Lloyds TSB Vantage - Multiple accounts

ffacoffipawb

Randy wrote: »

I`m sorry, but i`m sure the conditions were that if you went over your £7,000 by so much as £1 they wouldn`t pay the full 4% on any of your £7,000. They would just pay the very basic 1%

Wrong. Next!

Randy

ffacoffipawb wrote: »

Wrong. Next!

Are you sure?? :cool:

KTF

Randy wrote: »

Are you sure?? :cool:

Yes, anything above the cut off doesnt get any interest but amounts below the cutoff still get interest.

- 5k balance = 3% on 5k
- 6k balance = 3% on 5k, 0% on 1k.

Randy

OK.. I give in. You`re right. Ta

blizeH

Sorry to bump such an old thread, but is this still worth doing? I'm currently in limbo, not wanting to overpay my mortgage because it's such a low rate, but not wanting to lock cash away because I have a bad feeling my mortgage rate (C&G 2.5% SVR) will go up very soon!

3% still seems like a very attractive rate and it'd mean I have very easy access to my cash, I'd probably be juggling £7k between the two accounts for now, so £3k stuck in both, and moving some back and forth to ensure I get the interest.

Thanks

rpc

blizeH wrote: »

Sorry to bump such an old thread, but is this still worth doing? I'm currently in limbo, not wanting to overpay my mortgage because it's such a low rate, but not wanting to lock cash away because I have a bad feeling my mortgage rate (C&G 2.5% SVR) will go up very soon!

Isn't that SVR capped at 2% over base rate?

We have (I think) the same deal via Lloyds TSB - same mortgage, different salesman. From what the mortgage advisor told us when we ported it, it is a hard cap and they can't change it. Their new SVR is more flexible and the only folk on the 2.5% deal are older customers (who the bank would very much like to move off it).

It might be worth double-checking that they can change your SVR.

blizeH

Ah, brilliant news if true, thanks rpc! I'll contact them later to find out... if that's the case I'll probably leave it as it is, not a lot of point in paying it off as long as I can get savings/investments that pay a higher rate

iAMaLONDONER

blizeH wrote: »

Sorry to bump such an old thread

That's totally fine! :rotfl:

bowlhead99

iAMaLONDONER wrote: »

That's totally fine! :rotfl:

!!!!!! Londoner, can you stop reopening threads which have reached their natural conclusion?

Just looking at the last 4 threads you hit 'reply' to:

Paying with Paypal using credit card = cash advance? 8 years
What jobs can't you do once you are bankrupt? 5 years
Lloyds TSB Vantage - Multiple accounts 8 months
Credit Score, Credit Card, Pay in advance 5 months

There must be something more topical on which you could proffer your sage advice?