Northern Rock Fixed Rate Bond

talexuser

SnowMan wrote: »

Hee hee. Whose being impatient now?

GUILTY! it's a fair cop guv...:j

I've got my last top up before closure to come through on paper. Then I'll put mine in, I hope a phone call will do, if not then a letter.

Stompa

SnowMan wrote: »

I'm waiting for a statement for my last deposit before giving my notice. But will go in and give notice after that.

I'm going to wait a while. I can't see better rates being available six months from now.

2010

I wouldn`t rely too much on banks/bsoc increasing rates even if the BoE raise their rate.

If the BoE do raise rates (eventually) it`ll be a measly quarter of one % at a time.

soulsaver

talexuser wrote: »

GUILTY! it's a fair cop guv...:j

I've got my last top up before closure to come through on paper. Then I'll put mine in, I hope a phone call will do, if not then a letter.

There's a welcome pack to come. In it there's an acceptance form that has to be signed & returned. I doubt if it is a requirement before you give notice but it may be worth waiting for, if you've not already had it.

GCH888

2010 wrote: »

I wouldn`t rely too much on banks/bsoc increasing rates even if the BoE raise their rate.

If the BoE do raise rates (eventually) it`ll be a measly quarter of one % at a time.

Completely agree with your pessimism. In fact the BoE have already started a pre-emptive strike by strongly hinting that an interest rate rise will not solve the current inflation problem. Therefore don't expect any rate rises this year at all.

Rollinghome

2010 wrote: »

I wouldn`t rely too much on banks/bsoc increasing rates even if the BoE raise their rate.

If the BoE do raise rates (eventually) it`ll be a measly quarter of one % at a time.

In some ways it's a slightly more complicated calculation. Although it's unlikely there'll be instant access accounts paying more than 4.30% in the short term, there could be changes in the outlook for rates in 1 to 5 years time, which would in turn alter the rates offered on fixed rate bonds for the corresponding periods. Fixed rate deals aren't determined just by existing rates.

So even without any change in the BoE rate there would then be the possibility, and that's all, of offers similar to this one but with a higher rate. Which is why the 6 month get-out is so valuable.

Lorian

Welcome pack arrived.

don't panic when you see the interest rate payable, thats for non-funded accounts - you have to reference the table on another page.

soulsaver

Lorian wrote: »

Welcome pack arrived.

don't panic when you see the interest rate payable, thats for non-funded accounts - you have to reference the table on another page.

Mine said 4.3%.

Dan29

Mine also said 4.3% but when I opened the account by phone I was told that the letter would show 0.1% if the account hadn't been funded.

SnowMan

According to emoneyfacts it seems to be back again but this time paying 4% rather than 4.3%.

Again with 180 days notice you can withdraw without penalty it seems.

Not yet on the Northern Rock website so will need to see if it is the same account terms (with 0.3% lower rate).

If it is then like the previous incarnation although it is a 5 year bond it can be run as (for example) a 6 month bond in this case paying 4% AER which is pretty good.

Read the rest of this thread to see all the permutations.

Edit: is the same account terms apart from the lower interest rate. Here on the Northern Rock website.