Bank of Cyprus UK UK 4.15%AER

bigfreddiel

have you ever been to cyprus?


1 its greek - except for the turkish bit

2 they are a lazy workshy bunch

3 its greek - except for the turkish bit

4 tourism is its only industry - not a moneyspinner in a reesion

5 its greek - except for the turkish bit

Saints2011

downs523 wrote: »

just opened the three yr fix isa too, OP hows it going so far with your account?

Going really well, helpful staff on the end of the phone as well whenever ive needed to call.

bigfreddiel wrote: »

there will be no rise in interest rates - not this - not next year -

anyway having year or more of this current rate will pay off if rates go up in year three because you would need a much bigger rate in that last year to make up for the lower rate in the first two years

so ignore or these hopefuls saying rates are going up - in reality they're dropping

fj

Haha

spikyone

bigfreddiel wrote: »

there will be no rise in interest rates - not this - not next year -

anyway having year or more of this current rate will pay off if rates go up in year three because you would need a much bigger rate in that last year to make up for the lower rate in the first two years

At the time I originally posted (3 months ago) it looked likely that rates would rise, and most were predicting a 0.5% rise by the end of this year. However you're right that the ever-increasing number of experts being ignored by the BoE - who are saying base rates need to rise - make a rise less likely with every passing month.
Whilst I'd be amazed if the BoE can continue burying their heads in the sand for another 12 months, I'd still advise any poster on here against taking out the account the OP has opened. At the moment you can get the same interest rate from Northern Rock, which is as close to cast-iron guaranteed right now as it's possible to be, given that it's basically state-owned. IIRC, when I originally posted, there were better-paying accounts around too. No real protection for UK consumers with Bank of Cyprus so the advice stands - there is no reason whatsoever to give your money to them.

bigfreddiel wrote: »

so ignore or these hopefuls saying rates are going up - in reality they're dropping

Please explain how? Base rate is 0.5% and it seems only you expect it to go further south. Even if it did, none of the base-rate tracking instant access accounts will follow that reduction.

bigfreddiel

spikyone wrote: »

Please explain how? Base rate is 0.5% and it seems only you expect it to go further south. Even if it did, none of the base-rate tracking instant access accounts will follow that reduction.

mortgages are getting cheaper every day -savings rates won't go down any further .5% is the lowest -similarly they won't be going up either - not for a very looooooooooooooong time!

fj

spikyone

bigfreddiel wrote: »

mortgages are getting cheaper every day

Who was talking about mortgages? This is an ISAs and savings thread, and there are good reasons why mortgages have recently been getting cheaper - particularly if you conveniently ignore the fact that mortgage rates had gone up over the six months to February. That article, written 5 months ago, says that at the time some commentators expected imminent base rate rises. On which subject...

bigfreddiel wrote: »

-savings rates won't go down any further .5% is the lowest -similarly they won't be going up either - not for a very looooooooooooooong time!

Back on-topic then, sort of - and it seems you agree with me that rates aren't decreasing.

As for an increase, have a look at this article. European inflation is much lower than UK inflation, and many of the Eurozone countries are saddled with far worse economies than that of the UK, yet their base rate could be three times that of the UK rather soon. There is no reason, other than the blinkeredness of Mervyn King, for UK base rate to be as low as it is.
Why are you so insistent that base rate (and therefore interest rates on tracking products) won't go up? Do you have a house you can't really afford?

bigfreddiel

spikyone wrote: »

Who was talking about mortgages? This is an ISAs and savings thread, and there are good reasons why mortgages have recently been getting cheaper - particularly if you conveniently ignore the fact that mortgage rates had gone up over the six months to February. That article, written 5 months ago, says that at the time some commentators expected imminent base rate rises. On which subject...



Back on-topic then, sort of - and it seems you agree with me that rates aren't decreasing.

As for an increase, have a look at this article. European inflation is much lower than UK inflation, and many of the Eurozone countries are saddled with far worse economies than that of the UK, yet their base rate could be three times that of the UK rather soon. There is no reason, other than the blinkeredness of Mervyn King, for UK base rate to be as low as it is.
Why are you so insistent that base rate (and therefore interest rates on tracking products) won't go up? Do you have a house you can't really afford?

so sorry to go off topic - does it really matter - and actually as you seem sensitive to going off topic what about all those posts about isas in the savings & investments forum - i guess you'll be telling them to get back on topic.

cheers

fj

spikyone

bigfreddiel wrote: »

so sorry to go off topic - does it really matter

Of course it does, if you're using mortgage rates to justify your belief that interest rates are decreasing on a thread that's about ISAs and their rates.

bigfreddiel wrote: »

what about all those posts about isas in the savings & investments forum - i guess you'll be telling them to get back on topic

Posting something in a related forum without finding the sub-forum is completely different to using unrelated statistics to support your arguments.

And I still don't understand why you believe that interest rates won't go up any time soon, other than the BoE's current intransigence!

downs523

Opened mine on the 4th still no confirmation that the account is open, how long does this take??

Saints2011

Need to wait until first payments leaves your b/account then you will get a letter through the post

downs523

KirbyBirch wrote: »

Need to wait until first payments leaves your b/account then you will get a letter through the post

The initial payment came out of my bank account on the 5th July.... Still no letter