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NOW CLOSED Newcastle 3 year bond, 4% with 90 days notice to withdraw

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Comments

  • 2010
    2010 Posts: 5,587 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Who exactly is borrowing money at base rate ie: .5%

    Nobody you or I know,that`s for sure.
    It`s not capitalism, it`s GREED
  • gozomark
    gozomark Posts: 2,069 Forumite
    Given anybody sensible is getting paid 3% odd on their savings, why would a bank lend at 0.5% ???
  • steveksullivan
    steveksullivan Posts: 573 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I posted a link the other day asking for any views - got lots of replies but no opinions!!

    Anyone got experience of the Newcastle - good or bad?

    Need to find a home for some matured funds today......
  • gozomark
    gozomark Posts: 2,069 Forumite
    Capitalism is based on greed, its what makes it work - the "invisible hand"

    Do you look for the best savings rate, or the best price when buying something ? That's greed.
  • 2010
    2010 Posts: 5,587 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    gozomark wrote: »
    Given anybody sensible is getting paid 3% odd on their savings, why would a bank lend at 0.5% ???

    What`s the point of having a base rate then if it`s completely ignored.

    Answer this:
    Who is borrowing money at .5% ?
  • 2010
    2010 Posts: 5,587 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    steveksullivan wrote: »
    I posted a link the other day asking for any views - got lots of replies but no opinions!!

    Anyone got experience of the Newcastle - good or bad?

    Need to find a home for some matured funds today......

    Can`t see it matters who`s good or bad as long as someone coughs up your £50k if they go bust.
  • Michael_Corleone
    Michael_Corleone Posts: 82 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    2010 wrote: »
    Can`t see it matters who`s good or bad as long as someone coughs up your £50k if they go bust.

    Or if they cough it up when you request to withdraw early!
    It's not personal, It's strictly business.
  • steveksullivan
    steveksullivan Posts: 573 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    hence my request for opinions - anyone got any? (sensible ones !!)
  • 2010
    2010 Posts: 5,587 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    steveksullivan wrote: »
    hence my request for opinions - anyone got any? (sensible ones !!)

    I`ve got two accounts with them.
    They answer the phone when you ring,you can also email them.
    When you send them money they put it in your account,when you withdraw it,they take it out of your account.

    I can`t see how they`re any different from anyone else.
    As I said before they are covered by the FSA,so what`s the problem.
  • gozomark
    gozomark Posts: 2,069 Forumite
    2010 wrote: »
    What`s the point of having a base rate then if it`s completely ignored.

    Answer this:
    Who is borrowing money at .5% ?

    Its not ignored - many lending rates are based off it, with risk premiums added on top. Also most lending is done on long term rates, not short term rates. Financial instutions can borrow at base rate, but its only a small part of their funding, partly due to matching of asset and liability profiles
This discussion has been closed.
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