Where is everyone moving their Lloyds Vantage money to?

pawlala

£5100 last year and now £5340 -> Halifax 2yr Fixed ISA @ 3.6% & 3.65% (then another next year)
~£17000 -> towards 10% capital repayment limit over 2 years
then any spare cash from matured ISAs after that towards paying mortgage off by 2013 without penalty

Lloyds can't spoil my two year finance plan!

savetilibleed

Oh had not noticed the impending change. I sort of suspected a drop may happen sometime when I they were promoting the Vantage account over the last few months online.

So thanks for the warning. What a bummer. It was so easy too once set up and S/Os set up between accounts.

It's going to be really difficult to get such good rates without the risk of tying up. Saga have 4% 3yr fixed ISA with a monthly interest option, but with get outs (270 days within 3 years of maturity, 180 days if within 2 years and 90 days within 1 year of maturity). Still that'll only deal with some of one account.

The table for the new rates after 27/06/11 mentions £3000-£5000 at 3%. But beneath it mentions rates are tiered on balances upto £7000. What do they mean?

Eco_Miser

savetilibleed wrote: »

The table for the new rates after 27/06/11 mentions £3000-£5000 at 3%. But beneath it mentions rates are tiered on balances upto £7000. What do they mean?

It also says that they do not pay credit interest on amounts above £7000. Those phrases apply to the current rates, and whoever added the future interest table forgot to alter 7000 to 5000 in the rest of the page.

Chris2000

zzzLazyDaisy wrote: »

when interest rates start to rise this account will get full benefit. Unless they 'do a lloyds' on us, in which case I'll shift my money.

I wouldn't be so sure that issue 1 will track the BoE rate up from 0.5%. From what I remember, it didn't track all the way down to 0.5% because that would have made the rate excluding bonus go negative.

demonblade

anyone one got an opinion about moving the money to First Home Saver from Santander...besides from it being from Santader?

10_66

demonblade wrote: »

...besides from it being from Santader?

I think you said it all there.

xrjtg

I've had no problems with the First Home Saver. If you meet the conditions, and can make the necessary monthly payments, there's no reason to wait until June to jump in.

MoneyStudent

I'm probably going to start drip feeding the excess 2k in each vantage account into a few regular savers.

zzzLazyDaisy

Chris2000 wrote: »

I wouldn't be so sure that issue 1 will track the BoE rate up from 0.5%. From what I remember, it didn't track all the way down to 0.5% because that would have made the rate excluding bonus go negative.

You could be right, it is so long ago since I opened this account that I can't remember the exact t&c's, so I will keep an eye on it. Thanks for pointing that out.

But for the moment, once LTSB removes the top slice from the vantage accounts, the YBS account will be the best home for any spare cash that I don't want to tie up long term. As we are allowed to make one withdrawal a year, it will be easy enough to shift the funds should rates not keep pace with other accounts as interest rates begin to rise.

Prof_FrinkProf

So from June 11th Lloyds won't be paying interest on anything over £5000? And also reducing interest rate from 4% to 3%? What does 3% as a net rate work out at?

Does this still make the Vantage account one of the highest paying current accounts around?