MSE News: Fixed savers warned of diving rates 2 October 2009 at 6:08PM in Savings & Investments 7 replies 2.1K views

Former_MSE_Guy

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 ..."

Read the full story:
Fixed savers warned of diving rates

baby_boomer

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: ?

home_alone

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_Representative

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!

Mr_K

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 !

Baldur

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.

evenasus

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.

cos69

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