to end) Coventry BS fixed 6.25% was also instant access.

    I've several accounts (various institutions) on fixed rates about to finish.

    Not sure what I'm going to do with some of the funds now.
    The time for saving for a house deposit, is before you marry/live together/have children.
    Save for what you want to buy
    .

    You're - You are
    Your - It's yours.
  • cos69cos69 Forumite
    413 Posts
    I have 4 bonds maturing between early November and mid December, so on the look out for a decent home for the cash. Hope I get a few good reinvestment offers
    "How could I have been so mistaken as to trust the experts" - John F Kennedy 1962
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