Will Alliance & Leicester ever respond to Jan 2007 Interest Rate Rise?

humfer

Their silence is deafening!:mad:

Heinz

humfer wrote:

Their silence is deafening!:mad:

As it was in response to the November BofE rate rise (for their ISAa at least).

DawnW

For their Direct Saver, they raised the rate on the 1st of the following month. They may do so again, due to competition from ICESAVE and ICICI? I seem to recall, they didn't really say anything before hand last time? I agree about the ISA tough, and will be looking to move in April if they don't sort it out!

Crabman

Don't be afraid to open an account in ICICI and if it's a higher rate, MOVE IT. Don't sit around complaining about A&L's apathy because all that's going to happen is you're losing interest and they're making larger profits on it.

Do it, do it

masonic

DawnW wrote:

I agree about the ISA tough, and will be looking to move in April if they don't sort it out!

Rumour has it they may be about to launch a new ISA.

Ian_W

Wonder if the rumour has any clarity on whether this best rate ISA will be ....
FOR BRAND NEW CUSTOMERS ONLEEE! :mad:

Graham_Devon

Moving it from the Direct Saver to ICICI or ICESAVE really won't make much difference on the current rate. I too though am hoping they increase it (opened the account and moved all money from ICICI and EGG to them and a week later the rise was announced.

If they don't raise it, will move it back on the 1st of March. As they have the loss of interest clause for any withdrawal, in my mind, they need to offer a higher rate. They are just squeezing as much as they can get though in terms of first of the month (if they do increase).

Sillychuckie

i bet they have a clause in it saying u cant transfer from an existing A&L isa.
Will then have to open another, just to shift the funds there (and then back to the new A&L one).
Hate those guys sometimes... good for new customers, poor for existing.

Bisoy

I'll reckon that A&L are "saving the best for last!". Not that I'm too much hopeful.;)

humfer

The rumours of a 6% ISA deal sound fascinating and to be honest I could see A&L doing something like this as they tend to go for the headline grabbing interest rates. Just a little concerned that 'new' customers maybe a necessity to open one up based on their past experience

Currently have the ISA Direct 2 with the bonus paying 5.45% so not in desperate rush to move. Lets hope theres plenty of market movement in time for the April rush

masonic

humfer wrote:

Just a little concerned that 'new' customers maybe a necessity to open one up based on their past experience

Past experience would suggest A&L tend to pitch their ISAs at this sort of level (figures from memory, so E&OE ):-

Issue 1 (2005): 5.4% (base rate 4.75%)
Issue 2 (2006): 5.2% (base rate 4.50%)
Issue 3 (2007): 6%? (base rate 5.25% and rising)

Did they put restrictions on access to the previous two issues? I'm not aware of any, nor any restrictions on their other savings products bar the 10/12% regular savers, which really were in a different league altogether.

If they do choose to restrict the (supposed) account to new customers (or link it to a current account application, which they also could do), it seems to me it will be quite a break away from past experience.