Savers urge rate rise

purch

Don't shoot the messenger

Spoilsport :eek:

Old_Slaphead

StevieJ wrote: »

I have savings, 4.4% - 6.2% Fixed ISA's with the Halifax and 6.2% with NS&I (over the past 12 months not sure about the next), all these are tax free :beer:, what's the problem ?

The problem is that the Halifax 6.2% ISA runs out next year

chucknorris

StevieJ wrote: »

I have as much as I want in them, the savings certs have been at least two a year in recent memory so additions of £30k a year wasn't bad, in fact.



http://www.thisismoney.co.uk/money/saving/article-1723973/NSI-inflation-bonds-a-subsidy-for-the-rich.html

That's the problem, I would like to get much more in than that. Luckily my wife doesn't use either stocks and shares ISA's or NS&I so at least I can get an extra 20k per year in. It isn't so much the annual savings it's the back log of cash currently in savings bonds.

I plan to invest more in (non ISA) FTSE trackers from now on to make more use of my CGT allowance to get around this problem.

Sibley

I couldn't care less about savers. I like low interest rates.

chucknorris

Sibley wrote: »

I couldn't care less about savers. I like low interest rates.

I love low interest rates, but I still want a decent return on my savings/investments, that's the challenge, how to get a decent return in a low interest rate environment.

I quite like NS&I and FTSE trackers at the moment. They are keeping me out of the 60% tax band.

DervProf

Sibley wrote: »

I couldn't care less about savers. I like low interest rates.

If you had a decent amount of savings you might.

Sibley

If you had a decent amount of savings you might.

My house is my savings and pension plan.

I want some of the crashers to address this.

Because my mortgage payents were cut by around £250, I decided to buy a new car with a loan. The payments are £200 odd a month.

Now technically what you are saying is that your savings are funding people like me. I like that.:rotfl:

Instead of you getting a good return I've bolted myself up and your paying it for me. Cheers. I'll slug a few beers this weekend in thanks.

grizzly1911

If th eolder peps with savings aren't getting much interest they are less likely to spend on "luxuries" so we miss the tax on the investment and the VAT.

They are more likely to batten down the hatches and make do and mend rather than dip into capital if they can.

The poor rates on offer are affecting the economy IMO.

Th rates achievable pre crunch weren't excessive they were merely the margin available today, but on a higher BoE base link. The 3/5 year terms weren't much different to the 12 month rates at the peak, and they aren't much different now either.

The fact that 1 year fixed is available at 3-3.5% reflects the "real market" rate rather than the current BoE rate.

grizzly1911

Sibley wrote: »

My house is my savings and pension plan.

I want some of the crashers to address this.

Because my mortgage payents were cut by around £250, I decided to buy a new car with a loan. The payments are £200 odd a month.

Now technically what you are saying is that your savings are funding people like me. I like that.:rotfl:

Instead of you getting a good return I've bolted myself up and your paying it for me. Cheers. I'll slug a few beers this weekend in thanks.

House = Pension?

House = Residential/Home Care Cost maybe:)

Thrugelmir

grizzly1911 wrote: »

House = Pension?

House = Illiquid asset.