Where to put 2011/12 cash ISA allowance

Mee

I normally end up dithering on where to put my new cash ISA allowance until May. This year I was wondering whether to add it to my Halifax Direct Reward 4 cash ISA until I decide where to send it and/or funds from previous years.

Any thoughts on the wisdom of doing this?

I don't wish to bank with Barclays again (done their golden ISA etc in previous years and got the T-shirt) or Santander (too many horror stories about their ISAs and transfer issues).

Thanks

OsborneViewpoint

There are 2 deals, both 5 year at 5% from BM and Coventry BS's.
Put your max £5340 into these.
It's possible in future years the rates could move up, but probably not by more than 1% so you should gain enough in the next year or two to cover any future potential losses.
Both feature 'loss of interest' penalties for early withdrawals.
BM's decrease as the 5 years pass by - from 12 mths to 9 mths to 6 mths to 3 mths on the amount withdrawn.
Coventry's is a standard 4 mths on any amount withdrawn.

Mee

Thanks for the suggestion. Personally, I shall probably look at easy access or fixed for 1 year but no more...

savvygranny

Did you find Barclays a difficult experience with the Golden ISA?

I was considering using them for 2011/12 because of the decent return - that is if they don't close it from 6th April.

G_M

You don't say what rate Halifax are giving you.
Or whether you want instant access or a longer term fix?
Or whether you care how it's operated - branch? Internet? Post?
Or how much you have?

Try Stafford Railway BS - 3% instant access and no bonus rate involved. If you have enough £ !

Mee

G_M wrote: »

You don't say what rate Halifax are giving you.
Or whether you want instant access or a longer term fix?
Or whether you care how it's operated - branch? Internet? Post?
Or how much you have?

Try Stafford Railway BS - 3% instant access and no bonus rate involved. If you have enough £ !

As per threads, my Halifax DR ISA Saver 4 is 3.20 (Rate includes 2.70% bonus for 12 months + 0.20% = reward account holders bonus) - it's easy access....
I'm happy to do branch/internet/post and have done so in the past with various providers from Barclay, Icesave (remember them!?) to Smile etc.

I was talking only about the 2011/12 allowance. I'm not moving previous years for another month until I see how the market shapes up...

Thanks

Mee

savvygranny wrote: »

Did you find Barclays a difficult experience with the Golden ISA?

I was considering using them for 2011/12 because of the decent return - that is if they don't close it from 6th April.

Opening at branch seemed OK at first until applications reached the Barclays ISA HQ blackhole. Not suprisingly, they're always indundated with applications. I just found that on the last two ocassion one had to chase them to get interest backdated to the application submission date. I remember writing quite a few letters of complaint one year (2008/2009) - far too many for my liking...