LTSB FR ISA matures soon

Baldur

rb10 wrote: »

That account does not permit transfers in, so is only suitable for 2009/10 allowance (if not already subscribed) and 2010/11 allowance (if the account's still available on 6th April).

Yes , I was aware of the account's limitation on transfers, merely commenting on the rate in comparison with LTSB's present 'offers'.

I have decided to apply to transfer my maturing LTSB funds to the very flexible M&S 4% FRISA, which will earn me >£300 more, even if I transfer out after one year and pay the £100 access fee, than LTSB's 3.1% offer.

SallySunshine

Just found this thread whilst looking for a fixed 1yr ISA for my higher tax paying daughter.

I and my husband have a I yr fixed ISA with Lloyds TSB, haven't had a letter or phone call from them regarding 2010.
There is over 36K in each and this is the 2nd year we have been with them.
Don't want to call them and look too keen!
But rather strange to hear they quite picky!!!

Don't really want to go over 1 year. Can't use Santander/A&L etc as we have full allowances in those.

At the moment the Newcastle BS is offering 2.95% for 1yr fixed.

shane42

is the new allowance £5100 or is it still £3600? please ( under 50 yrs)

savetilibleed

shane42 wrote: »

is the new allowance £5100 or is it still £3600? please ( under 50 yrs)

£3600 if under 50

savetilibleed

Baldur wrote: »

I have decided to apply to transfer my maturing LTSB funds to the very flexible M&S 4% FRISA, which will earn me >£300 more, even if I transfer out after one year and pay the £100 access fee, than LTSB's 3.1% offer.

I'm going to have to have my LTSB FRISA transferred to the 3.1% variable offering as mine matures 31/03/10. (I have to inform them by 25/03/10) and hope the M&S 4% FRISA offer is still available after that to transfer to. Otherwise I'd have to pay LTSB a transfer penalty of 90 days interest, which amount to over £200. I don't fink so.

shane42

savetilibleed wrote: »

£3600 if under 50

thanks very much

wearside_2

Neither my wife or I have still not heard anything from Lloyds regarding our FRISA. I telephoned them last week and was told that the new rate would be 2.5%. Clearly unhappy with this figure, I went into a branch in Central Hull and spoke to a Financial Advisor. She gave me a sheet of paper quoting a 2 Year FRISA for 3.3% over £30,000, 3% for balances between £15,000 and £29,999 and 2.7% for balances between £3,000 and £14,999. She said that this account was for those who had existing FRISAs, although the paper made no mention of this.

It seems clear to me that once again Lloyds have absolutely no idea what they are doing regarding these ISA accounts and I suspect that problems similar to those in 2008 are just around the corner.

I shall visit the branch where we opened the ISA's the week after next, if we have heard nothing and see if I can get a third set of figures:rotfl:

anticlaus105

shane42 wrote: »

is the new allowance £5100 or is it still £3600? please ( under 50 yrs)

Do you mean at present or as of April 6th 2010? At present it depends how old you are.

The limit for a cash ISA is still £3600 for most people and the limit for a Stocks & Shares ISA is £7200. The overall combined ISA allowance is £7200.

From October 2009, ISA limits were increased for anyone over 50 to £10200, £5100 of which can be saved in cash. From 6 April 2010 everyone can benefit from the new ISA limits.

Current ISA Allowances (2009/2010)
Cash ISA Allowance £3600
Stocks & Shares ISA Allowance £7200
Overall ISA Allowance £7200

New ISA Allowances (2010/2011)
Cash ISA Allowance £5100
Stocks & Shares ISA Allowance £10200
Overall ISA Allowance £10200

Somerset

My anniversary date is 5th March (just checked after reading this thread) and absolutely no communication so far from Lloyds.

They really don't care do they? Can only assume they've got enough in the pot.

Edit : Spoke to LLSB on phone, quoted a 3.3% 2 Yr Fix, 2.5% 1 Yr Fix, 2.5% Variable. Will have a chat with local branch tomorrow. Best option seems to be that mentioned by Baldur - M&S 3 Yr fix at 4%, if it becomes unattractive later on taking the £100 penalty hit.

humfer

Somerset wrote: »

My anniversary date is 5th March (just checked after reading this thread) and absolutely no communication so far from Lloyds.

They really don't care do they? Can only assume they've got enough in the pot.

Edit : Spoke to LLSB on phone, quoted a 3.3% 2 Yr Fix, 2.5% 1 Yr Fix, 2.5% Variable. Will have a chat with local branch tomorrow. Best option seems to be that mentioned by Baldur - M&S 3 Yr fix at 4%, if it becomes unattractive later on taking the £100 penalty hit.

Same with both myself and my wife. We both have FRISA's that mature on or around the 5th March and absolutely no letters, not even one warning the account is about to mature.......I am sure that last year we had a letter a couple of weeks before the fixed rate ended

Also do you know how you get the 1 year fixed at 2.5%? I can only see the variable 2.5% and the 2 year fixed 3.3% on the website